June 8th, 2021

Dear Fellow Shareholders and Investors,

This is our inaugural shareholder letter for the ‘new’ TRU Precious Metals Corp. TRU is now officially a mining company. Between January and mid-May, we have undergone a TSX Venture change of business, which was to reclassify as a mining issuer, and completed a major property transaction with a subsidiary of TSX-listed Altius Minerals, who has become TRU’s largest shareholder and strategic investor. Additionally, to fund exploration of that property, we raised $3.5 million in an over-subscribed private placement. All these different but interrelated components came together to fundamentally transform TRU. We now have an exciting flagship property in Golden Rose and a strong and diversified shareholder base, and the market conditions are ripe with opportunity! Thank you for your patience and loyalty to TRU. We are thrilled to be back trading and look forward to communicating with you regularly on all company initiatives.

Despite previously being halted for several months, we endeavored to provide regular updates, as I always felt it was my responsibility to update our shareholders and the broader market on our operations. We wanted you to know that TRU was still working hard and whether we are trading or not, we were still putting things in place for future success. Since my last letter in December 2020, we have made significant progress on several fronts.

The Gold Rush in Newfoundland

If you have been following the news on gold, even intermittently, you may have heard the phrase ‘The Gold Rush in Newfoundland’. Newfoundland is currently one of the premiere mining jurisdictions in the world. Now that gold prices have seen a revival, mineral exploration companies have flocked to Newfoundland, motivated by a flurry of high-grade gold discoveries. Newfoundland has always been the ‘apple of our eye’, so to speak. We recognized the potential of the area in the summer of 2020 and were determined to become a presence in the prolific Central Newfoundland Gold Belt region. Now, less than a year later, we have amassed a 5-project portfolio within the region at various stages of development. While we were not a ‘’first-mover’’ in this enviable address we were certainly an ‘’early-mover’’. This is key for TRU’s long-term success because typically the most prospective major land packages are staked during the early days of the land rush – and we were there in the midst of it.

Golden Rose and Altius

If you are a new investor or if you have not followed TRU, on January 7th of this year, we announced what was a transformative deal. We had signed a binding term sheet with Altius for an option to purchase their Golden Rose Project. As I said at that time, we were thrilled to be partnering with Altius to explore and develop the Golden Rose Project. This acquisition immediately and exponentially advanced our exposure in the Gold Belt. The Golden Rose Project is a regional-scale land package covering 105 km2 within the Cape Ray - Valentine Lake structural corridor (shear zone) and is easily accessible via provincial highway and forest access roads. It is located between Marathon Gold Corp.’s Valentine Gold Project to the northeast, which hosts the largest undeveloped gold resource in Atlantic Canada, and Matador Mining’s Cape Ray Gold Project to the southwest, which also has a known gold deposit. We are excited by the prospects for the Golden Rose Project, which has been historically explored and represents one of the few regional scale land positions within the Valentine Lake structural corridor and boasts numerous gold showings.

There’s More

The merits of Golden Rose are numerous, and we could not have asked for better neighbours in Marathon Gold and Matador Mining. We aggressively pursued the project because of its location, which hopefully ties in with its geological merit and prospectivity. Even so, we also have other strong properties in our portfolio, all concentrated in the prolific Gold Belt region and totaling approximately 23,000 hectares. On June 1st we announced, our summer 2021 exploration plans and on June 2nd we announced a 1,200-metre phase one drill program at our 100% owned Twilite Gold Project. We expect the summer months to be exhilarating for TRU. We have been purposeful in building a commanding land position in the Central Newfoundland Gold Belt and look forward to working on several of our properties over the following months.

To close this letter, I want to share a recent interview where I discussed all of this and more with Star Finance last month. I hope that you will take the time to watch the entire interview as I believe it will give you a comprehensive report on TRU and hopefully will answer any questions that you may have. If a picture is worth a thousand words, I hope this video will prove invaluable as an overview of the history, present, and future for TRU.

Yours Sincerely,

Joel Freudman, Co-Founder and CEO

Barry Greene, P.Geo. is a qualified person as defined by the Canadian Securities Administrators’ National Instrument 43-101 and has reviewed and approved the technical contents and disclosures herein. Mr. Greene is a director and officer of TRU and owns securities of TRU.

Cautionary Statements

This letter contains certain forward-looking statements, including those relating to TRU’s corporate strategies and plans, and to exploring TRU’s mineral exploration properties. These statements are based on numerous assumptions regarding TRU’s corporate and exploration plans that are believed by management to be reasonable in the circumstances, and are subject to a number of risks and uncertainties, including without limitation: the exploration potential of TRU’s properties; risks inherent in mineral exploration activities; volatility in financial markets, economic conditions, and precious metals prices; and those other risks described in TRU’s continuous disclosure documents. Actual results may differ materially from results contemplated by the forward-looking statements herein. Investors and others should carefully consider the foregoing factors and should not place undue reliance on such forward-looking statements. TRU does not undertake to update any forward-looking statements herein except as required by applicable securities laws.