Mr. Gordon McKinno reports

CANADIAN OREBODIES COMMENCES FOLLOW UP DRILLING OF HIGH-GRADE GOLD BEARING VEINS AT SMOKE LAKE

Canadian Orebodies Inc. has commenced a drill program to explore the extension and potential additional high-grade gold-bearing veins in the Smoke Lake gold system (SLGS) on the Black Raven property.

This drill campaign is expected to total approximately 1,000 metres, with a majority of the holes to be drilled off ice pads located on Smoke Lake. The ice pads, which the company has been building for the last month, will provide optimal locations for drilling various azimuths to define and follow up on the results received from the fall 2018 round of drilling, which intercepted 133.2 g/t gold over two metres, which included 443 g/t gold over 0.6 metre (see press release dated Dec. 11, 2018).

"We believe we have potential for a significant mineralized gold system in the Smoke Lake area composed of multiple high-grade gold-bearing structures," said Gordon McKinnon, president and chief executive officer of Canadian Orebodies. "We are taking advantage of this unseasonably cold winter to optimize certain drilling angles using ice pads, which will significantly expedite our understanding of the SLGS and hopefully expand the known high-grade gold zones and allow us to discover new ones."

Smoke Lake gold system

From the integration of the historic and the 2018 drilling results, the SLGS is interpreted as an interconnected network of mineralized structures in which gold mineralization is associated with millimetre-wide to centimetre-wide quartz stringers and veins with haloes of disseminated sulphides. Additional drilling is however necessary to confirm the interpreted geometry of the SLGS.

Narrow higher-grade lenses enveloped in broad lower-grade mineralized structures compose the SLGS. The SLGS has so far been intersected by drilling over a strike length of over 400 metres and to a vertical depth of over 130 metres. The vein system remains open in both directions along strike and to depth. Surface mapping of gold mineralization in the area also suggests that additional mineralized structures are likely present in the hanging wall and footwall of the SLGS.

The SLGS was targeted based on the previous work of Freewest Resources Canada Ltd. in 2003 and diamond drilling by Entourage Metals Ltd. from 2011 to 2012. Both exploration programs encountered multiple zones of mineralization in the area and the best diamond drilling intersections were obtained in the Super G vein, which returned assay results of 44.5 g/t gold (uncut) over a drilled width of 2.4 metres (BR-11-04) and 19.2 g/t gold over two metres (BR-11-01). From the 2018 drilling, the high-grade intersection in BR-2018-002 suggests an up-plunge continuity of the zone of high-grade mineralization between BR-11-01 and BR-11-04, whereas BR-2018-003 shows that the zone of mineralization remains open down plunge.

Technical information

This press release has been prepared under the supervision of Quentin Yarie, professional geoscientist, who is a consultant to the company and a qualified person (as such term is defined in National Instrument 43-101). Mr. Yarie has verified the technical data disclosed in this press release. Canadian Orebodies has implemented a quality control program to comply with best practices in the collection and analysis of rock samples. Samples are transported in security-sealed bags to Activation Laboratories Ltd. in Thunder Bay, Ont., for preparation and assay.

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 two Hemlo area projects: Wire Lake and the North Limb.

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