Metals Creek Resources Announces Closing of Private Placement

TORONTO, ONTARIO--(Marketwired - Nov. 23, 2015) - Metals Creek Resources Corp. (TSX VENTURE:MEK) ("Metals Creek" or the "Company") is pleased to announce that it has closed the private placement previously announced by press release on November 11, 2015 (the "Private Placement"). The Private Placement included the issuance of 1,760,000 common shares at an issuance price of $0.08 per share (the "Hard Shares"), and 5,770,000 flow-through common shares (the "Flow-Through Shares") at an issuance price of $0.09 per share for aggregate gross proceeds of $660,100.

Oban Mining Corp. ("Oban") acquired 19.9% of the issued and outstanding common shares of the Company by purchasing 1,760,000 Hard Shares and 3,170,000 Flow-Through Shares. Upon closing, Oban will also have the right to nominate one member to the board of directors of Metals Creek.

Delbrook Capital Advisors Inc. ("Delbrook") acquired 10.5% of the issued and outstanding common shares of the Company by purchasing 2,600,000 Flow-Through Shares through a fund managed by it.

Medalist Capital Ltd. ("Medalist") acted as financing advisor to Metals Creek with respect to the Private Placement. Pursuant to a finder's agreement with the Company, the Company paid cash finders' fees equal to 8% of the gross proceeds raised in the Private Placement and issued compensation warrants (the "Finder Warrants") exercisable for that number of Hard Shares equal in number to 8% of the number of securities sold under the Offering. The Finder Warrants will be exercisable at a price of $0.10 per share for a period of 24 months from the date of issuance.

The proceeds from the Offering will be used for general working capital purposes and to further exploration work on the Ogden Gold Project in Timmins Ontario and other Canadian Exploration Expenses (within the meaning of the Income Tax Act (Canada)), with the Company using its best efforts to ensure that such Canadian Exploration Expenses qualify as a "flow-through mining expenditure" for purposes of the Income Tax Act (Canada), related to the exploration of the Company's exploration projects.

The private placement is subject to final acceptance by the TSX Venture Exchange. All the securities issued under the Private Placement are subject to four month hold and will be freely trading on March 24, 2015.

About Metals Creek Resources Corp.

Metals Creek Resources Corp. is a junior exploration company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a 50% interest in the Ogden Gold Property, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has a 8 km strike length of the prolific Porcupine-Destor Fault (P-DF) that stretches between Timmins, Ontario and Val d'Or, Quebec. The Company has also entered into a JV with Benton Resources on Metals Creeks Staghorn Gold Project in Newfoundland. Metals Creek has also made a new gold/silver discovery in the "White Gold District" on the Squid East project in the Yukon and is engaged in the identification, acquisition, exploration and development of other mineral resource properties, and presently has mining interests in Ontario, Yukon and Newfoundland and Labrador. Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under its profile at www.sedar.com.

On Behalf Of the Board of Directors

Metals Creek Resources Corp.

Alexander Stares, President and CEO

Forward Looking Information

This press release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, such as costs of sales, general economic conditions, the success of marketing and competition from competing suppliers and businesses. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.