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File: 2019_05_28  Pistol Bay Closes Financing.pdf

                                                                                                                   Pho
--->ne 604 369 8973
                                                                                                                      
--->     TSX-Venture: PST
                                                                                                                      
--->OTC/Pink Sheet: SLTFF
                                                                                                              Suite 70
--->0-838 W Hastings Street
                                                                                                                     V
--->ancouver, BC, V6C 0A6




                                           Pistol Bay Closes Financing
Vancouver, B.C.   May 28, 2019: 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 a non-brokered private placement financing (the "Private Placement") for total gross
proceeds of $355,500.

The Company has allotted and issued 7,110,000 units (the "Units") at a price of $0.05 per Unit.
Each Unit is comprised 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 $0.06.

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 September 29, 2019. The Private Placement is subject to the final approval of
the TSX Venture Exchange.

The Company further announces that Doug McFaul has resigned as a Director and Chief Financial
Officer of the Company. The Company would like to thank Mr. McFaul for his past services.
Charles Desjardins, a current Director, President and CEO of the Company, will assume the role of
Interim Chief Financial Officer.

About Pistol Bay Mining Inc.

Pistol Bay Mining Inc. is a diversified junior Canadian mineral exploration company with a focus
on zinc and base metal properties in North America. The company is also actively pursuing the right
opportunity in other resources to enhance shareholders value. For additional information please visit
the Company website at www.pistolbaymininginc.com or contact Charles Desjardins at
pistolbaymining@gmail.com.

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

"Charles Desjardins"
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.

This news release contains forward looking statements which are subject to various risks and uncertainties concerning 
--->the specific
factors disclosed here. Information provided in this release is necessarily summarized and may not contain all materia
--->l information.
All such forward-looking information and statements are based on certain assumptions and analyses made by the Company
 management in light of their experience and perception of historical trends, current conditions, and expected future 
--->developments,
as well as other factors management believes are appropriate in the circumstances. These statements, however, are subj
--->ect to a variety
of risks and uncertainties and other factors that could cause actual events or results to differ materially from those
---> projected in the
forward-looking information or statements. Such factors include, among others, that the business of exploration for mi
--->nerals involves
a high degree of risk and is highly speculative in nature; changes in world commodity markets, equity markets, costs a
--->nd supply of
materials relevant to the mining industry; change in government and changes to regulations affecting the mining indust
--->ry; few
properties that are explored are ultimately developed into producing mines; geological factors; the actual results of 
--->current and future
exploration; changes in project parameters as plans continue to be evaluated; and those factors disclosed in the Compa
--->ny's publicly
filed documents, including under the heading "Risks" in the Company's most recently filed MD&A. There can be no assura
--->nce that
any mineralization that is discovered will be proven to be economic, or that future required regulatory licensing or a
--->pprovals will be
obtained. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking
---> information
contained in this news release, except as required by law or the policies of the TSX Venture Exchange. Readers are cau
--->tioned not to
place undue reliance on forward-looking information or statements.
 

File: 2019_05_28  Pistol Bay Closes 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 Financing

Vancouver, B.C. - May 28, 2019: 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 a non-brokered private placement financing (the 
--->"Private Placement") for total gross proceeds of $355,500.

The Company has allotted and issued 7,110,000 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 $0.06.

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 September 29, 2019.  The 
--->Private Placement is subject to the final approval of the TSX Venture Exchange.

The Company further announces that Doug McFaul has resigned as a Director and Chief Financial Officer of the Company. 
--->The Company would like to thank Mr. McFaul for his past services.  Charles Desjardins, a current Director, President a
--->nd CEO of the Company, will assume the role of Interim Chief Financial Officer.  

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 other resources to enhan
--->ce shareholders value. For additional information please visit the Company website at www.pistolbaymininginc.com or co
--->ntact Charles Desjardins at pistolbaymining@gmail.com.

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

"Charles Desjardins"        
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. 

This news release contains forward looking statements which are subject to various risks and uncertainties concerning 
--->the specific factors disclosed here. Information provided in this release is necessarily summarized and may not contai
--->n all material information. All such forward-looking information and statements are based on certain assumptions and a
--->nalyses made by the Company management in light of their experience and perception of historical trends, current condi
--->tions, and expected future developments, as well as other factors management believes are appropriate in the circumsta
--->nces. These statements, however, are subject to a variety of risks and uncertainties and other factors that could caus
--->e actual events or results to differ materially from those projected in the forward-looking information or statements.
---> Such factors include, among others, that the business of exploration for minerals involves a high degree of risk and 
--->is highly speculative in nature; changes in world commodity markets, equity markets, costs and supply of materials rel
--->evant to the mining industry; change in government and changes to regulations affecting the mining industry; few prope
--->rties that are explored are ultimately developed into producing mines; geological factors; the actual results of curre
--->nt and future exploration; changes in project parameters as plans continue to be evaluated; and those factors disclose
--->d in the Company's publicly filed documents, including under the heading "Risks" in the Company's most recently filed 
--->MD&A. There can be no assurance that any mineralization that is discovered will be proven to be economic, or that futu
--->re required regulatory licensing or approvals will be obtained.  The Company does not intend, and expressly disclaims 
--->any obligation to, update or revise the forward-looking information contained in this news release, except as required
---> by law or the policies of the TSX Venture Exchange. Readers are cautioned not to place undue reliance on forward-look
--->ing information or statements.