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LiCo Energy Grants Stock Options

Vancouver, BC – February 7, 2020 – LiCo Energy Metals Inc. (“the Company“ or “LiCo”) TSXV: LIC, OTCQB: WCTXF announces that it has granted stock options to certain directors, officers and consultants of the Company to purchase an aggregate 2,500,000 common shares in the capital of the Company. The stock options are exercisable for a term of five years from the date of grant at an exercise price of $0.05 per share. All stock options are granted in accordance with the terms of the Company’s Stock Option Plan and the policies of the TSX Venture Exchange. The stock options granted are also subject to a four month and a day hold period from the date of grant in accordance with applicable securities laws.

About LiCo Energy Metals: https://licoenergymetals.com/

LiCo Energy Metals Inc. is a Canadian based exploration company whose primary listing is on the TSX Venture Exchange. The Company’s focus is directed towards exploration for high value metals integral to the manufacture of lithium ion batteries.

Ontario Cobalt Properties: The Company has entered into an Option Agreement with Surge Exploration Inc. (“Surge”) whereby Surge can earn an undivided 60% interest in the Glencore Bucke and the Teledyne Cobalt Properties, located in Cobalt Ontario, subject to certain cash, share and exploration payments to LiCo. Upon Surge having exercised the Option, Surge will have earned an undivided 60% interest in the Cobalt Properties, and the parties will enter into a Commercially Reasonable and Definitive Joint Venture Agreement.

LiCo has received an independent third-party fairness opinion from an experienced and qualified P.Geo. relating to the Cobalt Properties. The fairness opinion confirms and concludes the terms of the Option Agreement between the Company and Surge is fair to the shareholders of the Company.

Nevada Black Rock Desert Lithium Project:
The Company has entered into an option agreement whereby the Company may earn an undivided 100% interest, subject to a 3% NSR, in the Black Rock Desert Lithium Project in southwest Black Rock Desert, Washoe County, Nevada.

On Behalf of the Board of Directors

“Rick Wilson”

Rick Wilson, President &CEO

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.

Disclaimer for Forward-Looking Information:
This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.