Full Metal Minerals Provides Corporate Update

Vancouver, British Columbia--(Newsfile Corp. - August 31, 2021) - Full Metal Minerals Ltd. (TSXV: FMM) ("Full Metal" or the "Company") is pleased to provide the following corporate update.

Olivine Mountain

The Company is planning to commence work on its Olivine Mountain property, this will include expanding geochemical sampling and geological mapping to assist future drill hole targeting.

Full Metal has the option to earn a 60% interest in Olivine Mountain, with GSP Resource Corp. ("GSPR") retaining 40% interest. GSPR will be the operator for exploration programs determined by Full Metal.

The Olivine Mountain property is in southern British Columbia, approximately 25 km west of Princeton, BC and about 8 km west of the community of Coalmont. The Property consists of 29 contiguous MTO mineral titles in the Similkameen Mining Division, and covers an area of 3,022 hectares. The Property can be reached via the Coalmont Road from Princeton to Coalmont, followed by the well-maintained Blakeburn forestry service road, for about 16 kilometres to the Property. For more information, see the Company's news release dated April 29, 2021.

Project Search

The Company is actively reviewing high quality early to advanced stage precious metal mineral projects. The Company is reviewing several projects and continues to seek opportunities.

Vendetta Mining Loan

As previously disclosed in the Company's management, discussion and analysis, and new release dated April 29, 2021, the Company previously advanced loans in the aggregate of $182,000 (the "Loan") to Vendetta Mining Corp. ("Vendetta") pursuant to promissory notes entered into on May 10 and May 31, 2019. The Company is pleased to announce that Vendetta has repaid the Loan in full, including the accrued interest.

ON BEHALF OF THE BOARD OF DIRECTORS

"Peter Voulgaris"

Peter Voulgaris
President/CEO and Director

For more information please contact:

Peter Voulgaris
604-484-7855

Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Telephone: 604-484-7855 Fax: 604-484-7155
Email info@fullmetalminerals.com
www.fullmetalminerals.com

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

Cautionary Note Regarding Forward-Looking Statements: This press release includes certain forward-looking statements and forward-looking information (together, "forward-looking statements"). All statements other than statements of historical fact included in this release, including, without limitation, statements regarding, the Olivine Mountain property and the pursuit of precious metal mineral projects and other opportunities are forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events may vary from those anticipated in such statements. Important risk factors that could cause actual results to differ materially from the Company's plans or expectations include inability to complete work on the Olivine Mountain property and inability to secure precious metal mineral projects and other opportunities. The forward-looking statements in this press release were developed based on the assumptions and expectations of management, including that the Company will be able to complete work on the Olivine Mountain property as anticipated and the Company will be successful in securing precious metal mineral projects and other opportunities as anticipated. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction, including the United States. The securities referenced in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, a "U.S. person," as such term is defined in Regulation S under the U.S. Securities Act, unless an exemption from such registration requirements is available.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/95106