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File: PSTNR Oct 5 MPH Consulting 2016.docx


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PISTOL BAY RETAINS MPH CONSULTING LIMITED TO REVIEW  HISTORICAL DATA


October 5, 2016: Pistol Bay Mining Inc. (TSX-V - PST; Frankfurt - OQS2) (the "Company') is pleased to announce that th
--->e Company has retained MPH Consulting Limited to carry out a review of all historical geophysical surveys on the Dixie
---> zinc-copper-silver Projects, in preparation for a planned fall diamond drilling program.  The Dixie Projects are in t
--->he Confederation Lake greenstone belt, 35 kilometres southeast of Red Lake, Ontario.  The Confederation Lake belt is k
--->nown for its numerous Volcanogenic Massive Sulphide (VMS) deposits and occurrences.

During the course of previous exploration between 1977 and 2004 by Selco Ltd., BP Minerals, Noranda and Tribute Minera
--->ls Inc. (now Aurcrest Gold Inc.), numerous ground geophysical surveys were carried out, including magnetic surveying, 
--->horizontal loop EM, Large-loop Pulse EM surveys - both surface and borehole, and a Titan 24 Deep Earth Imaging survey 
--->that comprises DCIP and magneto-telluric surveys, also including a borehole probe.  The Titan 24 survey defined a new 
--->"blind" anomaly (i.e. one which does not come to surface) beneath the Dixie 19 zone.  Two diamond drill holes put down
---> in 2002 tested what appeared to be the top of this zone.  Drill hole DX2002-01 was reported to have intersected 1.25 
--->metres averaging 9.71% Zn, 0.20% Cu and 10.7 g/t Ag, and drill hole DX2002-04 reportedly cut 1.25 metres averaging 5.3
--->2% Zn.  These intersections were at vertical depths of 262 and 350 metres respectively.  No deeper drilling was done o
--->n this target, despite the interpretation that the top of the conductor was at 375 metres below surface.

A second, much larger, and much deeper conductive anomaly, was located approximately coincident with, but below the Di
--->xie 20 (also known as "Dixie Gap") anomaly.  The conductive body, modelled by inversion of magneto-telluric ("MT") dat
--->a, has an irregular shape, but was reported to extend over an east-west length of 1,800 metres.  One diamond drill hol
--->e, DX-2003-01A may have intersected the top of the conductive zone.  This hole cut a wide zone of altered felsic pyroc
--->lastic rocks, with variable pyrite content.  The highest individual assays were 0.98% Zn and 1.13% Cu.  Down-hole elec
--->tromagnetic surveying indicated that this hole had penetrated a large (up to 800 * 800 metres) conductive body close t
--->o its edge.  Another model of the surface MT data suggested that the low-resistivity zone may trend close to north-sou
--->th, i.e. sub-parallel to the survey lines and sub-parallel to the drill hole put down to test it.  If this were the ca
--->se, it might reflect a cross-cutting alteration pipe of the type that forms below strata-bound VMS deposits.

Because of the complexity of the historical data, the Company has requested a critical review of all the past geophysi
--->cal surveys that will lead to prioritizing targets for future exploratory drilling.  The review will be carried out by
---> Jeremy S. Brett, M.Sc., P.Geo., Senior Geophysical Consultant, at MPH Consulting Limited.

Field work has successfully located drill hole collars on the Dixie 18, 19 and 20 zones.  Further field work will conc
--->entrate on the Dixie 17 zone.  A differential GPS will then be used to precisely pinpoint drill hole collars to improv
--->e the accuracy of plans and cross sections of the mineralized zones.

In addition to the "lower Dixie 19" and Dixie 20 anomalies referred to, earlier drilling had located and partially del
--->ineated three separate mineralized zones, with the following highlights:

{{● ●} ●} the Dixie 17 zone, with reported drill intercepts that include a 9.5 metre core length averaging
---> 7.34% zinc and 1.4% copper;
{{● ●} ●} the Dixie 19 zone, with reported drill intercepts over a 500 metre length, including 6.33% zinc 
--->and 1.5% copper over a core length of 3.55 metres;
{{● ●} ●} the Dixie 18 zone, with reported drill intercepts over a length of 250 metres and to a depth of 
--->150 metres, including 15.44% zinc, 0.43% copper and 20.9 grams/tonne silver over a 4.3 metre core length.  Noranda rep
--->orted an estimated resource (non 43-101 compliant) of 150,000 short tons averaging 14% Zn.

Technical material in this news release has been prepared and/or reviewed by Colin Bowdidge, Ph.D., P.Geo., a Qualifie
--->d Person as defined in National Instrument 43-101.

About Pistol Bay Mining Inc. 

Pistol Bay Mining Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on precious and base 
--->metal properties in North America.  For additional information please contact Charles Desjardins - pistolbaymining@gma
--->il.com - at Pistol Bay Mining Inc.

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. 
Cautionary note: 

This report contains forward looking statements. Resource estimates, unless specifically noted, are considered specula
--->tive. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By thei
--->r nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factor
--->s that will or may occur in the future. Actual results may vary depending upon exploration activities, industry produc
--->tion, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautio
--->nary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms
--->, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be ec
--->onomically and legally producible under existing economic and operating conditions.