Mr. Marc Enright-Morin reports

CULLINAN METALS ANNOUNCES DEBT SETTLEMENT

Cullinan Metals Corp. has entered into debt settlement agreements to issue an aggregate of up to 875,000 common shares of the company at a deemed price of 20 cents per share to satisfy an aggregate amount of bona fide debt of up to $175,000 to certain creditors of the company.

The company expects to rely on exemptions from the formal valuation requirements of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. Specifically the company is relying upon Subsection 5.5(a) of MI-61-101 (as the company's common shares are listed only on the Canadian Securities Exchange) and exemptions from the minority shareholder approval requirements of MI 61-101, pursuant to Subsection 5.7(1)(b) of MI 61-101 (as neither the fair market value of the units to be issued to insiders nor the consideration to be paid by insiders pursuant to the placement is expected to exceed 25 per cent of the company's market capitalization, as determined in accordance with MI 61-101).

The issuance of shares in connection with this debt settlement will be subject to CSE approval and the shares will be subject to a statutory hold period of four months plus one day from the date of issuance in accordance with applicable Canadian securities laws.

The purpose of the debt settlement is to improve the company's working capital position as it seeks to pursue acquisition transactions.

About Cullinan Metals Corp.

Cullinan Metals is a Canadian mining and exploration company focused on the evaluation and potential development of energy metals. The company is actively reviewing and pursuing opportunities in key energy resources, including copper, graphite and lithium, in select jurisdictions around the world.

We seek Safe Harbor.