Joe Phillips Appointed Joint Chief Executive Officer of Macarthur Minerals

VANCOUVER, British Columbia, Oct.24, 2017(GLOBE NEWSWIRE) -- Macarthur Minerals Limited (TSX-V:MMS) (the "Company" or "Macarthur Minerals") is pleased to announce that Joe Phillips, has been re-appointed as Joint CEO of the Company, along with current CEO, David Taplin. Mr Phillips was appointed as Executive Director of the Company on October 11, 2017.

Mr Joe Phillips was previously the Company's CEO in 2015 and was responsible for the original funding, exploration and development of the Company's iron ore assets, having completed its 2012 Prefeasibility Study for the Ularring Hematite Project and obtaining environmental approvals.Macarthur Minerals now finds itself in a position where development opportunities for its iron ore assets are emerging, as iron ore mining and export infrastructure becomes available with the near term depletion of known iron ore resources in the Yilgarn region of Western Australia.

In addition to this, David Taplin the current CEO, has well positioned Macarthur Minerals in developing a significant hard rock lithium and conglomerate gold tenement position in the Pilbara region of Western Australia. An active permitting and exploration program for this important tenement portfolio will be implemented to fully understand the potential for shareholders.

Cameron McCall, Macarthur Minerals' Executive Chairman, commented:

"Mr. Phillips is very much a "hands on" executive. Joe will be working with the Company's highly experienced resources management team on an active target program focusing on the portfolio of exploration assets in Western Australia and Nevada.I look forward to closing the current fully underwritten Rights Offering, as announced yesterday, and providing management with the resources need to realize shareholder value."

ABOUT MACARTHUR MINERALS LIMITED (TSX-V:MMS)
Macarthur Minerals Limited is an exploration company that is focused on identifying high grade lithium and gold. Macarthur Minerals has significant lithium, gold and iron ore exploration interests in Australia and Nevada. Macarthur Minerals has two iron ore projects in Western Australia; the Ularring hematite project and the Moonshine magnetite project.

On behalf of the Board of Directors,
MACARTHUR MINERALS LIMITED

"Cameron McCall"
Cameron McCall, Executive Chairman

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Caution Regarding Forward Looking Statements
Certain of the statements made and information contained in this press release may constitute forward-looking information and forward-looking statements (collectively, "forward-looking statements") within the meaning of applicable securities laws. The forward-looking statements in this press release reflect the current expectations, assumptions or beliefs of the Company based upon information currently available to the Company. With respect to forward-looking statements contained in this press release, assumptions have been made regarding, among other things, the timely receipt of required approvals, the reliability of information, including historical mineral resource or mineral reserve estimates, prepared and/or published by third parties that are referenced in this press release or was otherwise relied upon by the Company in preparing this press release. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct as actual results or developments may differ materially from those projected in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include fluctuations in exchange rates and certain commodity prices, uncertainties related to mineral title in the project, unforeseen technology changes that results in a reduction in iron ore demand or substitution by other metals or materials, the discovery of new large low cost deposits of iron ore, uncertainty in successfully returning the project into full operation, and the general level of global economic activity. Readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. The forward-looking statements contained in this press release are made as of the date of this press release and except as may otherwise be required pursuant to applicable laws, the Company does not assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.