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Conditional Approval to Acquire Remaining 40% of Unkur Copper-Silver Project and Grants Options

January 8, 2018 Download PDF

AZARGA METALS CORP. ("Azarga" or the "Company") (TSX-V:AZR) has received the conditional approval of the TSX Venture Exchange (the "Exchange"), subject to the Company's disinterestedshareholder approval, to acquire the remaining 40% of the Unkur Copper-Silver Project to increase the Company's interest to 100% on the terms announced on December 11, 2017. The Company has called an annual general and special shareholder meeting for February 14, 2018 where the disinterested shareholders will be asked to vote on this acquisition resolution. The holders of the 40% interest in the Unkur project collectively hold just under 39% of the Company's shares and will not vote on this resolution.

In addition, the Company reports, the directors of Azarga granted a total of 2,320,000 incentive stock options of the capital stock of the Company to directors, officers, employees and consultants exercisable for up to a five year period at an exercise price of $0.15 pursuant to Azarga's shareholder approved stock option plan.

About Azarga Metals Corp.

Azarga Metals is a mineral exploration and development company that currently owns 60% of the Unkur Copper-Silver Project in the Zabaikalsky province in eastern Russia.

AZARGA METALS CORP.

"Dusty Nicol"
Dorian L. (Dusty) Nicol, President and CEO

For further information please contact: Doris Meyer, at +1 604 536-2711 ext 6, or visit www.azargametals.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement:
This news release contains forward-looking statements that are based on the Corporation's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current planned exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Corporation disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.