Mr. Adrian Lamoureux reports

92 RESOURCES CORP. ANNOUNCES OPTION AGREEMENT WITH OSISKO MINING TO ACQUIRE UP TO 75% INTEREST IN CLAIMS ADJOINING THE COMPANY'S CORVETTE LITHIUM PROPERTY

92 Resources Corp. has entered into an option agreement with Osisko Mining Inc. to acquire up to a 75-per-cent interest in 28 claims directly adjoining the company's 100-per-cent-owned Corvette property. The claims comprise the eastern portion of Osisko's FCI property. Both properties are located in the James Bay region of Quebec, approximately 10 kilometres south of the all-season Trans-Taiga Road and power line infrastructure corridor.

The combined Corvette-FCI property encompasses the entire prospective spodumene-bearing pegmatite trend, currently defined by the CV1, CV2, CV3 and CV4 pegmatites, which occur over a strike length exceeding three kilometres. Collectively, the company now controls more than 15 kilometres of prospective strike length.

The prospective trend is highlighted by the CV1 pegmatite where reconnaissance sampling in 2017 returned 3.48 per cent lithium oxide in grab sample, with exploration in 2018 resulting in two new spodumene-bearing pegmatite discoveries termed CV3 and CV4 (see news releases dated Oct. 5, 2017, and Aug. 13, 2018). Assays from the 2018 channel sampling and prospecting program will be reported shortly.

Company president and chief executive officer Adrian Lamoureux comments: "We are very excited to arrive at this agreement with Osisko for the FCI property. We recognized early on with the discovery of the CV1 and CV2 pegmatites that it would be beneficial to consolidate the entire prospective trend. Today, I am very pleased to announce that we now have the ability to explore several kilometres of the prospective CV pegmatite horizon as one project. The company is well positioned to build upon the significant discoveries made to date and to advance the Corvette-FCI project with the most upside possible for our shareholders."

In addition to the strong lithium potential, the FCI property also includes the Lac Bruno gold showing, defined as a gold- and sulphide-bearing amphibolite boulder with an assay of 38.1 grams per tonne Au. The showing was discovered by Virginia Mines Inc. and highlights a boulder field in the area with a source yet to be located. Additional work was recommended up-ice of the discovery, within the Corvette-FCI property, and has yet to be completed. The FCI property also includes the sericite showing where a grab sample from a sulphide-bearing sericite schist returned 0.3 g/t Au, 150 g/t silver, 1.89 per cent copper, 11.15 per cent lead and 1.45 per cent zinc. Although not a focus for the company, the base and precious metal potential of the properties is evident and additional groundwork is warranted.

Terms of agreement

Under the terms of the agreement, the company may earn a 75-per-cent interest in 28 claims comprising Osisko's FCI property by satisfying the following conditions, subject to TSX Venture Exchange approval:

• Issuance of one million shares upon closing date of the agreement;
• Incurring $250,0000 in work exploration expenditures and issuing of one million shares on or before the first anniversary date of closing;
• Incurring $800,0000 in work exploration expenditures on or before the second anniversary date of closing, upon which the company would vest a 25-per-cent interest;
• Incurring $1.2-million in work exploration expenditures on or before the third anniversary date of closing, upon which the company would vest an additional 25-per-cent interest, for a total of 50-per-cent undivided interest in the FCI property.

Osisko will act as operator of the FCI property for the term of the 50-per-cent earn-in, with a steering committee of equal representation formed to provide advice and direction to the operator. Upon completion of the 50-per-cent earn-in (third anniversary of TSX-V approval (or closing), a joint venture corporation will be formed with the company retaining an option to acquire a further 25-per-cent interest, for a total of 75-per-cent undivided interest, though financing of the next $2-million in exploration expenditures. The company may become operator upon notice to Osisko that it intends to incur the $2-million in work expenditures for a final undivided interest of 75 per cent. Osisko's remaining 25-per-cent interest may be further reduced through dilution if it elects to not finance its portion of subsequent exploration/development. If ownership falls below 10 per cent, Osisko will have the right to convert this remaining interest into a 1-per-cent net smelter royalty (NSR), of which, the company retains the right to buy for $5-million (cash or shares), and thereby, would obtain a 100-per-cent undivided interest in the FCI property.

About 92 Resources Corp.

92 Resources is a modern energy solution company, focused on acquiring and advancing strategic and prospective modern energy-related projects. The company currently holds four principal assets in Canada: the Corvette and Pontax lithium properties in Quebec, the Golden Frac sand property, British Columbia, and the Hidden Lake lithium property, Northwest Territories, currently under option to Far Resources Ltd.

National Instrument 43-101 disclosure

Darren L. Smith, MSc, PGeol, of Dahrouge Geological Consulting Ltd., a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.

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