Intercontinental Gold and Metals Ltd. announced that it has agreed to terms for toll milling services with the Bolivian owner/operator (the "Service Provider") of Ingenio Santa Lucia, a fully licensed 200 tpd mineral processing facility (the "Processing Plant"), located in Potosi, Bolivia. The Service Provider will provide dedicated toll milling services exclusively to the Company for an initial term of 24 months with provisions for extensions. The toll milling services will entail the processing of mined product, to be procured by the Company, utilizing conventional crushing, grinding and flotation technology to produce zinc-silver and lead-silver concentrates. The Service Provider will provide toll milling services at a fixed price (in US dollars) per tonne of mined product processed. The Service Provider will be responsible for all costs incurred in providing the toll milling services, which will include (but not be limited to) the cost of power, water, chemicals, labour, fuel, unloading of mined product at the Processing Plant location, loading of saleable concentrate onto trucks at the Processing Plant location, management of the tailing facility and other costs associated with providing the toll milling services. The Company commenced supply of the mined product to be processed at the Processing Plant in late November 2020. The grade of the mined product being supplied by the Company is forecast in the range of: silver 100 to 500 g/t, zinc minimum 10% and lead from 1% up to 8%. The Service Provider will guarantee minimum metal recoveries for silver of 70%, zinc 85% and lead 70%. The Company will have the right to have its personnel present at the Processing Plant and to supervise the processing of mined product, supplied by the Company, at all times. The Service Provider will be solely responsible for management of the Processing Plant and its tailing facility, and for any damage including environmental damage caused by the Processing Plant and its tailing facility operations.