Mr. Peter Tegart reports

DEFAULT ANNOUNCEMENT PURSUANT TO NATIONAL POLICY 12-203

Finore Mining Inc. does not anticipate being in a position to file its audited annual financial statements, management's discussion and analysis, and related certifications for the fiscal year ended Dec. 31, 2015, on or before April 30, 2016, as required, due to difficulties under recent prevailing market conditions to procure financing for working capital to meet the issuer's operational needs. However, as announced in a news release dated March 24, 2016, the issuer has completed the first tranche of a non-brokered private placement of 4.45 million units, raised gross proceeds of $89,000 and is continuing to obtain subscriptions for additional tranches of a total of up to 5.55 million units to raise up to $110,000. The issuer intends to have the auditor complete the audit of the statements as soon as possible. The B.C. Securities Commission granted Finore 60 days from April 30, 2016, to file the audited financial statements for the year ended Dec. 31, 2015, no later than July 4, 2016.

Accordingly, the issuer has requested the issuance of a management cease trade order under the provisions of National Policy 12-203 (cease trade orders for continuous disclosure defaults) so as to permit the continued trading in the issuer's common shares by persons other than insiders and employees of the issuer.

The issuer confirms that it intends to satisfy the provisions of Section 4.4 of NP 12-203 and issue biweekly default status reports for so long as the issuer remains in default of the financial statement filing requirement, containing any material changes to the information in this release, all actions taken by the issuer to remedy the default, particulars of any failure by the issuer to fulfill these provisions, and any subsequent defaults of the issuer requiring a default announcement and any other material information concerning the affairs of the issuer not previously disclosed. The issuer is not subject to any insolvency proceedings, nor is there any other material information concerning the affairs of the issuer that has not been generally disclosed.

We seek Safe Harbor.