Mr. Doug Fulcher reports

MARITIME RECEIVES 52% SHAREHOLDER CONSENT TO APPROVE PRIVATE PLACEMENT

Maritime Resources Corp. has received support from holders of more than 52 per cent of the company's outstanding shares in the form of written consent to its proposed private placement (as more particularly detailed in the June 22, 2018, release). The majority shareholder support is intended to satisfy the TSX Venture Exchange condition that the company obtain shareholder approval to the offering. The holders of more than 52 per cent of Maritime's outstanding shares who have provided written consent for the offering do not include insiders of Maritime who were excluded by the TSX-V. The company would have had consent from holders of more than 55 per cent of Maritime's shares, if insiders' written consent for the offering would have been included. Closing of the offering remains subject to TSX-V acceptance.

In seeking TSX-V approval for the private placement, the company was advised by the TSX-V that there were concerns raised by Anaconda Mining Inc. that the offering may appear to be undertaken as a defensive tactic to a takeover bid as detailed in National Instrument 62-202 -- Take-Over Bid and Defensive Tactics. In this regard, the company is the subject of an unsolicited hostile takeover bid by Anaconda. It is clear the majority of shareholders disagree with the objections of Anaconda.

Maritime thanks its shareholders for their continued support. The consent letters for the offering provided by shareholders reaffirm the confidence the company's shareholders have in the ability of the company's board and management team to complete the process of advancing Maritime's Hammerdown mine.

Update on hostile bid

Maritime's board has evaluated the hostile bid in light of recent events, including the access Anaconda provided to its data room (as detailed in Maritime's press release dated June 4, 2018) and recent discussions with Maritime shareholders. The company continues to recommend that shareholders do not tender their Maritime shares to the hostile bid and has detailed its position in a directors' circular dated May 1, 2018, which is filed on SEDAR.

To reject the hostile bid, simply take no action -- do not tender your shares. If you have tendered your shares in error or now wish to withdraw them, simply ask your broker or Laurel Hill Advisory Group at 1-877-452-7184 (North America toll-free), 1-416-304-0211 (collect calls outside North America) or assistance@laurelhill.com to assist with that process.

About Maritime Resources Corp.

Maritime Resources holds 100 per cent of the Green Bay property, located near Springdale, Nfld. The property hosts the past-producing Hammerdown gold mine and the Orion gold deposit separated by a 1.5-kilometre distance that sits within an overall strike length of 4,000 metres.

Maritime announced a prefeasibility study (March 2, 2017) that evaluated the measured and indicated National Instrument 43-101 mineral resource estimate for the past-producing Hammerdown gold deposit. The study was completed by WSP Canada Inc., an independent third party engineering firm, with the mandate to evaluate the potential of bringing the past-producing gold mine back into commercial production.

Bernard H. Kahlert, PEng, is the qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical disclosure contained in this release.