Mr. Saf Dhillon reports

GLACIER LAKE RESOURCES OPTIONS SILVER VISTA PROPERTY

Glacier Lake Resources Inc. has entered into a property option agreement, effective March 15, 2017, with Multiple Metals Resources Ltd., an arm's-length mineral exploration company based in British Columbia. Pursuant to the terms of the option, the company has the right to acquire a series of 49 mineral claims located in the province of British Columbia that make up the Silver Vista copper-silver property.

Silver Vista covers 246 square kilometres and is located 55 kilometres northeast of the town of Smithers in north-central British Columbia. The property covers a mineral prospect (MR) (Minfile No. 093M 195) comprising a road-cut copper-silver showing, which was the subject of diamond drilling (1991), and extensive and strong soil geochemical anomalies (copper/silver), completed in 2012/2013 by Amarc Resources Ltd. Amarc completed 2,700 line kilometres of airborne magnetics and almost 8,000 surface soil samples and had successfully permitted a drill program, but did not drill any of the multiple copper-silver geochemical targets. Silver-copper mineralization is very fine grained and disseminated with no obvious fracture or vein control. The mineralization is "consistent with sediment-hosted copper-silver mineralization formed during the late stages of, or after, diagenesis." The MR deposit bears similarities to the Montanore deposit in Montana.

Robert Weicker, the principal of Multiple Metals, indicated: "I am pleased to be to working with the team at Glacier Lake Resources to discover new copper-silver deposits on the large Silver Vista property. We are looking forward to completing the first drill program this summer since the property was last drilled by Equity Silver Mines Ltd. in 1992."

The company can acquire the property through: (i) the completion of a series of cash payments totalling $230,000; (ii) an issuance of 750,000 common shares of the company; and (iii) the completion of exploration expenditures on the property of not less than $600,000, all in the 36 months following the grant of the option. Following exercise of the option, the property will remain subject to a 2.5-per-cent net smelter return royalty, of which 2 per cent is in favour of Amarc and 0.5 per cent is in favour of Multiple Metals.

The transaction will constitute a fundamental acquisition for the company under the policies of the TSX Venture Exchange.

Following completion of the transaction, it is anticipated that the company would be listed on the exchange as a Tier 2 mining issuer. Closing of the transaction is subject to a number of conditions, including completion of satisfactory due diligence, the completion of a technical report in respect of the property, the approval of the exchange, and the satisfaction of other closing conditions customary in transactions of this nature.

The transaction cannot close until the required approvals are obtained and the outstanding conditions satisfied. There can be no assurance that the transaction will be completed as proposed or at all. Trading in the common shares of the company will remain halted pending further filings with the exchange.

The technical content of this news release has been reviewed and approved by R. Tim Henneberry, PGeo, an independent consultant and a qualified person as defined by National Instrument 43-101, standards of disclosure for mineral projects.

We seek Safe Harbor.