RJK Explorations Ltd. Completes Class B Share Consolidation

P.O. Box 546, 4 Al Wende Avenue, Kirkland Lake, ON P2N 3J5 Tel: (705) 567-5351 Fax: (705) 567-5557

RJK Explorations Ltd. Completes Class B Share Consolidation

TORONTO, ONTARIO—(October 21, 2016) – RJK Explorations Ltd. (TSX VENTURE: RJX.A) ("RJK" or the "Company") announces that, in accordance with the special resolution approved by the Company's shareholders on October 3, 2016, it has consolidated the authorized, issued and outstanding Class B multiple voting shares (the "Class B Shares") at a ratio of ten (10) pre-consolidation Class B Shares to one

(1) post-consolidation Class B Share (the "Consolidation Ratio"). As an integral part of the consolidation, the articles of the Corporation were amended to increase the retraction price for the redemption of the whole, or any part of the Class B Shares by a factor of ten (10).

The consolidation of the Class B Shares is in the same proportion and in the same manner as the Class A subordinate voting shares, which were consolidated at the Consolidation Ratio on July 22, 2016. The Class B Shares are not traded on the TSXV.

Prior to the consolidation of the Class B Shares, the Company had 854,140 Class B Shares authorized, issued and outstanding. After giving effect to the consolidation of the Class B Shares, the Company has 85,414 Class B Shares authorized, issued and outstanding.

Neither the 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.

For further information, please contact:

Glenn Kasner, President Telephone: (705) 567-5351 Mobile: (705) 568-7567 [email protected]

Web Site: http://www.rjkexplorations.com

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