| NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES September 21, 2020, Vancouver, BC, Canada – BTU METALS CORP. ("BTU" or the "Company") (TSX:V-BTU) (OTC:BTUMF) is pleased to announce a non-brokered private placement for aggregate proceeds of $2,062,500 consisting of 7,500,000 flow-through units at a price of $0.275 per unit. Each flow-through unit shall be comprised of one common share of the company issued on a flow-through basis and one-half of one common share purchase warrant to be issued on a non-flow-through basis. Each whole warrant shall entitle the holder thereof to acquire one common share of BTU at a price of $0.30 for a period of 36 months following the closing of the offering. The flow-through shares will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec). The warrants issued with the units sold will be subject to an acceleration provision. After four months have elapsed from closing, if BTU’s shares trade above $1.00 for 10 consecutive trading days, the Company has the option to provide notice to the warrant holder that their warrants will expire if they are not exercised within 30 days. As part of the Offering, the Company is pleased to welcome SSI Asset Management Ltd (“SSI”), an independent asset management firm with an emphasis on precious metals and mining, as a long-term shareholder of BTU Metals. |