Cleghorn Minerals’ Shareholders Approve Qualifying Transaction and Elect a New Director

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152 Chemin de la Mine École Val-d'Or, QC J9P 7B6

FOR IMMEDIATE RELEASE TSX-V: JZZ.H

CLEGHORN MINERALS’ SHAREHOLDERS APPROVE QUALIFYING TRANSACTION AND ELECT A NEW DIRECTOR

Val-d’Or, Québec – June 26, 2015 – Cleghorn Minerals Ltd. (“Cleghorn”) is pleased to announce that it has received minority shareholder approval of Cleghorn’s proposed acquisition (the “Acquisition”) of a 100% undivided interest in the Meech Lake – Matachewan Prospect located in Ontario, which is intended to serve as Cleghorn’s Qualifying Transaction under the policies of the TSX Venture Exchange.

In addition to approving the Acquisition, shareholders re-elected three incumbent directors, being Joseph Groia, Glenn J. Mullan and Dr. C. Jens Zinke, and elected Andrew Pepper as a director. Andrew Pepper was a nominee of management who will serve as an additional independent director.

Shareholders also reappointed the incumbent auditor, Raymond Chabot Grant Thornton LLP, Chartered Accountants, and approved the adoption and implementation by the Board of Directors of a new 10% rolling stock option incentive plan, which is subject to acceptance by the TSX Venture Exchange and is proposed to be implemented concurrent with closing of the Qualifying Transaction.

The proposed Qualifying Transaction and a concurrent non-brokered private placement financing remain subject to final acceptance by the Exchange. There can be no assurance that the proposed Acquisition and financing will be completed as proposed or at all.

Details of the proposed Acquisition, the Meech Lake – Matachewan Prospect and the new 10% rolling stock option incentive plan are included in the Information Circular prepared by Cleghorn’s management and mailed to shareholders in connection with the annual general and special meeting of shareholders held in Montréal, Québec, on Thursday, June 25, 2015. The Information Circular has been electronically filed with regulators and is available for viewing through the Internet at the SEDAR website (www.sedar.com) under Cleghorn’s issuer profile.

For additional information, please contact:

Glenn Mullan, President, Chief Executive Officer, Secretary and Director Telephone: (819) 824-2808

Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and majority of the minority shareholder approval. The transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

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 news release.

This news release contains certain statements that may be deemed “forward-looking statements”. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Cleghorn believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward- looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Cleghorn’s management on the date the statements are made. Except as required by law, Cleghorn undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

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