MRV

Metallum Resources Inc. (TSX VENTURE:MRV) ("Metallum" or "Company") announces
that is has completed a detailed geophysical program covering, and extending
beyond, the known gold/silver mineralization exposed for approximately 1.2
kilometres ("km.") of strike and 0.5 km. of width on surface at its M-18
gold/silver property in Chubut province, Argentina. The objective of the
geophysical program was to assist in defining additional strike length, width,
and depth to this mineralized zone. Gold and silver occurs disseminated within a
low sulphidation system of quartz veining and quartz stockwork. 


Quantec Geoscience (Mendoza, Argentina) completed approximately 58.8 line km. of
gradient Induced Polarization ("IP") and ground magnetics with supporting
coverage using pole-dipole IP. The original planned geophysical program called
for approximately 42 line km. of survey (see Metallum's press release of August
11, 2011), however, open-ended anomalies identified after completion of the
original planned program required additional work to properly investigate these
anomalies along strike.


Geophysical coverage extended approximately 1.4 km. and 500 m respectively along
strike in each direction beyond the exposed gold/silver mineralization as well
as approximately 800 m in each direction beyond the exposed width of the
mineralized zone. The survey coverage included evaluation of a large untested
zone of argillic alteration occurring within a few hundred metres of the known
gold/silver mineralization.


Results from the geophysical survey showed that the known exposed zone of
gold/silver mineralization is clearly identified on the gradient and pole-dipole
IP chargeability and resistivity at depth and along strike. Furthermore, IP
anomalies related to this mineralized zone extend beyond the exposed rock
beneath the cover of gravels, indicating that the gold/silver mineralization is
potentially continuing along strike. In addition to this, the large zone of
argillic alteration shows a strong chargeability/low resistivity anomaly
extending for approximately 2 km in strike and 600 m in width. Depth extent to
this zone continues beyond the 250 m investigation depth of the IP
detectability.


View IP gradient chargeability map:
http://metallumresourcesinc.com/Projects/Argentina/Survey/.


As well, the ground magnetics survey supports some of the structural features
identified by the gradient IP and has also identified a strong magnetic feature
on the east end of the survey area which will be investigated by geological work
and/or drilling.


Metallum also reports that the geological program comprising an extensive
campaign of geological mapping, detailed channel sampling, and approximately 8
km. of trenching with channel sampling is planned to commence during October,
2011. The objective of the program is to expose additional strike and width to
the 1.2 km strike and 0.5 km width of the known gold/silver mineralization,
which is covered by a thin veneer of gravels at its perimeter and remains open
in all directions. As well, the geological work will evaluate the large zone of
argillic alteration (mentioned above) in context with the strong IP
chargeability/low resistivity response identified from the geophysical survey.


Results compiled from both the geophysical program and planned
geological/sampling programs will identify primary targets for a Phase 1
drilling campaign planned for Q-4, 2011. 


Metallum's President and CEO, Greg Lipton, states that "Metallum is excited by
the results from the geophysical program. The known zone of gold/silver
mineralization clearly shows strike extension beneath the gravels as well as at
depth. In addition, the strong IP chargeability/low resistivity anomaly covering
the large, untested zone of argillic alteration is indicative of mineralization
continuing at depth. Also, additional, highly anomalous geophysical targets have
been identified elsewhere on the property. Metallum now looks forward to the
detailed channel sampling and trenching program that is about to begin on the
property to add another dimension for target development for the Company's
drilling program." 


Metallum is earning a 70% interest in the M-18 property under an Option and
Joint Venture Agreement from Silver Standard Resources Inc. ("Silver Standard").
Previous geological mapping and rock outcrop sampling by Silver Standard
identified a gold/silver-bearing epithermal vein system with intense alteration
over a strike length of at least 1.2 km. with widths of 0.5 km. 


About Metallum Resources Inc.

Metallum Resources Inc. has 53,803,828 common shares outstanding and in excess
of $5 million in cash, with no debt, as of today's date.


Forward-looking Statements:

This new release contains forward-looking statements including, but not limited
to, comments regarding the timing and content of up-coming work programs,
geological, geophysical, and geochemical interpretations, etc. Forward-looking
statements address future events and conditions and therefore involve inherent
risks and uncertainties. Actual results may differ materially from those
anticipated in such statements.


Further details may be obtained from our website www.metallumresourcesinc.com.

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