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Philippine Metals Announces Private Placement

Newsfile Corp.

Vancouver, British Columbia--(Newsfile Corp. - July 4, 2019) - Philippine Metals Inc. (TSXV: PHI) ("PMI" or the "Company") announces that it will be proceeding with a non-brokered private placement of up to 3,571,425 shares at a price of $0.07 per share for gross proceeds of up to $249,999.75. The net proceeds of the private placement will be used to fund the costs related to the transaction announced in the Company's press release dated June 25, 2019 and for general working capital purposes.

The private placement contemplated herein is subject to, among other things, the approval of the TSX Venture Exchange and certain other regulatory agencies.

ON BEHALF OF THE BOARD

"Craig T. Lindsay"
Chief Executive Officer

For additional information, please contact:

Craig Lindsay
Tel: (604) 218-0550
Email: craig@agcap.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the

TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This News Release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "US Securities Act") or any State securities laws, and may not be offered or sold within the United States or to US Persons unless registered under the US Securities Act and applicable State securities laws, or an exemption from such registration is available.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46080