Metals Creek Options Jackson's Arm and Tilt Cove Properties in Newfoundland to Anaconda Mining Inc.

TORONTO, ONTARIO--(Marketwired - Nov. 8, 2016) - Metals Creek Resources Corp. (TSX VENTURE:MEK) ("Metals Creek") is pleased to announce that the company has entered into an option agreement, (the "Jackson's Arm Agreement") with Anaconda Mining Inc. (TSX VENTURE:ANX) ("Anaconda"), whereas Anaconda has the right to acquire a 100% undivided interest in Metals Creek's "Jackson's Arm Property".

Metals Creek has also entered into a second option agreement, (the "Tilt Cove Agreement") with Anaconda Mining Inc. whereas Anaconda has the right to acquire a 100% undivided interest in Metals Creek's "Tilt Cove Property" located 60 kilometres east of the Company's Point Rousse Project within the BaieVerte Mining District.

Details of both agreements are as follows:

The Jackson's Arm Agreement: To earn a 100% interest in the Jackson's Arm Property, Anaconda is required to make aggregate payments to Metals Creek of $200,000 in cash ($20,000 two (2) days after TSX approval), and 500,000 common shares of Anaconda (50,000 two (2) days after TSX approval) over a three-year period. The Jackson's Arm Agreement provides for a two percent (2%) net smelter returns royalty ("NSR") to MEK on the sale of gold bearing mineral products from the Jackson's Arm Property. The NSR is capped at $1,500,000, after which, the NSR will be reduced to one percent (1%). Anaconda is required to spend a total of $750,000 in qualified exploration expenditures on the Jackson's Arm Property during the option period.

The Tilt Cove Agreement: To earn a 100% interest in the Tilt Cove Property, Anaconda is required to make aggregate payments to Metals Creek of $200,000 in cash ($20,000 two (2) days after TSX approval), and 500,000 common shares of Anaconda (50,000 two (2) days after TSX approval) over a three-year period. The Tilt Cove Agreement provides for a one percent (1%) NSR to MEK on the sale of goldbearing mineral products from the Tilt Cove Property. Anaconda is also assuming an existing two percent (2%) NSR (the "Existing NSR") on one of the two licenses that comprises the Tilt Cove Property. One percent (1%) of the Existing NSR is purchasable for $1,250,000. Anaconda is required to spend a total of $750,000 in qualified exploration expenditures on the Tilt Cove Property during the option period.