Vancouver, British Columbia--(Newsfile Corp. - June 5, 2023) - Bolt Metals Corp. (CSE: BOLT) (FSE: A2QEUB) (OTCQB: PCRCF) ("Bolt" or the "Company") announces it has closed a non-brokered private placement announced May 12, 2023, by issuing 714,928 units (each a "Unit") at CAD$0.35 per Unit for gross proceeds of CAD$250,225 (the "Offering"). Each Unit is comprised of one (1) common share in the capital of the Company (each a "Common Share") and one (1) transferable Common Share purchase warrant (each a "Warrant"). Each Warrant entitles the holder to acquire one (1) Common Share at CAD$0.50 until June 5, 2025. The Company intends to use the net proceeds from the Offering for general working capital purposes. All securities issued under the Offering, including securities issuable on exercise thereof, are subject to a hold period expiring October 6, 2023, in accordance with the rules and policies of the Canadian Securities Exchange and applicable Canadian securities laws.

About Bolt Metals

Bolt Metals is a Canadian‐based exploration company focused on the acquisition and development of production grade nickel and cobalt deposits, key raw material inputs for the growing lithium‐ion battery industry. Visit to find out more.

Bolt Metals Corp.

Ranjeet Sundher - President and CEO
(604) 922‐8272
rsundher@boltmetals.com

Steve Vanry - CFO & Director
(604) 922‐8272
steve@vanrycap.com

Reader Advisory

This news release may contain statements which constitute "forward-looking information", including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Forward looking statements made in this news release include the proposed use of the proceeds of the Offering. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, availability of funds, personnel and other resources necessary to conduct exploration or development programs, successes of the Company's exploration efforts, availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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