Yuntone Capital Corp. (TSX-V: YTC) Announces Proposed Share Consolidation and Private Placement Financing

441 Heales Avenue, Penticton, BC V2A 1G5

Yuntone Capital Corp. (TSX-V: YTC) Announces Proposed Share Consolidation and Private Placement Financing

October 16, 2017. Yuntone Capital Corp. (“Yuntone”) (TSX-V: YTC) announces that it intends to consolidate its issued and outstanding common shares at a ratio of three (3) pre-consolidated shares to one (1) post-consolidation share (the “Consolidation”). The purpose of the Consolidation is to facilitate the Company’s ability to attract future financings, generate greater investor interest and improve trading liquidity.

The Company currently has 3,411,200 common shares issued. Upon completion of the Consolidation, the Company anticipates there will be 1,137,066 common shares issued and outstanding.

In accordance with the Company’s Articles, the Consolidation does not require the approval of the shareholders. The Consolidation is subject to acceptance from the TSX-V.

Non-Brokered Private Placement

Yuntone is also pleased announce that its board of directors have approved a proposed private placement financing of up to 15,000,000 post-Consolidation common shares at $0.05 per share for gross proceeds of $750,000 (the “Offering”).

Subject to TSX Venture Exchange approval, Yuntone may pay finders a fee consisting of cash and warrants from the proceeds of the proposed Offering.

Proceeds of the Offering will be used for identifying business acquisitions as well as for general working capital and corporate purposes.

Closing of the proposed Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange.

On behalf of the Board of Directors, Stuart Wooldridge, Chief Executive Officer and President

For further information please contact:

Yuntone Capital Corp.

441 Heales Avenue Penticton, B.C. V2A 1G5 T: (604) 817-0534

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Yuntone cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Yuntone’s control. Such factors include, among other things: risks and uncertainties relating to Yuntone’s ability to complete the proposed private placement financing, implement its exploration program on the Hat Property, limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Yuntone undertakes no obligation to publicly update or revise forward-looking information.

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.