Western Pacific Closes Asset Purchase Agreement with Green Oil and Concurrent Financing

WESTERN PACIFIC RESOURCES CORP.

Suite 550 - 800 West Pender Street

Vancouver, B.C. V6C 2V6

WESTERN PACIFIC CLOSES ASSET PURCHASE AGREEMENT

WITH GREEN OIL AND CONCURRENT FINANCING

Vancouver, B.C., June 12, 2020 WESTERN PACIFIC RESO URCES CORP. (TSXV:

WRP) (the “ Company ” or “ Western Pacific ”) is pleased to announce that it has closed its

acquisition of certain mineral claims located in Ec uador known as the Julian Property (the

“ Transaction ”) and concurrent private placement of units for gr oss proceeds of $1,500,000 (the

“ Private Placement ”), as disclosed in the Company’s previous news rel eases dated January 28,

2020 and June 9, 2020.

Pursuant to an asset purchase agreement with Green Oil S.A. (“ Green Oil ”), Western Pacific

distributed a total of 6,000,000 common shares in t he capital of the Company (the “ Shares ”) to

Green Oil and its nominees in connection with the T ransaction, subject to completion of

regulatory notices and registrations in the local j urisdiction. The Company also paid a cash

finder’s fee of $94,500 to an arm’s length third pa rty.

The Julian Property is located in the Province of A zuay in the canton of Oña, overlapping the

Parishes Oña Yacuambi and Nabón, approximately 64km southwest of the city of Cuenca and

100km southeast of Machala in the Cordillera Real d e los Andes Ecuador. Additional

information on the Julian Property is provided in the Company’s news release dated June 9, 2020

and in a technical report for the Julian Property w hich is available under the Company’s profile

at www.sedar.com .

The Transaction was a Fundamental Acquisition, as d efined under the policies of the TSX

Venture Exchange (the “ Exchange ”). Pursuant to Exchange policy, Western Pacific’s common

shares were halted pending completion of the Transa ction and will resume trading following the

issuance of the Exchange’s final bulletin in respect of the Transaction.

Concurrent with the closing of the Transaction, Western Pacific completed the Private Placement

of 7,500,000 units (“ Units ”) of Western Pacific at a price of $0.20 per Unit for gross proceeds of

$1,500,000. Each Unit consists of one Share and on e-half of one common share purchase

warrant (a “ Warrant ”) with each whole Warrant being exercisable by the holder to purchase one

additional Share at a price of $0.35 per Share at a ny time within one year of the issuance of the

Warrant. The Company paid fees of $104,670 in cash and issued 523,350 Warrants exercisable

at a price of $0.35 for a period of one year (the “ Finder’s Warrants ”), to eligible finders. The

Shares, Warrants, and Finder’s Warrants distributed in connection with the Private Placement are

subject to a hold period of four months and one day from the date of issuance.

CEO & Board Appointment

On closing of the Transaction, the Company appointe d Luis Zapata to replace Jeffrey Sundar as

the Company’s Chief Executive Officer. Western Paci fic wishes to thank Jeffrey Sundar for his

contributions to the Company. The Company has also appointed Mr. Luis Miguel Espinosa

Chiriboga, nominee of Green Oil S.A., as a director to its board of directors.

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Mr. Luis Zapata is a resources finance professional with over 14 years of experience. Mr. Zapata

was most recently Director, Latin America Instituti onal Equities at Canaccord Genuity where he

launched Canaccord's Latin America Institutional Equities business unit in 2010. Mr. Zapata was

also previously Partner and Head of Capital Markets at Seminario SAB, Peru's largest

independent brokerage firm. Mr. Zapata is a frequen t media commentator on the resource sector

and a dual Canadian/Peruvian citizen fluent in English and Spanish.

Luis Miguel Espinosa Chiriboga is a resource business executive with over 15 year of experience

in extractive industries and project management pri marily in Ecuador. Mr. Espinosa is currently

the President of Green Oil S.A., and as part of his role with Green Oil S.A. is the General

Manager of Hidrotolumbi S.A. an Ecuadorian company in the business of construction and

operation of a hydroelectric project. Mr. Espinosa holds a degree in business administration and

is fluent in Spanish and English.

Western Pacific also announces that the Company has entered into an agreement with Peak

Investor Marketing Corp. (“ Peak ”), subject to the acceptance for filing by the Exc hange, to

assist the Company with marketing strategy and plan ning, corporate communications and public

relations, with the goal of increasing market aware ness of the company. Peak, based in

Vancouver, British Columbia, provides full service marketing and consulting services focused on

the junior mining sector. The initial term of the a greement is for a one-year period subject to

earlier termination by either party. In considerat ion for its services, Peak will be paid a monthly

fee of $12,000 and, subject to the approval of the Exchange, will receive stock options to

purchase up to 200,000 Shares as part of the Compan y’s next option grant. Peak does not

currently hold any securities of the Company.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined

in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy

of this release.

For further information, please contact:

Western Pacific Resources Corp.

Darryl Cardey, Director

604-638-8063

ON BEHALF OF THE BOARD

Cautionary Statement Regarding “Forward-Looking” In formation

Some of the statements contained in this news relea se are forward-looking statements and information w ithin the

meaning of applicable securities laws. Forward-look ing statements and information can be identified by the use of

words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or

statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will ” be taken,

occur or be achieved. Forward-looking statements in this news release include the completion of regula tory notices

and registration in respect of the Company’s intere st in the concessions forming part of the Julian Pr operty.

Forward-looking statements and information are not historical facts and are subject to a number of ris ks and

uncertainties beyond Western Pacific’s control. Act ual results and developments are likely to differ, and may differ

materially, from those expressed or implied by the forward-looking statements contained in this news r elease.

Accordingly, readers should not place undue relianc e on forward-looking statements. Western Pacific un dertakes no

obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.