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MINTO METALS ANNOUNCES A CORRECTION TO THE GRANT OF STOCK OPTIONS & RESTRICTED SHARE UNITS

March 21, 2022

Press Releases

WHITEHORSE, YT, March 21, 2022 /CNW/ - Minto Metals Corp. ("Minto" or the "Company") (TSXV: MNTO) today announces a correction to the news release issued on March 18, 2022, regarding the grant of stock options (the "Options") and RSUs (the "RSUs") to the senior leadership team and executive officers of the Company under the Company's Long-Term Incentive Plan. The Options have an exercise price of $2.60 per share (rather than $2.34 per share as previously announced) and the RSUs were issued at a deemed price of $2.60 per share resulting in an aggregate of 1,489,950 Options and 239,538 RSUs being granted.  All other terms of the Options and RSUs remain unchanged.  The Options are exercisable for a period of five years from the date of grant and the Options and RSUs will vest in three annual installments on each of the first, second and third anniversaries of the date of grant.

About Minto Metals Corp.
Minto owns and operates the producing Minto mine located in the Minto Copper Belt of the Yukon, Canada. The Minto mine has been in operation since 2007 with underground mining commencing in 2014. Since 2007, approximately 500Mlbs of copper have been produced from the Minto mine.  Capstone Mining (previous owners) put the Minto mine into care & maintenance in 2018 and the mine operations were shut down.  In mid-2019 Minto (formerly Minto Explorations Ltd.) purchased the Minto mine operation and restarted the mine. The current Minto mine includes underground mining operations, a processing plant that produces a high-grade copper, gold, and silver concentrate, and all supporting infrastructure associated with operating a remote mine located in Yukon. The Minto mine property is located on the Selkirk First Nation's Territory, sitting about 20 km WNW of Minto Landing on the west side of the Yukon River.  Minto Landing is located on the east side of the Yukon River approximately 250 road-km north of the City of Whitehorse, the capital city of the Yukon.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Minto Metals Corp.