Confederation Minerals Ltd. Clarifying Previously Announced Private Placement

Suite 1980, 1075 West Georgia Street, Vancouver, British Columbia, V6E 3C9 Tel: 604 688 9588; Fax: 778 329 9361

October 5, 2016 TSX-V Symbol: CFM

Confederation Minerals Ltd. Clarifying Previously Announced Private Placement

Vancouver, British Columbia, Canada, Confederation Minerals Ltd. (TSX-V: CFM) (“Confederation” or the “Company”) clarifies that, the Company may issue up to 2,526,315 Units in its non-brokered private placement, previously announced on September 14, 2016, at a price of $0.38 per Unit for gross proceeds of up to $960,000. Each Unit will consist of one common share and one share purchase warrant and each warrant will entitle the holder to purchase one further common share in the capital of the Company at a price of $0.56 per share for a period of two years from the closing of the Offering.

On behalf of the Board of Directors,

Confederation Minerals Ltd.

“Lawrence Dick”

Lawrence A.Dick, Ph.D., P.Geo President, CEO, and Director

CORPORATE INQUIRIES Confederation Minerals Ltd.

Suite 1980, 1075 West Georgia Street Vancouver, B.C.

604.688.9588 [email protected] www.confederationmineralsltd.com

About CFM

Confederation Minerals Ltd. is a British Columbia based company engaged in the business of acquisition, exploration and development of mineral properties. Its objective is to locate and develop economic precious and base metals properties of merit. Confederation Minerals Ltd. owns 70% of the Newman Todd project in the Red Lake Mining District of Northern Ontario, as well as 100% ownership in another property in the Red Lake Mining District of Ontario.

Neither 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 this release.