Mr. Zachary Kotowych reports

BOLT METALS CLOSES FIRST TRANCHE OF LIFE OFFERING

Bolt Metals Corp. has closed the first tranche of its previously announced non-brokered listed issuer financing exemption offering for total gross proceeds of $430,000.

The company issued an aggregate of 2.15 million units, at a price of 20 cents per unit, under the LIFE offering for total proceeds of $430,000. Each LIFE unit issued under the LIFE offering consisted of one common share and one common share purchase warrant, issued pursuant to Part 5A of National Instrument 45-106 (Prospectus Exemptions). Each warrant issued under the LIFE offering entitles the holder to acquire one common share at a price of 40 cents per share for a period of 24 months from the date of issuance and is exercisable beginning 60 days following the closing date.

The company intends to use the net proceeds from the LIFE offering for general working capital and corporate purposes.

In connection with the LIFE offering, the company paid cash finders' fees of $19,800, respectively, to Research Capital Corp. In addition, the company issued 94,500 broker warrants to Research Capital Corp. as consideration for services rendered in connection with the LIFE offering. Each broker warrant has the same terms as the warrant issued under the respective offering.

About Bolt Metals Corp.

Bolt Metals is a North American mineral acquisition and exploration company focused on the development of quality precious and base metal properties that are drill-ready with high upside and expansion potential. Bolt trades on the Canadian Securities Exchange under the symbol BOLT, on the OTC under the symbol PCRFC and in Germany under the WKN A3D8AK.

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