Chibougamau Announces Stock Option Grant

ROUYN-NORANDA, June 25, 2019 - Chibougamau Independent Mines Inc. (TSX VENTURE: CBG) (STUT:CLL) (OTC Markets (USA) : CMAUF) announces that it has granted incentive stock options to certain directors and officers of the Company as well as geologists directly involved in exploration of Chibougamau’s properties to purchase up to 675,000 common shares in the capital stock of the Company under its share option plan. Each option entitles the holder to purchase one common share of the Company at an exercise price of $0.18 and will expire on June 20, 2024. The options granted are subject to the approval of the TSX Venture Exchange and applicable hold and Company vesting periods. Newly appointed director David Lotan has waivered receiving any stock option.

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 the release.