Mr. Charles Desjardins reports

PISTOL BAY TO PROVIDE UPDATED 43-101 RESOURCE FOR ARROW ZINC-COPPER-SILVER-GOLD DEPOSIT, CONFEDERATION LAKE PROJECT

Broad Oak Associates is providing a revised National Instrument 43-101-compliant mineral resource for Pistol Bay Mining Inc.'s Arrow zone. The Arrow zone is the most advanced mineralized zone on the 17,400-acre Confederation Lake volcanogenic massive sulphide (VMS) project southeast of Red Lake, Ont.

The Arrow zone lies in the Garnet Lake claim group, one of four properties acquired by Pistol Bay from AurCrest Gold Inc. (formerly Tribute Minerals Inc.). Previous mineral resource estimates, completed by Geoffrey S. Carter, PEng, of Broad Oak, were provided to Tribute Minerals in 2007.

The new resource estimate is not expected to differ by more than a few per cent from the 2007 estimates. Subsequent diamond drilling in the area of the Arrow zone concentrated on possible extensions of the mineralization in the up-plunge and down-plunge directions. Only lower-grade sulphides were intersected, and it was concluded that additional resources were most likely to be found in separate mineralized zones. The multizone character of VMS deposits is well illustrated by the South Bay mine, 16 kilometres to the northeast of the Arrow zone. The South Bay mine produced 1.45 million tonnes with recovered grades of 11.06 per cent zinc, 1.80 per cent copper and 72.7 grams per tonne silver, reportedly from 12 separate ore lenses, the largest of which contained approximately 500,000 tonnes.

Technical information in this news release has been provided or approved by Colin Bowdidge, PhD, PGeo, a qualified person as the term is defined in National Instrument 43-101.

Pistol receives cash injection from Rio Tinto

The company confirms that it has received the $750,000 cash injection from Rio Tinto previously announced March 28, 2017.

About Pistol Bay Mining Inc.

Pistol Bay Mining is a diversified junior Canadian mineral exploration company with a focus on precious and base metal properties in North America.

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