Toronto, Ontario October 19, 2021 – Tantalex Resources Corporation (CSE: TTX) (“Tantalex” or the “Corporation”), is pleased to provide an update on the drilling program and continuation of field work activities in the Manono area.

The initial planned 5,000m of aircore drilling on 4 of the 11 historic waste dumps aimed at defining an initial Li-Sn-Ta Mineral Resource Estimate has now been completed and will be extended for an additional 3,000m.

A total of 4,978m was drilled in 104 aircore drillholes on the G, H, I and K dumps in the southern Kitotolo Sector within PER 13698. These four dumps represent nearly 50% of the total measured 105,000,000 metric tons* volume of the 11 dumps within the project.

Drilling was done on both the coarser material on the stacked dumps and the associated fine material on the terrace dumps .

Drilling on the coarse stacked dumps was on a nominal 40m x 40m grid spacing and on the fine terrace dumps at 80m centres along 160m spaced lines (as outlined in Figure 2).

To test the estimated 50,000,000* metric tons contained in the C, D, E and F dumps in the northern Manono Sector an additional 3,000m of aircore drilling is required and will proceed immediately beginning with the E dump. As with the drilling in the southern Kitotolo Sector, planned drilling on the coarse stacked dumps will be on a nominal 40m x 40m grid spacing and on the fine terrace dumps at 80m centres along 160m spaced lines.

Sample Submission & Laboratory Results
An initial three drillholes (MDA011; 013; 015) comprising 131 samples from the H dump fine terrace were received on 21 September at the ALS lab in Ireland. Currently there is a large backlog of samples for the ME-MS89L method and results are expected to take 4-5 weeks.

A second batch of 1078 samples from 27 selected representative holes on the G, H, I and K dumps is expected to arrive at the lab by the end of October.

Recent airborne geophysical studies suggest the Manono-Kitotolo pegmatite extends undercover to the southwest into PR12448. Tantalex drilled 6 holes in 2018 confirming the presence of pegmatite in the northeast corner of PR 12448 where diamond hole BMDD001 intercepted multiple, parallel spodumene-bearing pegmatite bodies totalling 99.5 metres in apparent thickness.

In the south, east of PR12447 on Force Commodities Kitotolo-Katamba Lithium Project shallow reverse circulation drilling intersected a number of low-grade lithium bearing pegmatite veins with widths of between 7m and 16m with many holes ending in mineralisation indicting deeper drilling is required.

The pegmatite corridor as shown on Figure 3 is highly prospective for hard rock lithium and alluvial tin-tantalum production. With Phase 1 Drilling on the dumps will be nearing completion in 2-3 weeks, planning is underway to mobilize our drilling crews along the Corridor and explore some of the most promising targets.

United Cominiere SAS, a joint venture between Tantalex (70%) and COMINIERE SA (30%), holds 2 adjacent permits PR12447 and PR12448, each encompassing about 390 km2. . Manono-Kitotolo is a very large rare-metal pegmatite that extends over an area 800m wide and over 15 km long that has mainly been exploited for cassiterite and columbite– tantalite.

Tantalex controls 25km of a 70km long geologic trend (“pegmatite corridor”) which extends from the AVZ Manono Lithium Tin Project, located immediately east of PR12448 in the north, to Force Commodities Kitotolo-Katamba Lithium Project, located immediately to the west of PR12447 in the south. The ‘’pegmatite corridor’’, is highly prospective for further discoveries and to this day remains highly unexplored.

Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Mr. Gary Pearse MSc, P. Eng, who is a “Qualified Person” as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”).

Cautionary Note Regarding Forward Looking Statements
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although TANTALEX believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, TANTALEX disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

The Canadian Securities Exchange (CSE) has not reviewed this news release and does not accept responsibility for its adequacy or accuracy.

For more information, please contact:

Eric Allard
President & CEO
Tel.: 1-581-996-3007