Mr. Gordon McKinnon reports

CANADIAN OREBODIES CLOSES FINAL TRANCHE OF OVERSUBSCRIBED NON-BROKERED PRIVATE PLACEMENT

Canadian Orebodies Inc. has increased the size of the previously announced non-brokered private placement and closed the second and final tranche. In the final tranche, the company raised gross proceeds of $372,185 through the sale of 1,111,000 flow-through shares of the company at a price of 33.5 cents per flow-through share. In total, the company raised $2,061,434.90 through the sale of 6,153,537 flow-through shares.

In connection with the financing, the company paid cash finders' fees of $60,038 and issued 214,712 warrants in total. Each warrant will entitle the holder thereof to purchase one common share of the company at a price of 33.5 cents per share for a period of 18 months from the date of issuance.

The proceeds of the financing will be used for the exploration and advancement of the company's Hemlo area properties. All flow-through shares and warrants issued in connection with the two tranches of the financing are subject to four-month hold periods (expiring on Oct. 16, 2018, and Nov. 5, 2018, respectively). Closing of the financing is conditional upon the receipt of all required regulatory approvals, including the approval of the TSX Venture Exchange.

The company also announces that it has granted incentive stock options to consultants of the company in the aggregate amount of 100,000 under the terms of the incentive stock option plan of the company. The options are exercisable at a price of 28 cents per share for a period of five years and are subject to a four-month hold period from the date of the issuance thereof.

About Canadian Orebodies Inc.

Canadian Orebodies is a Canadian-based mineral exploration company with a portfolio of properties in Ontario and Nunavut. Canadian Orebodies is focused on generating shareholder value through the advancement of its three Hemlo area properties: Wire Lake, Black Raven and the North Limb.

We seek Safe Harbor.