NRG Metals closes $200K private placement

News Release

NRG Metals Announces Closing of Non-Brokered Private Placement

Vancouver, BC / September 14, 2017 / NRG Metals Inc. (the “Company”) (“NRG” or the “Company”) (TSX-V: NGZ) (OTCQB: NRGMF) (Frankfurt OGPN), is pleased to announce that it has completed a non-brokered private placement of 2,000,000 units at a price of CAD$0.10 per unit, raising gross proceeds of CAD$200,000.

Each unit is comprised of one common share and one transferable common share purchase warrant exercisable for a period of two years at an exercise price of CAD$0.20 per share, provided that in the event that the closing price of the Company’s common shares on the TSX Venture Exchange is CAD$0.40 or greater per common share during any 20 consecutive trading day period at any time subsequent to four months and one day after the closing date, the warrants will expire at 4:00 p.m. (Vancouver time) on the 30th day after the date on which the Company provides notice of such accelerated expiry to the warrantholders, and the warrantholders will have no further rights to acquire any common shares of the Company under the warrant.

The Company paid finder’s fees of 8% cash and 8% finder’s warrants to Raymond James Ltd.

The private placement proceeds will be used, in addition to existing treasury funds, to fund the initial drill program at the Salar Escondido Lithium Project, Catamarca Province, Argentina. The Salar Escondido is comprised of approximately 29,180 hectares, and covers a large basin roughly 20 by 40 kilometers in size, which is mostly covered by a series of overlapping alluvial fans. NRG’s technical team believes that a large salar with an area of at least 700 km2 developed in the basin about 2 million years ago.

As reported in a news release dated November 21, 2016, the Company tested the paleo-salar hypothesis by conducting a Vertical Electric Sounding (V.E.S.) geophysical survey over the central part of the basin. The survey detected an extensive zone of very low resistivity, which management believes represents a zone of saturated saline brine that may contain lithium.

The objective of the drill program will be to test this hypothesis.

A drill contractor has been identified and the company is in the final process of finalizing the program. Full details on this Phase One Drill Program will be announced in the immediate future.

About the Company

NRG Metals Inc. is an exploration stage company focused on the advancement of lithium brine projects in Argentina. In addition to the Salar Escondido lithium project, the Company is evaluating the 3,287 hectare Hombre Muerto North lithium project in the province of Salta. The Hombre Muerto North project is located at the northern end of the prolific Hombre Muerto Salar, adjacent to FMC’s producing Fenix mine and Galaxy Resources’ Sal de Vida development stage project. As announced in a press release dated July 13, 2017, the Company has filed an Environmental Impact Study and applied for permits to drill the Hombre Muerto North Project.

NRG Metals Inc. currently has 69,405,885 shares issued and outstanding following completion of this private placement, and trades on the TSX Venture Exchange under symbol NGZ, on the OTCQB Market under symbol NRGMF, and on the Frankfurt Stock Exchange under symbol OGPN.

On behalf of the board of directors of NRG Metals Inc.,
Adrian F.C. Hobkirk
President and CEO
T: 714.316.3272
E: ahobkirk@nrgmetalsinc.com
W: www.nrgmetalsinc.com