INV Metals Reports 2016 Results and Provides Corporate Update

TORONTO, ONTARIO--(Marketwired - March 28, 2017) - INV Metals Inc. ("INV Metals" or the "Company") (TSX:INV) announces that it recorded a total loss from continuing operations of $2,315,168 or $0.04 per share for the year ended December 31, 2016, compared with a total loss from continuing operations of $4,584,869 or $0.07 per share for the corresponding period ended December 31, 2015. The Company's unaudited cash balance as at March 27, 2017 was approximately $32 million. Please see INV Metals' 2016 audited consolidated financial statements and MD&A filed on SEDAR and on the Company's website.

Ms. Candace MacGibbon, Chief Executive Officer, stated, "2016 was a break out year for INV Metals that saw the successful completion of a robust Prefeasibility Study ("PFS") for the Loma Larga gold project ("Loma Larga" or "Project"), located within Ecuador and the further advancement of Loma Larga towards production. Our first equity financing in four years allowed the Company to get a head start and initiate the long lead items required to support a Feasibility Study ("FS") on Loma Larga. We are currently in the process of obtaining proposals for the selection of the contractors to prepare the FS." Ms. MacGibbon added, "2017 is also looking to be a significant year for the Company. We continue to build the Company's executive and technical team with the addition of Bill Shaver as COO. The very positive changes in the tax and mining regime aided by the Ministry of Mines in Ecuador and the advancement of Lundin Gold's Fruta Del Norte gold project, provided the support to commence formal negotiations with the Government of Ecuador of the definitive terms and form of the Mining Exploitation Contract for Loma Larga. We continue to maintain strong local support for the advancement of the Project. Our recent $27.6 million financing provides the Company with funds to undertake the FS on Loma Larga and for the first time in many years, to conduct an exploration drill program aimed at increasing the size of the Loma Larga global gold resources and to explore for additional satellite gold deposits on the property. In addition, we now have funds to acquire and explore highly prospective greenfield prospects located throughout the Ecuadorian Andean Mineral Belt."