Archon Converts Working Interest to Royalty Interest

Archon Minerals Limited

#2801 – 323 Jervis Street

Vancouver, BC, V6C 3P8

Tel: 604-682-3303

Archon Converts Working Interest to Royalty Interest

June 5, 2017 – Vancouver, British Columbia TSX.V: ACS

Archon Minerals Limited (“Archon” or the “Company”) announces that it has reached an agreement

with its joint venture partner, Dominion Diamond Ekati Corporation (“Dominion”), to convert its working

interest in the Buffer Zone Joint Venture into a 2.3% gross production royalty.

Archon’s board of directors is pleased to have negotiat ed an a rrangement which will allow the

Company to participate in the revenues from the Buffer Zone without having to raise funds for large,

capital-intensive projects currently in development or production. The Company will immediately realize

the benefits of the arrangement with royalties flowing from the Lynx Pipe , which has just begun

commercial production. Without this agreement, and in the absence of contributions by Archon to future

cash calls (mainly for the development of the Jay pipe) , it is unlikely that Archon would have received

any returns until approximately 2025.

Under the royalty arrangement, Archon will receive a gross pr oduction royalty equal to 2.3% of the

gross value of diamonds produced from the Buffer Zone. The Buffer Zone Joint Venture is terminated,

and Archon will not be required to contribute to any future capital expenditures, nor will it have to pay for

any operating costs related to the Buffer Zone.

Archon will still retain 100% of the approximately 200,000 acres of mineral leases which were

formerly part of the western Buffer Zone, as well as interests in other diamond exploration properties in

the area.

ARCHON MINERALS LIMITED

“Stewart Blusson”

Stewart Blusson, President and Director

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.

This news release may contain “forward -looking statements”, which are statements about the future based on current

expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forwar d-looking statements.

Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements

will prove to be accurate or true. Investors should not place undue reliance on forward -looking statements. The Company does

not undertake any obligation to update forward-looking statements except as required by law.