Project One Finalizes Shares For Debt Transaction

Project One Resources Ltd #1710, 1177 West Hastings Street Vancouver, BC, Canada, V4E 3L6

June 10, 2020

Project One Resources Finalizes Shares for Debt Transaction

Project One Resources (PJO.CSE) (the “Company”) wishes to report that The Canadian Securities Exchange (CSE) has accepted for filing the company's proposal to issue 308,593 common shares to two creditors at a deemed value of 16 cents per share to settle outstanding debt for $49,375.00. The shares have now been issued and have a hold period to October 3, 2020.

For further information please contact Ron Shenton, CEO 604-825-2995 www.P1R.ca

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT’S RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Forward-Looking Information

This news release includes certain information that may be deemed "forward-looking information" under applicable securities laws. All statements in this release, other than statements of historical facts, that address acquisition of the Property and future work thereon, mineral resource and reserve potential, exploration activities and events or developments that the Company expects is forward-looking information. Although the Company believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information. These include the results of the Company's due diligence investigations, market prices, exploration successes, continued availability of capital financing, and general economic, market or business conditions, and those additionally described in the Company's filings with the Canadian securities authorities.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking information. For more information on the Company, investors are encouraged to review the Company's public filings at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.