Mr. Kevin Bottomley reports

KING'S BAY ANNOUNCES DEBT SETTLEMENT AGREEMENT WITH LYNX LAKE PROPERTY

King's Bay Resources Corp., further to its news release dated Sept. 21, 2018, has amended the mineral property acquisition agreement of Oct. 4, 2016, whereby the company acquired 100-per-cent right, title and interest in and to 66 mineral claims of a cobalt property located in Happy Valley, Goose Bay, Nfld. In consideration for the purchase of the property, the company agreed to pay a sum of $100,000 in payments of $10,000 upon acceptance of the agreement and $30,000 on each of the subsequent three anniversaries of the agreement. In addition, the company agreed to issue 900,000 common shares, 200,000 shares upon TSX Venture Exchange approval, followed by 300,000 on the first anniversary and 400,000 on the second anniversary of the agreement. By amendment in September, 2018, the $30,000 payment due on the second anniversary was changed to issuance of 600,000 shares of the company.

On Nov. 16, 2018, the company entered into a debt settlement agreement, pursuant to which the company agreed to issue one million common shares instead of paying maintenance costs of all claims which formed a portion of the property (the changed fee shares). The changed fee shares are subject to a statutory hold period of four months and one day from the date of issuance.

We seek Safe Harbor.