Canoe Mining Ventures Corp. Completes Share Consolidation

OAKVILLE, September 17, 2019 - Canoe Mining Ventures Corp. (TSXV:CLV) ("Canoe" or "Company") announces that, further to its news release of May 16, 2019, effective at the opening of markets on September 18, 2019, the Company will consolidate its common shares on the basis of four (4) pre-consolidation common shares for each one (1) post-consolidation common share (the "Consolidation"). The Company's new ISIN is CA13780T2048 and its new CUSIP is 13780T204. The Company's name and symbol will remain unchanged following the Consolidation.

The Consolidation was authorized by the shareholders of the Company at the Annual and Special Meeting held on March 27, 2019 and has received the approval of the TSXV. The 69,541,236 common shares issued and outstanding prior to the consolidation will, immediately following the Consolidation, become approximately 17,385,309 common shares. Each fractional share that is at least ½ of one post-consolidation common share will be rounded up to one whole post-consolidation common share.

Computershare Trust Company of Canada (the "Transfer Agent") has mailed out letters of transmittal to the shareholders providing instructions on exchanging pre-Consolidation share certificates for post- Consolidation share certificates. Shareholders are encouraged to send their share certificates, together with their letters of transmittal, to the Transfer Agent in accordance with the instructions in the letter of transmittal.

For further information please contact Duane Parnham, President, Chief Executive Officer, and Director at (416) 848-0106.

ON BEHALF OF THE BOARD OF DIRECTORS OF Canoe Mining Ventures Corp.

Duane Parnham

President, Chief Executive Officer & Director

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE: Canoe Mining Ventures Corp.