MRV

Metallum Resources Inc. (TSX VENTURE:MRV) ("Metallum" or the "Company")
announces that Trelawney Mining and Exploration Inc. ("Trelawney"), a
wholly-owned subsidiary of IAMGOLD Corporation ("IAMGOLD"), has agreed to
purchase the remaining 0.5% of the Net Smelter Return ("NSR") production royalty
from Metallum's former 'Chester Gold Property', (which Metallum sold to
Trelawney on November 27, 2009) in Chester Township, Ontario, Canada for
USD$1,800,000 (the "Transaction"). 


As previously announced by the Company on June 20, 2012, Trelawney exercised its
right to purchase 0.5% of the NSR, thereby reducing the NSR held by Metallum to
0.5%. As a result of the Transaction, the full balance of the NSR has now been
acquired by Trelawney. 


In addition to the purchase price of USD$1,800,000, in consideration for the
balance of the NSR held by the Company, Trelawney also agreed to subscribe for a
total of 3,370,749 common shares in the capital of the Company (the "Common
Shares") for gross proceeds of USD$250,000 (the "Private Placement"). Metallum
intends to use the proceeds from the Transaction and the Private Placement for
exploration work on its M-18 property, strategic acquisitions, and general
working capital. 


The Common Shares issued in connection with the Private Placement are subject to
a statutory hold period of four months plus one day from today's date. 


Greg Lipton, President and CEO of the Company, states in reference to the
Transaction and the Private Placement: "I am particularly pleased by the show of
support and confidence in the management of Metallum by IAMGOLD and Trelawney as
evidenced by their direct investment into the Company". 


About Metallum Resources Inc. 

Metallum is earning a 70% interest in the M-18 property under an Option and
Joint Venture Agreement from Silver Standard Resources Inc. Geological mapping,
rock outcrop sampling, and bedrock channel sampling by Metallum Resources Inc.
has 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. 


Metallum Resources Inc. has, following the completion of today's Private
Placement, 70,945,009 common shares outstanding and in excess of CAD$8.5 million
in cash, with no debt, as of today's date. 


Greg Lipton, P.Geo., the Company's President, CEO, and Qualified Person has
reviewed and approved the contents of this press release. 


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

Forward Looking Information Caution: 

This press release presents "forward-looking statements" within the meaning of
Canadian securities legislation that involve inherent risks and uncertainties.
Forward-looking statements include, but are not limited to, statements with
respect to the future price of gold and other minerals and metals, the
estimation of mineral reserves and resources, the realization of mineral reserve
estimates, the capital expenditures, costs and timing of the resources, the
realization of mineral reserve estimates, the capital expenditures, costs and
timing of the development of new deposits, success of exploration activities,
permitting time lines, currency exchange rate fluctuations, requirements for
additional capital, government regulation of mining operations, environmental
risks, unanticipated reclamation expenses, title disputes or claims and
limitations on insurance coverage. Generally, these forward-looking statements
can be identified by the use of forward looking terminology such as "plans",
"expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved". Forward-looking statements are subject to known and
unknown risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of Metallum to be
materially different from those expressed or implied by such forward looking
statements, including but not limited to: risks related to international
operations, risks related to the integration of acquisitions; risks related to
joint venture operations; actual results of current exploration activities;
actual results of current or future reclamation activities; conclusions of
economic evaluations; 

changes in project parameters as plans continue to be refined; future prices of
gold and other minerals and metals; possible variations in ore reserves, grade
or recovery rates; failure of equipment or processes to operate as anticipated;
accidents, labour disputes and other risks of the mining industry; and delays in
obtaining governmental approvals or financing or in the completion of
development or construction activities. Although the management and officers of
Metallum believe that the expectations reflected in such forward-looking
statements are based upon reasonable assumptions and have attempted to identify
important factors that could cause actual results to differ materially from
those contained in forward-looking statements, there may be other factors that
cause results not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements. Metallum Resources does not undertake to update any forward-looking
statements that are incorporated by reference herein, except in accordance with
applicable securities laws.

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