Mr. Paul Parisotto reports

CHANTRELL ANNOUNCES PRIVATE PLACEMENT OFFERING

Chantrell Ventures Corp. has entered into an agreement with Canaccord Genuity Corp. and a syndicate of underwriters to issue, on a bought deal private placement basis, 3.1 million subscription receipts at a price of $3.88 per subscription receipt in the capital of the company for aggregate gross proceeds of approximately $12,028,000.

Each subscription receipt will be automatically converted, without payment of additional consideration, into one unit in the capital of the company in connection with the completion of the proposed business combination between Chantrell and Osisko Mining Inc. that will result in a reverse takeover of Chantrell by Osisko to form a new company to be named O3 Mining Corp., as outlined in the company's press release dated Feb. 20, 2019. The net proceeds of the offering will be held in escrow pending satisfaction of the escrow release conditions, which includes completion of the proposed transaction.

Each unit shall comprise one postconsolidation common share in the capital of Chantrell and one postconsolidation warrant of Chantrell. Each warrant will be exercisable to acquire one additional common share for a period of 36 months following the effective date of the proposed transaction at an exercise price of $4.46 per warrant share.

The company has agreed to grant to the underwriters an option to sell up to an additional 900,000 subscription receipts of the company on the same terms and conditions as the offering, exercisable by the lead underwriter in whole or in part at any time up to 48 hours prior to the closing date (as herein defined).

The net proceeds from the offering will be used by the resulting issuer for exploration and development of the Marban and Garrison deposits, as well as general corporate purposes.

The subscription receipts will be issued on a private placement basis in certain provinces of Canada, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws and such other jurisdictions as may be mutually agreed upon by Canaccord Genuity and the company.

The offering is scheduled to close on or about March 19, 2019, and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities. The proposed transaction will be structured in such a manner as the underlying common shares and warrant shares issuable upon the conversion of the subscription receipts and warrants, respectively, will be freely tradeable on the TSX-V and not subject to any statutory hold period following the closing of the proposed transaction.

In the event that the escrow release conditions are not satisfied prior to July 19, 2019, the proceeds will be returned to the holders of the subscription receipts and the subscription receipts shall be cancelled.

We seek Safe Harbor.