Canoe Appoints New Independent Director to the Board and Grants Options

TORONTO, ON / ACCESSWIRE / May 22, 2020 / Canoe Mining Ventures Corp (TSXV:CLV) ("Canoe" or the "Company") is pleased to announce the appointment of Dr. Roger Laine as an independent member of the board of directors ("Board" or "Board of Directors") of the Company.

"We are pleased to welcome Roger to our Board of Directors. Roger globally known as a uranium specialist also brings tremendous geological expertise to the Company in specific areas the Company is pursuing," said Duane Parnham, CEO and Director of Canoe. "We look forward to leveraging his expertise as we continue working towards maximizing value for shareholders at a time of renewed interest in the mining sector."

Roger Laine, PhD., is a geological engineer with over 40 years of experience in advanced mineral exploration, development, geo-statistics and reserve estimating, copper and copper-gold porphyry deposits, underground and open-pit mines, grade, and quality control using advance computerized information systems. He has held senior roles with several mining companies working in the Americas, West and Central Africa and Europe. Dr. Laine has previously worked closely at the Board level with the Company's CEO Duane Parnham on three other publicly traded issuers, namely, Broadway Gold Mining Ltd., Giyani Gold Corp. and Forsys Metals Corp., where he also served as Forsys' Chief Geologist (2007-2011). Previous roles include Chief Geologist of Zappa Resources (1994-1996), President of ORO Argentina Ltda. (1996-2000), Vice President of Exploration at Landmark Minerals Inc. (2006-2007) and as Technical Advisor following that company's merger with Ucore Uranium Inc. (now Ucore Rare Metals Inc.). He also served a 7-year tenure as Vice President of Exploration for Amok Ltd. (a subsidiary of COGEMA, now part of AREVA). Dr. Laine holds a PhD in economic geology and geosciences from the University of Arizona at Tucson and graduated as a geological engineer from the Nancy Polytechnical Institute in France.

In connection to the above appointment, and subject to approval by the TSX Venture Exchange, Canoe has granted 1,100,000 options exercisable at $0.20 per share to the Board and consultants, in accordance with the Company's stock option plan. The options have a five-year term and vest immediately.

For further information please contact Duane Parnham, President, Chief Executive Officer, and Director at [email protected].

ON BEHALF OF THE BOARD OF DIRECTORS OF CANOE MINING VENTURES CORP.

Duane Parnham

President, Chief Executive Officer & Director

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 press release.

SOURCE: Canoe Mining Ventures Corp