Mr. Michael England reports

BTU CLOSES FIRST TRANCHE OF FINANCING

BTU Metals Corp. has closed a first tranche of its previously announced non-brokered private placement (see press release dated Sept. 14, 2017) issuing 5,114,500 units at a price of 12 cents per unit for aggregate proceeds of $613,740.

Each unit comprises one common share and one-half of one share purchase warrant of the company. Each full warrant will entitle the holder to purchase one share at a price of 18 cents per warrant share for an 18-month period after the closing date. The warrants are subject to an acceleration clause, which states that the issuer will have the right to accelerate the expiry date of the warrants if, at any time, the average closing price of the shares is equal to or greater than 30 cents for 10 consecutive trading days. In the event of acceleration, the expiry date will be accelerated to a date that is 30 days after the issuer issues a news release, announcing that it has elected to exercise this acceleration right. Finders' fees of $31,267.20 will be payable including 264,560 broker warrants.

Paul Wood, chief executive officer of BTU Metals, said: "We are pleased with the support the market has shown us and welcome all the new shareholders who participated in this round of financing and look forward to closing on the second tranche shortly. This financing enables BTU to commence its Irish work program on schedule in October. The company has also commenced its exploration program on our Shakespeare property and we look forward to updating the market on the results of these programs as they progress."

The proceeds raised will be used for general corporate purposes and for advancing the company's 16,640-hectare Galway gold project located in County Galway, Republic of Ireland. The work program will include ground geophysics, geological sampling and mapping, trenching, and drill target generation to commence next month.

We seek Safe Harbor.