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File: '\\doc\emailin\20200115 055212 Attachment 2020.01.15    Pistol Bay Acquires Land Package in the Greenstone Belt 
--->in the James Bay Region, Quebec.docx'

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

  



Pistol Bay Acquires Land Package in the Greenstone Belt in the
James Bay Region, Quebec

Vancouver, B.C. - January 15th, 2020: Pistol Bay Mining Inc. (TSX-V - PST; Frankfurt - OQS2, OTC/Pink Sheet symbol SLT
--->FF) ("Pistol Bay" or the "Company") is pleased to announce that it has entered into an option agreement with an arm's 
--->length vendor to acquired a land package in the James Bay Region of Quebec.

The land package comprises of 1690 hectares and is located 12.5 kilometers South West of the recent Azimut Exploration
---> discovery. This property is on strike on the same greenstone belt as the recent Azimut Exploration Inc. discovery. Th
--->e Elmer property of Azimut Exploration and is separated from Pistol Bay property by the Dios Exploration property in t
--->hat region.

"Azimut's management considers these results to be among the most significant gold exploration results in the James Ba
--->y region since the 2004 discovery of the Eleonore deposit by Virginia Gold Mines. The Eleonore mine is currently owned
---> and operated by Newmont". (See AZM.V News release Jan 14, 2020)

Pistol Bay can earn a 100% interest in the Property by issuing 1,000,000 common shares and paying a total of $7,000 on
---> the date of approval. A 2% NSR has been granted to the vendor. Pistol Bay has an option to buy back1% NSR from the ve
--->ndor by paying $500,000 to the vendor.

This transaction is subject to TSX Venture Exchange approval. All shares issued will be subject to a hold period expir
--->ing four 

About Pistol Bay Mining Inc. 

Pistol Bay Mining Inc. (TSXV:PST) is a diversified Junior Canadian Mineral Exploration Company with a focus on gold an
--->d base metal properties in North America, notably the Red Lake district of Ontario. 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, 
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. 

Forward Looking Statements:

Statements included in this announcement, including statements concerning of the Company's plans, intentions and expec
--->tations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking stateme
--->nts". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates
--->", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without 
--->limitation those relating to the Company's future operations and business prospects, are subject to certain risks and 
--->uncertainties that could cause actual results to differ materially from those indicated in the forward-looking stateme
--->nts.