Intercontinental Gold and Metals Ltd V.ICAU.H

Toll Milling Agreement Produce Zinc-Silver and Lead-Silver

[thenightstocker]

December 14, 2020) - Intercontinental Gold and Metals Ltd. (TSXV: ICAU) (the "Company") a gold refining and commodity trading company is pleased to announce that it has agreed to terms for toll milling services with the Bolivian owner/operator (the "Service Provider") of Ingenio Santa Lucia, a fully licensed 200 tpd mineral processing facility (the "Processing Plant"), located in Potosi, Bolivia.

The Company commenced supply of the mined product to be processed at the Processing Plant in late November 2020. The grade of the mined product being supplied by the Company is forecast in the range of: silver 100 to 500 g/t, zinc minimum 10% and lead from 1% up to 8%.

The Service Provider will guarantee minimum metal recoveries for silver of 70%, zinc 85% and lead 70%.

[Angelized]

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