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File: 2018_10_25  Pistol Bay NR closes first tranche of financing.docx

                                                                                                                      
--->                                                                                                Phone 604 369 8973
                                                                                                                      
--->                  TSX-Venture: PST
             OTC/Pink Sheet: SLTFF
   Suite 700-838 W Hastings Street
                                                                                                                      
--->       Vancouver, BC, V6C 0A6

  



Pistol Bay Closes First Tranche of Financing

Vancouver, B.C. - October 25, 2018: Pistol Bay Mining Inc. (TSX-V - PST; Frankfurt - OQS2, OTC/Pink Sheet symbol SLTFF
--->) ("Pistol Bay" or the "Company') ") is pleased to announce it has closed the first tranche of a non-brokered private 
--->placement financing (the "Private Placement") for total gross proceeds of $425,000.
The Company has allotted and issued 8,500,000 units (the "Units") at a price of $0.05 per Unit.  Each Unit is comprise
--->d of one common share and one transferable warrant, with each warrant entitling the holder to purchase one additional 
--->common share of the Company for a period of up to eighteen months at a price of $0.08.
In addition, the Company has paid finder's fees of a total of $2,000 and issued an aggregate 40,000 finder's warrants 
--->(the "Finders Warrants").  Each Finders Warrant is exercisable into one common share for a period of up to twelve mont
--->hs at a price of $0.05.
The Company will use the proceeds of the Private Placement for general working capital purposes. All securities issued
---> under the Private Placement are subject to a four-month and one-day hold period expiring on February 26, 2019.
About Pistol Bay Mining Inc. 

Pistol Bay Mining Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on zinc and base meta
--->l properties in North America. The company is also actively pursuing the right opportunity in the Cannabis space looki
--->ng to enhance shareholders value. For additional information please visit the Company website at www.pistolbayminingin
--->c.com or contact Charles Desjardins at pistolbaymining@gmail.com.

On Behalf of the Board of Directors
 
PISTOL BAY MINING INC. 

Charles Desjardins, 
President and Director 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the 
--->TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.