Delrey Metals Corp. Completes Initial Public Offering

Vancouver, British Columbia--(Newsfile Corp. - October 24, 2018) - Delrey Metals Corp. (CSE: DLRY) ("Delrey" or the "Company") is pleased to announce that it has successfully completed its initial public offering ("IPO") of 7,500,000 common shares in the capital of the Company (each, a "Share") at a price of $0.20 per Share for total gross proceeds of $1,500,000.

Leede Jones Gable Inc. acted as agent (the "Agent") for the IPO. The Company paid the Agent, and members of its selling syndicate, a cash commission of $135,000 and granted an aggregate of 675,000 agent's options, each of which entitles the holder thereof to purchase one Share at a price of $0.20 per Share for a period of twenty-four (24) months from the date of issuance.

The Company's common shares were listed on the Canadian Securities Exchange (the "CSE"), effective October 22, 2018 and will begin trading on October 24, 2018 under the symbol "DLRY".

The proceeds will be used by the Company to fund its exploration program on its 785-hectare Sunset mineral property situated in the Vancouver Mining Division, located near Pemberton, British Columbia, and for general working capital purposes.

About Delrey

Delrey is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties, specifically in the strategic energy minerals space. The Company has an option agreement to purchase a 100% interest in the highly prospective Sunset property situated in the Vancouver Mining Division and located near Pemberton, British Columbia. Delrey is based in Vancouver, British Columbia, and is listed on the CSE under the symbol "DLRY".

ON BEHALF OF THE BOARD

"Morgan Good"

Chief Executive Officer
Tel: 604-428-5583
Email: morgan@delreymetals.com

www.delreymetals.com

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to the Shares commencing trading on the CSE on October 24, 2018 under the symbol DLRY. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Delrey Metals Corp. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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