Central Timmins Exploration Corp.: Announces Grant of Stock Options

TORONTO, May 15, 2020 - Central Timmins Exploration Corp. ("CTEC" or the "Company") (TSXV:CTEC) announces that pursuant to its Stock Option Plan, it has granted stock options to directors, officers and consultants of the Company to purchase an aggregate 585,000 common shares in the capital of the Company at an exercise price of $0.34 per share which expire on May 14, 2022. Following this stock option grant, the Company has a total of 1,385,000 stock options outstanding representing approximately 7.5% of the outstanding common shares of the Company. This stock option grant is subject to acceptance by the TSX Venture Exchange.


About Central Timmins Exploration Corp.

CTEC is an early-stage Canadian junior exploration company with property primarily within the city limits of Timmins in the Porcupine Mining District in the northeastern region of Ontario. The Corporation's assets are prospective for gold as well as a suite of base metals. See the company website at www.centraltimmins.com.


Forward Looking Information: This press release contains "forward-looking information" within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. "Forward-looking information" includes statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. Such forward-looking information includes, without limitation, the Corporation's expectations, strategies and plans for the Timmins Properties, including the Corporation's planned exploration activities and the intended uses of the net proceeds of the IPO.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made. Furthermore, such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Corporation to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking information. See "Risk Factors" in the Corporation's final prospectus dated October 4, 2018 filed on SEDAR at www.sedar.com for a discussion of these risks.

The Corporation cautions that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information.

Except as required by law, the Corporation does not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.

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

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

SOURCE Central Timmins Exploration Corp.



Contact

Central Timmins Exploration Corp.
Joseph Ovsenek, President, CEO and Chairman
jovsenek@centraltimmins.com
Tel: +1 (604) 765-3424

Chris Hopkins, CFO
C.Hopkins@live.ca
Tel: 416 786 9793