Forty Pillars Announces Proposed Share Consolidation and Director Appointment

Source: FortyPillars MiningCorp

November 17, 2023 21:00ET

FORTY PILLARS ANNOUNCES PROPOSED SHARE

CONSOLIDATION AND DIRECTOR APPOINTMENT

Vancouver,B.C., Nov. 17, 2023(GLOBE NEWSWIRE)-- FortyPillars Mining Corp. (CSE:PLLR)

(the “Company” or “Forty Pillars”) announces that its board of directors has approved a

share consolidation (the “Consolidation”) of the common shares in the capital of the

Company at a ratio of three (3) pre-Consolidation common shares for one (1) post-

Consolidation common share(the “Consolidated Shares”).

The proposed Consolidation would result in the number of issued and outstanding

common shares being reducedfrom thecurrent outstanding 14,692,589common shares to

approximately 4,897,529 common shares, subject to rounding. No fractional shares will be

issued as a result of the Consolidation. Any fractional shares resulting from the

Consolidation will be rounded up to the next whole common share, and no cash

consideration will be paid in respect offractional shares.

TheConsolidation remains subject totheapprovaloftheCanadian Securities Exchange(the

“CSE”). The Company will issue a news release upon receiving CSE approval, announcing

the effectivedateof theConsolidation aswell asthenewCUSIP andISINnumbersfor the

Consolidated Shares.The Consolidated Shares will tradeunder theexisting Companyname

and trading symbol. Notwithstanding the foregoing, the Company may, at its discretion,

determine toamend the terms or not tomoveforwardwith theshare consolidation.

Additionally, the Company is pleased to announce that Mr. Dorian Banks has joined the

boardof directors.

Mr. Banks is a lifelong international entrepreneur with focuses on technology, blockchain

and agri-tech. Notably,he has built companies fromthe ground up in wireless technologies,

mobile phone gaming and APPs, largescale plantations, UAV technology,3Dprinting and

crypto-currency mining. He has served asa seniorexecutiveand/or boardmember ofover a

dozen publicly traded companies over the past two decades, arranging nancings from

someof thelargest global banks.

The Company further advises that Christopher Reynolds has resigned as a director of the

Companyand thanksMr. Reynoldsfor his contributions.

AboutFortyPillars

FortyPillarsMining Corp. is a Vancouver,B.C. based mineral exploration companyfocused

on exploring theSilver Dollar Project located in theGreenwoodMining Division, B.C.

FORFURTHERINFORMATIONCONTACT:

Nader Vatanchi

ChiefExecutiveOf cer

e:[email protected]

p:778-881-4631

Neitherthe Canadian Securities Exchange norits Market Regulator(asthetermis dened

in the policies of the Canadian Securities Exchange) accepts responsibility for the

adequacyof accuracy of this news release.

Certain information contained herein constitutes “forward-looking information” under

Canadian securities legislation. Forward-looking information includes, but is notlimited to:

the Company completing the Consolidation; the number of Consolidated Shares; no

fractional sharesbeing issuednorno cash consideration being paid for fractional shares;

the Company issuing a subsequent news release, and the Consolidated Shares trading

under the existing Company name and trading symbol. Generally, forward-looking

information can be identied by the use of forward-looking terminology such as

“anticipates”, “anticipated” “expects” “intends” “will” or variations of such words and

phrases or statements that certain actions, eventsor results“will” occur. Forward-looking

statements are basedon the opinionsandestimates of management asof thedatesuch

statements are made and they are from those expressed or implied by such forward-

looking statements or forward-looking information subject to known and unknown risks,

uncertainties and other factors that may cause the actual results to be materially

different, including receipt of all necessary regulatory approvals. Although management of

the Company have attemptedtoidentify important factorsthatcould cause actual results

todiffermaterially from those contained in forward-looking statementsor forward-looking

information, there may be other factors that cause results not to be as anticipated,

estimated or intended. There can be no assurance that such statements will prove to be

accurate, asactual results andfuture eventscould differ materially from those anticipated

in such statements. Accordingly, readers should not place undue reliance on forward-

looking statements and forward-looking information. The Company will not update any

forward-looking statements or forward-looking information that are incorporated by

reference herein, except as required byapplicable securities laws.