T2 Metals Corp. — Capital/Financing Update 2020

May 22, 2020

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AGUILA AMERICAN ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Vancouver, British Columbia – May 21, 2020: Aguila American Gold Limited (“Aguila” or the “Company”) (TSX-V: AGL) announces that the Company has arranged a non-brokered private placement financing to raise gross proceeds of up to $300,000 by issuing up to 3,000,000 units, at a price of $0.10 per unit, with each unit comprising one common share and one-half of a share purchase warrant. Each whole warrant entitles the holder to purchase an additional common share at a price of $0.13 for two years. The proceeds will be used for general working capital. Insiders will participate in this financing.

The private placement is subject to the acceptance for filing by the TSX Venture Exchange. All securities issued will be subject to a four month hold period from the date of closing.

ON BEHALF OF THE BOARD,

“Nick DeMare”

Nick DeMare Interim CEO and CFO

Neither 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.