Announcing Execution of Definitive Agreement to Acquire Cobalt Project in Norway

Vancouver, B.C., January 16, 2018. Boreal Metals Corp. (“Boreal” or the “Company”) (TSXV:BMX) is pleased to announce the execution of a definitive agreement with EMX Royalty Corporation (“EMX”) (NYSE American: EMX, TSXV: EMX) for the acquisition of the Modum Project (“Modum” or the “Project”). The Project surrounds southern Norway’s historic Skuterud Mine (also known as the Modum Mine), which was Europe’s largest and highest grade producer of cobalt though the nineteenth century.

Figure 1. Location of Boreal’s Key Projects

“The Modum Project includes an impressive 12,000 Ha with 12 kilometers of cobalt prospective geology, with stand-alone mining potential,” stated President and CEO Karl Antonius. “Boreal is excited about the timely acquisition of a high grade cobalt project within an emerging battery production sector in the Nordic Region.”

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