Mr. Charles Desjardins reports

PISTOL BAY CAPS FINANCING AT $250,000

Pistol Bay Mining Inc. is closing the previously announced private placement (see press release dated Oct. 11, 2019) immediately for gross proceeds of $250,000.

Chief executive officer Charles Desjardins stated, "In view of recent developments in the Dixie area of Red Lake, the board has determined to not take on more dilution than is necessary at this time."

Closing is anticipated to occur Dec. 16, 2019.

About Pistol Bay Mining Inc.

Pistol Bay 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.

We seek Safe Harbor.