Western Metallica Resources Corp. Announces AGM Results

TORONTO, June 07, 2023 (GLOBE NEWSWIRE) -- Western Metallica Resources Corp. (TSXV: WMS) ("Western Metallica" or the "Company") is pleased to announce the results of its Annual General and Special Meeting of Shareholders held on June 7^th, 2023. The Company announces that the nominees listed in the Management Information Circular dated April 21^st, 2023, for the Annual General and Special Meeting of Shareholders of the Company (the "Meeting") were elected as Directors of the Company. Over 98% of the shareholders that voted at the approved the Director voting resolutions presented, setting the number of Directors at five and re-electing each of Gregory Duras, Peter Imhof, Joaquin Merino, Deepak Varshney and Brigitte Berneche to the Company's Board of Directors.

A total of 16,562,194 votes were represented at the meeting, 32.02% of the Company's 51,728,630 issued and outstanding shares at the record date. Shareholders voted in favor of all matters brought before the meeting including the appointment of auditors and the election of management's nominees as directors.

Detailed results of the vote for the election of Directors held virtually at the Meeting on June 7^th, 2023, are set out below. The shareholders approved the election of Directors of the persons listed below, based on the following votes:

Shareholders at the meeting also approved the appointment of McGovern Hurley LLP as the Company's auditors. Disinterested shareholders also reapproved an omnibus incentive plan pursuant to which the Company may issue restrictive share units and stock options to eligible participants, subject to the receipt of all required regulatory approvals, including approval of the TSXV.

About Western Metallica Resources Corp.

Western Metallica is an Ontario company with its head office in Toronto, Ontario, trading on the TSX Venture Exchange (TSXV) under symbol WMS. Western Metallica is in the business of mineral resource exploration and development, its principal asset is its 100% owned Nueva Celti Copper Property in the Ossa Morena belt in Andalusia, Spain. Western Metallica also holds interests in three other Spanish gold projects in the "Navelgas Gold Belt" in Asturias, Spain (Penedela, Valledor and Sierra Alta).

Further information of the Company can be found at: www.westernmetallica.com

For more information please contact:

Western Metallica Resources Corp.
Gregory Duras
Chief Executive Officer
Email: [email protected]

Investor Relations
Email: [email protected]

Cautionary Note Regarding Forward-Looking Statements

The TSXV has neither approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

This press release contains statements that constitute "forward-statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the planned drill program and the development of the Penedela Project and other mining projects and prospects thereof. Such statements and information reflect the current view of the Company. Risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.