INV Metals Inc. announced the successful submission of the Environmental Impact Study ("EIS") related to the Loma Larga gold-silver-copper project ("Loma Larga" or "Project") and to provide an update to its ongoing efforts on Loma Larga, the Company's 100% owned underground development project located in Ecuador. The submission of the EIS is the first major milestone in the well defined permitting process for large scale mining projects within Ecuador. The process provides for the timely technical review and comment by the MEW, followed by timely responses to comments by the Company. Subsequent to the completion of the technical review of the EIS by the MEW, INV Metals will commence the citizen participation and consultation phase. INV Metals will continue to work towards goal of the development of Loma Larga and will provide further updates on key milestones to support a positive production decision by the Board of Directors as they are achieved. As previously stated, INV Metals continues to hold discussions with a variety of financial institutions and partners. Concurrently with the permitting process, the Company will actively pursue a number of possible capital financing scenarios for Loma Larga including debt, equity, and a stream or royalty, with the objective of securing the capital requirements for construction prior to the receipt of the Environmental Licence. The EIS is a culmination of more than a decade of baseline data collection, observations, and monitoring of the ecosystems surrounding the Project site. The EIS consists of several key components, which include: a detailed description of the Project; the definition of the regional ecosystems and social environments; an assessment of biodiversity; an impact assessment that details the potential impacts of Loma Larga on the immediate and regional environment; and a management plan that focuses on mitigation activities to minimize or eliminate any potential adverse impacts and to optimize potential benefits to stakeholder communities. The citizen participation and consultation phase will commence subsequent to the review and technical approval of the EIS by the MEW. The transparent citizen participation and consultation process is overseen by an independent consultant and will provide relevant information to local communities regarding the Project and address any concerns related to the development of Loma Larga, including specific details regarding water quality and availability. The Company is also preparing the EIS related to the proposed 69 kV powerline, which is expected to be completed within the next few months. The registration of the Environmental Regularization process for the 69 kV powerline is complete and the various reports requiring approval before EIS submission are under review by the MEW. Loma Larga is not near any lakes or rivers. Water discharged from the Loma Larga Project will be treated and no water will be discharged within the Canton of Cuenca. Treated water will meet stringent Ecuadorian standards and the Company expects the treated water to be of better quality than the water currently found downstream of the discharge point. The underground mine will produce concentrates which do not use cyanide for processing and ~55% of the tailings will be placed underground using the paste backfill method. The remaining tailings will be filtered and placed on a lined and geotechnically stable tailings facility which is designed with berms surrounding the enclosure. The Company continues to work with the MPRO regarding the application for the Investment Protection Agreement ("IPA") relating to Loma Larga. The Company submitted the IPA application in November 2020. The terms of the IPA provide various stability and protective measures for historical and future investments in Loma Larga, in addition to providing fiscal incentives for the Project. According to the prescribed process of the IPA, it is expected that it will take approximately six months from the submission of the IPA application to execution of the IPA.