Mr. Charles Desjardins reports

PISTOL BAY AMENDS FINANCING

Pistol Bay Mining Inc. has amended the terms of its financing previously announced Oct. 25, 2016.

Under the new terms, subject to the approval of the TSX Venture Exchange, the company has arranged a non-brokered private placement of up to 10 million units for total proceeds of up to $810,000. Up to 4.5 million units will be issued as non-flow-through units at a price of seven cents per unit consisting of one common share and one whole warrant. Each whole warrant will entitle the holder to purchase one additional common share of the company at a price of 12 cents per share for 18 months from the date of closing. Up to 5.5 million units will be issued as flow-through units at a price of nine cents per unit consisting of one common share and one-half of one whole warrant. Each whole warrant will entitle the holder to purchase one additional common share of the company at a price of 15 cents per share for 18 months from the date of closing. Finders' fees, as allowed pursuant to the policies of the TSX Venture Exchange, may be payable in connection with the offering.

We seek Safe Harbor.