Mr. Paul Mann reports

ALCHEMIST ENTERS INTO A BINDING LETTER OF INTENT WITH ISLAND GENETICS TO PRODUCE UNIQUE NATURAL CANNABIS REMEDIES

Alchemist Mining Inc. has signed a binding letter of intent to enter into an agreement which will see the exchange of common shares of Island Genetics and the company reflecting a 15-per-cent interest in Island Genetics. The purpose of the agreement is to commercialize the existing genetics library of Island Genetics and further develop new strains of cannabis, targeting specific ailments. The exchange shall be valued at $112,500.

Island Genetics is a company based out of British Columbia with an emphasis on research and development within the cannabis industry as well as a focus on the production and preservation of exotic heirlooms, unique hybrids as well as cannabis strains with specific chemical profiles. Island Genetics began in 2013 as a research project for Davis Allen to treat his chronic stomach disorder. Once having received an MMAR (Marijuana Medical Access Regulations) licence to use cannabis for medical purposes, Mr. Allen began to build a humble, genetic library comprising diverse cultivars with different chemical content and profiles. When his condition and symptoms worsened, the lack of available data from the emerging MMPR (Marijuana for Medical Purposes Regulations) system pushed Mr. Allen's passion into a research project, which primarily focused on the preservation of exotic cultivars, classic hybrids and strains that may be utilized for breeding purposes, by isolating specific chemical compounds. The genetic library at Island Genetics consists of a variety of cannabis strains, including heirloom indica/sativa varieties and hybrids with unique chemical contents.

"Having recently announced a partnership to deliver transdermal cannabis patch technology, it was the natural next step to partner with a group like Island Genetics that is targeting specific ailments and researching and developing the best of breed cannabis strains to address them," said Paul Mann, Alchemist's chief executive officer.

Davis Allen, founder of Island Genetics, said: "We look forward to working with Paul and his team at Alchemist because we truly believe the products that he is working on will have a powerful impact on the cannabis industry. We also admire Paul's professionalism and by-the-book approach -- which is less common in this industry than people think. This has given us the confidence to take this step with Alchemist and become a partner."

We seek Safe Harbor.