Mr. Scott Sheldon reports

FLOW METALS UPDATES PROJECTS AND SETTLEMENT AGREEMENTS

Flow Metals Corp. is continuing to improve its cash flow through a debt conversion plan. This plan allows a non-arm's-length creditor to convert $300,000 into a secured convertible debenture maturing on March 13, 2027.

The debenture shall bear interest at a rate of 8 per cent calculated from the issue date. Flow Metals reserves the right to repay the debenture, without penalty, in whole or in part, prior to the maturity date, on 30 days prior written notice to the holders of the debenture in advance of repayment or redemption.

The principal amount of the debenture shall be convertible, for no additional consideration, into shares at the option of the holder at any time prior to the maturity date at a conversion price equal to five cents per common share.

The company also announces that pursuant to the option agreement dated March 23, 2019, to acquire the Sixtymile property, it has entered into debt settlement agreements with the vendors of the Sixtymile property to settle the annual advanced royalty payment of $30,000.

Pursuant to the settlement agreements, the company has issued an aggregate of 500,000 common shares at a deemed price of six cents per common share.

Securities issued pursuant to the settlement agreements will be subject to a statutory hold period of four months plus a day from issuance in accordance with applicable securities laws.

Project updates

Sixtymile, Yukon:

The Class 3 permit application has progressed to the evaluation stage. The company plans to drill the Easter Egg high-grade-gold target to test continuity along the nine-kilometre strike with 10 near vertical diamond holes to allow for maximum penetration of rock units while still intercepting the gold-bearing structures at an optimal angle. The required budget is estimated at $1-million.

New Brenda, British Columbia:

A notice of work application and mine permit amendment has been submitted with a request for a single year drill permit to drill test the XP porphyry target. Following the successful induced polarization (IP) survey over XP, the company is planning a follow-up maiden drill program. The program will consist of four 300-metre diamond holes to test the anomaly underlying the main surface showing. The required budget is estimated at $500,000.

The company intends to finance both projects through private placement.

About Flow Metals Corp.

Flow Metals is a mining exploration company focused on advancing two 100-per-cent-owned road access projects in established mining districts. Sixtymile is a Yukon gold project in the Sixtymile placer district and New Brenda is a copper-silver-molybdenum porphyry project in British Columbia's Quesnel terrane.

We seek Safe Harbor.