Vancouver, British Columbia–(Newsfile Corp. – June 26, 2019) – ePower Metals Inc. (TSXV: EPWR) (OTCQB: EPWMF) (the “Company”) has entered into a definitive assignment and assumption agreement (the “Assignment Agreement”), dated June
25, 2019, with Minera Alamos Inc. (“MAI”), Vista Gold Corp. (“Vista Gold”), and the Mexican subsidiaries of each of MAI and the Company, pursuant to which MAIwill assign the rights to an option (the “Transaction”) to earn a 100% interest in the Los
Reyes Gold Project (formerly known as Guadalupe de los Reyes) (“Los Reyes”) in Sinaloa State, Mexico. MAI currently has the right to acquire a 100% interest in Los Reyes, pursuant to an option agreement entered into with Vista Gold. The Assignment
Agreement replaces the binding letter of intent, dated April 22, 2019, and entered into between the Company and MAI. The Company is at arms’-length from each of MAI and Vista Gold.