Canoe Not Proceeding with Reverse Takeover with OpenPort

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Canoe Mining Ventures Corp.

277 Lakeshore Road East, Suite 403, Oakville, Ontario L6J 6J3

T: 289 837 0101 F: 289 837 1166

www.CanoeMining.CA

Canoe Not Proceeding with

Reverse Takeover with OpenPort

OAKVILLE, ONTARIO (January 14, 2019) - Canoe Mining Ventures Corp. (TSX VENTURE:

CLV) (the “Company”) announces that it will not be proceeding with its proposed reverse

takeover transaction with OpenPort Limited previously announced on October 1, 2018 and March

20, 2018. The Company’s management is actively seeking new business opportunities and has

requested that the TSX Venture Exchange resume trading in the Company’s common shares as

soon as practicable.

The Company is currently reviewing any and all legal remedies against OpenPort Limited and its

directors in regards to the termination of the binding letter of intent regarding the reverse takeover

transaction as well as the default of OpenPort Limited under its services agreement with the

Company.

On behalf of the board of directors of Canoe Mining Ventures Corp.

Duane Parnham,

President and CEO

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of

the TSXV) accepts responsibility for the adequacy or accuracy of this press release.