Barsele Minerals Corp. (TSX-V: BME) is pleased to report an operational update for the ongoing exploration program within the Barsele Gold-VMS Project area in Västerbottens Län, northern Sweden. The exploration program is being operated by joint venture partner Agnico Eagle Mines Limited – (TSX, NYSE: AEM). Ownership in the Barsele Project is 55% Agnico Eagle and 45% Barsele. Agnico Eagle can earn an additional 15% in the Barsele Project through the completion of a pre-feasibility study. There is no cash outlay requirement by Barsele until a pre-feasibility study is completed.

Three drills were operational during the month of August, 2018. As of the end of August, 27,346 metres of core has been collected from 66 completed holes, since drilling was re-started in early January. The main focus of this month’s drilling has been on regional targets within the Risberget and Skirliden areas, as well as proximal and regional VMS targets.

Seven drill holes are presented in this news release. At the Avan Zone, one expansion hole is documented, along with three infill and two expansion holes at the Central Zone and one expansion hole southwest from the Skiråsen Zone. Three regional exploration holes were completed at the Risberget Zone, with one ongoing at month end. At the Skirliden area, along the southeastern extension of Lake Skirträsket, three regional exploration holes were completed, including two covering VMS targets. Additionally, six regional VMS holes were completed in other sectors of the property. Base of till drill testing continued in August, with 663.5 metres probed in 75 holes. Regional surface till sampling was ongoing, with 340 samples collected.

At the Central Zone, drill hole CNT18008 intersected two shallow gold-bearing zones, with the best intercept being 58.1 metres (estimated true thickness) grading 1.37 g/t gold, at a midpoint depth of 65 metres below surface. Hole CNT18009 cut 57.0 metres (estimated true thickness) grading 1.60 g/t gold at a midpoint depth of 65 metres below surface. Hole CNT18010 intersected three shallow gold-bearing zones; including 19.0 metres (estimated true thickness) grading 1.27 g/t gold, at a midpoint depth of 20 metres below surface, plus 4.0 metres (estimated true thickness) grading 3.57 g/t gold, at a midpoint depth of 40 metres below surface and 53.0 metres (estimated true thickness) grading 1.03 g/t gold, at a midpoint depth of 75 metres below surface.

At the Skiråsen Zone, hole SKI18007 cut five gold-mineralized intervals with the highlight intercepts being 4.0 metres core length (estimated 1.0 metre true thickness) grading 10.09 g/t gold, at a midpoint depth of 150 metres below surface, plus 19.0 metres core length (estimated 6.3 metres true thickness) grading 2.20 g/t gold, at a midpoint depth of 280 metres below surface, plus 15.0 metres core length (estimated 5.5 metres true thickness) grading 3.74 g/t gold at a midpoint depth of 355 metres below surface.

Barsele’s President, Gary Cope states; “Along with drill testing the Avan, Central and Skiråsen zones, drilling also focused on regional targets at the Risberget Zone, as well as five VMS target areas within the large claim block.”

The technical information in this news release was verified by way of a site visit in late September of 2018, by the Qualified Person, wherein the data was discussed with the site management and the technical staff and the database was reviewed and drill core was examined. The quality control/quality assurance program at the Barsele Project is described on the Barsele website at http://barseleminerals.com/s/QAQCProcedures-Barsele.asp.

All samples referred to in this table were tested at independent ALS Laboratories in Romania and Ireland, using ultra trace level method (ME-MS61)-48 element by using four acid digestion together with ICP-AES and ICP-MS analytical methods. Gold is tested by fire assay, aqua regia digestion and analysed with an atomic absorption spectroscopy (AAS) or gravimetric finish depending on grade (Au-AA24 and Au-GRA22). Each method has a lower and upper calibration range for which results are accurately determined.

As project operator, Agnico Eagle has developed a community relations program to engage the various stakeholders in the Barsele Project area. Basic environmental assessment and surface water characterization, species studies and hydrogeology studies are ongoing.

About the Barsele Gold Project

The Barsele Project is located on the western end of the Proterozoic “Skellefte Trend”; a prolific volcanogenic massive sulphide deposits belt, that intersects with the “Gold Line” in Northern Sweden. Both polymetallic deposits and intrusive hosted orogenic gold deposits are present in this region and on the property. Current and past producers in the region include Boliden, Kristineberg, Bjorkdal, Svartliden and Storliden.

Drilling has been focused on verifying, defining and expanding the mineral resources within and along the Avan, Central and Skiråsen zones and recently the Risberget Zone and the Skirliden area, as well as numerous VMS targets throughout the large claimed area.

The main gold-bearing system remains open in all directions. The structurally-linked mineralized zones occur within granodiorite-volcanic-sedimentary host rocks and vary in width from 10’s of metres to 500 metres and have been traced over a strike length exceeding 8.0 kilometres. Gold is generally associated with arsenopyrite and low base metal content, but also occurs as native metal.

Art Freeze, P.Geo. is the Qualified Person as defined in NI 43-101 and takes responsibility for the technical disclosure contained within this news release.

About Barsele Minerals Corp.

Barsele is a Canadian-based junior exploration company managed by the Belcarra Group, comprised of highly qualified mining professionals. Barsele’s main property is the Barsele Gold Project in Västerbottens Län, Sweden, a joint venture with Agnico Eagle. An updated NI 43-101 Technical Report on the Barsele Project with an Effective Date of February 16^th, 2018, was filed on SEDAR on April 12^th, 2018.