Corsurex Announces Further Update to its Annual Filing and Update on Q1 Filing

Vancouver, British Columbia / May 29, 2020 - Corsurex Resource Corp. (CSE: CRC) (the “Company”) announces that, further to its news release dated April 28, 2020, the Company is expecting to file its audited financial statements for the year ended December 31, 2019 (the “Annual Filings”) by the extension date of June 15, 2020 pursuant to BC Instrument 51-515 Temporary Exemption from Certain Corporate Finance Requirements (“BCI 51-515”) and continues to work diligently with its auditors to file the Annual Filings by June 15, 2020.

Update on Q1 Filing

The Company will also be relying on the temporary exemption pursuant to BCI 51-515 in respect to the following provisions:

• the requirement to file interim financial statements for the three months ended March 31, 2020 (the “Financial Statements”) within 60 days after the end of the Company's interim period as required by section 4.4(b) of National Instrument 51-102 Continuous Disclosure (“NI 51-102”);
• the requirement to file management discussion and analysis (the “MD&A”) for the period covered by the Financial Statements within 60 days after the end of the Company's interim period as required by section 5.1(2) of NI 51-102; and
• the requirement to file certifications of the Financial Statements (the “Certificates” and together with the Financial Statements, the “Interim Filings”) pursuant to section 5.1 of National Instrument 52-109 Certification of Disclosure in Issuer’s Annual and Interim Filings and section 4.4(b) [being the filing deadline for interim financial statements] of NI 51-102.

The Company is continuing to work diligently to file the Interim Filings by July 16, 2020.

The Company confirms that there have been no material developments, other than those disclosed through news releases and Form 7 Monthly Progress Reports filed on the Company’s profile with the Canadian Securities Exchange, since the filing of its condensed interim consolidated financial statements for the period ended September 30, 2019.

Additionally, the Company advises that management and other insiders of the Company are subject to a trading black-out policy as described, in principle, in section 9 of National Policy 11-207, Failure to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

ON BEHALF OF THE BOARD OF DIRECTORS

Adrian Hobkirk, President, CEO and Director E: [email protected]

The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

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