Intercontinental Gold and Metals Ltd. Announces Strategic Initiative to Increase Gold Recoveries and Production of Small Gold Miner Clients

Toronto, September 4, 2019 - Intercontinental Gold and Metals Ltd. (ICAU:TSXV) (GXMLF:OTC US) (the "Company") a gold refining and commodity trading company, is pleased to announce that it has entered into a Co-Operation Agreement (the "Agreement") with PUM Netherlands Senior Experts ("PUM"). The goal of the Agreement is to review the mining and processing techniques and equipment of our Small Gold Mining clientele and where appropriate introduce new equipment and technologies to improve gold recoveries and work environment, health and economic live of the miners and their families The initiative also involves the support of the Federation of Gold Miners (FERRECO) and the Cámara Nacional de Comercio (Bolivian National Chamber of Commerce) with all stakeholders seeking improved operating and living conditions for small miners and their communities.

Gorden Glenn, CEO commented "Small gold miner, project scale assistance (advisory, technical or financial), has always been a part of the Company's longer-term business strategy to grow and secure gold purchase volumes and further penetrate the Bolivian market. Our gold suppliers regularly comment on the operating challenges they face so it only makes sense to introduce a team of experts to review current operations and where appropriate propose changes that could, potentially lead to increased gold production through higher recovery rates. As reported in our most recent Second Quarter Financial Statements our gold export volumes continue to exhibit a strong growth trend. If successful, this strategic initiative has the potential to further boost gold supplier volumes in favour of the Company."

The key objectives of the Agreement are to review existing mining and processing techniques, introduce new technology to develop operations that ultimately improve the life of small miners, their communities and the environment.

About Intercontinental Gold and Metals Ltd.

Intercontinental Gold and Metals Ltd. is a Next Generation Metals and Mining Company. Our gold refining, physical commodities marketing and trading operations provide insights in global primary supply and demand trends that in turn create a strategic and competitive advantage, investment and expansion opportunities on a global basis. The Company generates revenues from the purchases and sales of gold (accounted for as revenue). Cost of sales is measured at the fair value of the precious metals purchased and inventory sold, which is purchased at a competitive discount from licensed artisanal and small gold miners (ASGM) in Latin America (LATAM). Global ASGM supply is significant and supports a sustainable revenue generation model. We are unique being the only publicly listed gold refining company servicing the LATAM ASGM market.

About PUM Netherlands Senior Experts

PUM Netherlands Senior Experts is a volunteer organization committed to the sustainable development of small and medium-size enterprises ("SME's") in developing countries and emerging markets. PUM operation is supported by a pool of senior experts with hands-on experience in over 35 business fields with many successes in assisting SME's in more than 35 countries. PUM aims to contribute to sustainable and inclusive economic development. Small and medium-sized enterprises (the SME sector) is a vital driving force for economic development. The volunteer experts at PUM share their practical knowledge and experience with their fellow entrepreneurs in developing countries and emerging markets. In that way, they hope to contribute to permanent development within SME enterprises, that as a result become more productive and more competitive, generate more profit and turnover, create better jobs and become more sustainable and more inclusive. In addition, the sharing of knowledge results in mutual satisfaction and inspiration.

Intercontinental Gold has 18,022,000 common shares issued and outstanding that are listed on Canada's TSX Venture Exchange (ICAU.V).

ON BEHALF OF THE BOARD OF DIRECTORS

INTERCONTINENTAL GOLD AND METALS LTD.

Gorden Glenn
President & Chief Executive Officer

Forward Looking Statements

This news release contains forward‐looking information. The statements are based on reasonable assumptions and expectations of management and Intercontinental Gold provides no assurance that actual events will meet management's expectations. In certain cases, forward‐looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although Intercontinental Gold believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Commodity trading has inherent risks. In addition, factors that could cause actual events to differ materially from the forward-looking information stated herein include any factors, which may include changes in market conditions, changes in metal prices, general economic and political conditions, environmental risks, and community and non-governmental actions. Such factors will also affect whether Intercontinental Gold will ultimately receive the benefits anticipated pursuant to relevant agreements. This list is not exhaustive of the factors that may affect any of the forward‐looking statements. These and other factors should be considered carefully, and readers should not place undue reliance on forward-looking information. Intercontinental Gold does not undertake to update any forward-looking information contained herein except in accordance with securities regulation. Actual results or developments may differ materially from those in forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.

Neither the 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.

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