INV Metals Announces Filing of Final Base Shelf Prospectus

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR DISSEMINATION IN THE UNITED STATES

TORONTO, Ontario, June 10, 2020 – INV Metals Inc. (“INV Metals” or the “Company”) (TSX:INV) announces that it has filed a final short form base shelf prospectus (the “Shelf Prospectus”) with the securities regulatory authorities in each of the provinces and territories of Canada. This follows the completion of a regulatory review of the preliminary base shelf prospectus, the filing of which was announced on May 14, 2020.

The Shelf Prospectus will allow the Company to make offerings of up to $300 million of any combination of common shares, warrants, subscription receipts, units and debt securities (collectively, the “Securities”). The Shelf Prospectus will be effective for a 25-month period, expiring in July 2022. The specific terms of any offering of Securities, including the use of proceeds from any offering, will be set forth in a shelf prospectus supplement. The Company has filed this Shelf Prospectus to maintain financial flexibility but has no immediate intentions to undertake an offering.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these Securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

Technical Report

In connection with the filing of the Shelf Prospectus, the Company has also filed an amended technical report on the Loma Larga project entitled “NI 43-101 Feasibility Study Technical Report” for the Loma Larga Project, Azuay Province, Ecuador with an effective date of April 8, 2020 and dated June 10, 2020 (the “Technical Report”). The Technical Report reflects amendments to replace Mark Thorpe with the Company’s Chief Operating Officer, William Shaver, as a co-author and Qualified Person set out in the National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About INVTM Metals

INVTM Metals is an international mineral resource company focused on the acquisition, exploration and development of precious and base metal projects in Ecuador. Currently, INVTM Metals’ primary assets are: (1) its 100% interest in the Loma Larga gold property in Ecuador; and (2) its 100% interests in exploration concessions in Ecuador, including Tierras Coloradas, La Rebuscada and Carolina. The Company’s significant shareholders are IAMGOLD Corporation which holds a 35.5% equity interest, and Dundee Precious Metals Corp. which holds a 19.4% equity interest. For further information on INV Metals please email the Company at info@invmetals.com. Corporate presentations, press releases and other relevant information is available on the Company website at www.invmetals.com.

Forward-Looking Statement

This press release contains forward-looking information. Forward-looking information contained in this new release includes, but is not limited to, statements with respect to how long the Shelf Prospectus will be effective and the terms of any future offerings, including the use of proceeds from any offering, being set forth in a prospectus supplement. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management’s expectations. In certain cases, forward-looking information may be identified by such terms as “anticipates”, “believes”, “could”, “estimates”, “expects”, “may”, “shall”, “will”, or “would”. Forward-looking information contained in this press release is based on certain factors and assumptions made by management and qualified persons in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management and the qualified persons believe are appropriate in the circumstances. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Forward-looking information involves 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 information. Such factors include risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to grade or recovery rates, reliance on key personnel, operational risks, regulatory, capitalization and liquidity risks. Please refer to the Company’s Annual Information Form dated April 14, 2020 filed on SEDAR at www.sedar.com for other risks that could materially affect the Company. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward-looking information. The Company does not undertake to update any forward-looking information that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.