VANCOUVER, B.C. CANADA – TheNewswire - OCTOBER 21, 2021 - BLACK SHIELD METALS CORP. (CSE:BDX) (CNSX:BDX.CN) (“Black Shield” or the “Company”) is pleased to announce the arrangement of a private placement of shares of the Company for aggregate proceeds of $2,000,000 at $0.35 per share (the "Private Placement" or "Offering"). The Company intends to use the proceeds from the Offering for exploration at the Mann Lake uranium project and the CHG gold project, marketing and for general working capital purposes.

All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after the closing of the Offering. This Offering is expected to close on or around November 19, 2021. The Company may increase the size of the Offering to $2,500,000 in its sole discretion.

Completion of the Offering is subject to the approval of the Canadian Securities Exchange (the "Exchange"). Any participation by insiders in the Offering will constitute a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101. The Company may pay finder's fees in connection with the Offering in accordance with applicable laws.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Black Shield Metals Corp.

Black Shield Metals Corp. is a Canadian junior exploration company focused diversified mineral resources.  The Company recently acquired the Mann Lake uranium project, located in the Athabasca basin in Northern Saskatchewan, Canada, and is also currently undertaking the CHG gold exploration project located approximately 15 kilometers northwest of the town of Clinton in south-central British Columbia. The CHG Project consists of seven contiguous mineral claims covering 3,606 hectares.

For further information, please contact Mr. Fred Tejada or view the Company’s filings at www.sedar.com.

On Behalf of the Board of Directors

Cautionary Statement Regarding “Forward-Looking” Information

Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “anticipates”, “plans”, “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES