Crystal Lake closes Private Placement

CANADA

13236 Cliffstone Court

Lake Country BC V4V 2R1

Tel: 250-766-1517

Fax: 250-766-1839

www.sierrairon.com

NEWS RELEASE

January 15, 2018 Symbol: -TSX-V: CLM

Crystal Lake closes Private Placement

Vancouver, BC – Crystal Lake Mining Corporation (the “Company ”) Vancouver, BC –

Crystal Lake Mining Corporation (the “Company”) is pleased to announce that it has closed

the private placement previously announcing on December 20, 2017, and has issued a total of

1,400,000 units (“Units”) for gross proceeds of $700,000. Each Unit consists of one common

share issued at $0.50 per share and one common share purchase warrant (a “Warrant”). Each

Warrant may be exercised by the holder to purchase an additional common share at a price of

$0.52 for a period of 24-months from closing. The Company directors/insiders group have

participated to purchase 972,000 units for a total of $472,000.

The proceeds of this private placement will be used to advance exploration activities at the

Company’s Emo, Ontario properties and for general working capital. No finder’s fee is payable

on this transaction. All securities issued are subject to a four-month hold period.

The company has also announced, that pursuant to the Company's stock option plan, it has

granted incentive stock options to its directors, officers, employees and consultants to purchase

an aggregate of 900,000 common shares at an exercise price of $0.60 per share for up to two (2)

years. The company will also pay off a previous debt of up to $100,000 by issuing company shares

at a deemed price of $0.55 cents.

About the Company

Crystal Lake Mining Corporation is a mineral exploration/Development company focused on

creating value through the exploration and development of its British Columbia and Ontario

mineral properties.

On behalf of The Board of Directors of Crystal Lake Mining Corporation.

Alphonse Ruggiero, Director/CFO

This news release contains certain forward looking statements which involve known and unknown risks, delays, and

uncertainties not under the control of Crystal Lake Mining Corporation which may cause actual results, performance or

achievements of Crystal Lake Mining Corporation on to be materially different from the results, performance or

expectation implied by these forward looking statements.

Neither 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 press release, which has been prepared

by management.