Mr. Thomas Larsen reports

CARTIER IRON EXPANDS BIG EASY PROPERTY, NEWFOUNDLAND AND COMMENCES INDUCED POLARIZATION-DRILLING PROGRAM

Ninety-one additional claims have been staked at Cartier Iron Corp.'s Big Easy property in eastern Newfoundland to bring total holdings including the original acquisition (see press releases Sept. 28, 2017, Oct. 31, 2017, and Nov. 22, 2017) to 369 claims covering 92.3 square kilometres. A 56-line-kilometre induced polarization/resistivity survey (IP/Res) will commence shortly with a 1,000-metre drilling program to follow on key targets outlined from this survey. Cartier Iron has secured the historical drill core at a facility in Clarenville. All diamond drill core is being relogged to better resolve structure and distribution of alteration and mineralization.

Tom Larsen, president and chief executive officer of Cartier Iron, commented: "We are pleased to be moving forward with this program. In addition, we are pleased to announce the hiring of Jeff Burke, PGeo, as exploration manager for Big Easy. Jeff worked closely with Dr. Bill Pearson on the former Hope gold mine for Coastal Gold and brings good expertise in the Avalon zone."

Dr. Bill Pearson, PGeo, chief technical adviser for Cartier Iron, commented: "The IP/Res survey has been designed by our chief geophysicist, Dr. Chris Hale, PGeo, to test the full strike extent between the Big Easy and ET showings and obtain good depth penetration. Our approach is to step back and explore the full extent of the epithermal system. Drill testing of the best IP/Res anomalies will follow.

"Big Easy is a remarkably preserved and extensive low-sulphidation epithermal gold-silver system in the Neoproterozoic Avalon zone. There is some plus-five-kilometre strike potential in the original property which has had only limited drilling. The expanded property covers up to a 17 km strike length. Geologically the mineralization has similarities to that of the Haile mine in South Carolina which is hosted in volcanic and sedimentary rocks of the Carolina slate belt that share a geological affinity with rocks of the Avalon zone."

A detailed compilation of all available regional and property airborne magnetic information indicates that the Big Easy showing occurs on a prominent magnetic boundary between a series of volcanic rocks to the east and sedimentary rocks of the lower Musgravetown group to the west. The Big Easy showing itself is hosted within epiclastic rocks. The magnetic anomaly pattern shows elongated contact-parallel magnetic units as well as several more equant, magnetic anomalies that are interpreted as intrusives. The relationship between these intrusives and the Big Easy epithermal system is not yet clear but they may have provided the heat source to drive the epithermal emplacement of mineralization. The ET showing appears to be along a major northeast-southwest-trending fault within the same volcanic-intrusive package.

Historic diamond drilling of 31 holes totalling 6,497 metres on the property primarily at Big Easy has outlined an extensive mineralized zone approximately 300 to 400 metres wide that has a prospective strike length of plus five kilometres and is open to the north and south. Significant historic drill results include 6.05 grams per tonne gold and 174 g/t silver over 1.5 m (hole BE-11-13), 7.65 g/t Au over 1.0 metre (hole BE-11-07), 0.80 g/t Au over 11.25 m (hole BE-12-10), 1.30 g/t Au over 8.7 m (hole BE-12-12), and 3.54 g/t Au and 511 g/t Ag over 2.0 m (hole BE 16-22) (Newfoundland and Labrador, Department of Natural Resources, mines branch assessment file reports on the property).

Qualified person

Dr. Pearson, a qualified person as defined under National Instrument 43-101, has reviewed and approved the scientific and technical content of this press release. Please note that the drill results presented above for the property are historical in nature and have not been verified hence should not be relied upon. An independent geological consultant has been retained to prepare an NI 43-101 technical report on the property.

About Cartier Iron Corp.

Cartier Iron is an exploration and development company focused on discovering and developing significant iron ore resources in Quebec, and is evaluating a potentially significant gold property in the province of Newfoundland and Labrador. The company's iron ore projects include the Gagnon Holdings in the southern Labrador Trough region of east-central Quebec.

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