13236 Cliffstone Court
CANADA
13236 Cliffstone Court
Tel: 250-766-1517
Fax: 250-766-1839
www.crystallakeminingcorp.com
Vancouver, British Columbia March 29, 2019 – Crystal Lake Mining Corporation (the “Company”
or “Crystal Lake”) is pleased to announce that the Company h as closed a second tranche of its recently
announced hard dollar (“Unit Private Placement” ) and flow-through (“FT Private Placement”) non-
brokered private placements, raising additional gross proceeds of $2,386,287.
Total gross proceeds raised to date are now $4,296,187 ($3,896,187 for the Unit Private Placement at 22.5
cents per unit and $400,000 for the FT Private Placement at 32 cents per share). A limited third and final
tranche for up to approximately $200,000 in hard dollar un its is expected to close during the next several
days.
The Company also wishes to announce an increase in the Unit Private Placement to raise up to an
aggregate total of $4,096,187 through the issuance of up to 18,205,276 units at $0.225 per unit.
Unit Private Placement – Second Tranche
Crystal Lake issued 7,716,831 units at 22.5 cents pe r unit in this second tranche with each unit consisting
of one common share in the capital of the Compan y and one share purchase warrant. Each warrant
entitles the holder to purchase one share of the Company for a period of 24 months from the closing of the
offering at an exercise price of 35 cents per share.
The warrants issued in the Unit Priv ate Placement are subject to an acceleration provision that states in
the event the closing price of the Company’s shares on the TSX Venture Exchange (TSXV), or such other
exchange on which the Company’s shares may become traded, is $0.75 (CDN) or greater per share during
any fifteen (15) consecutive trading day period at an y time subsequent to four months and one day after
the closing date, the warrants will expire at 4:00 p.m. (Vancouver time) on the 30th day after the date on
which the Company provides notice of such accelerated expiry to the holders of the warrants.
FT Private Placement
As part of this second tranche, Crystal Lake ha s issued 1,250,000 flow-through common shares at 32
cents per share for gross proceeds of $400,000 (no warrants).
Use of Proceeds
The above private placements are subject to the appr oval of the TSXV. Finders' fees for this second
tranche may be payable to qualified parties, and the s ecurities issued in this second tranche will be subject
to a four-month hold period from the closing date.
Proceeds from the Unit Private Pla cement will be for general worki ng capital purposes and to complete
the first phase of Crystal Lake’s 2019 drilling and exploration program (at least $3 million) at the
NEWS RELEASE
Crystal Lake Closes Second Tranche of
Non-Brokered Private Placement and Increases Financing
CANADA
13236 Cliffstone Court
Tel: 250-766-1517
Fax: 250-766-1839
www.crystallakeminingcorp.com
Newmont Lake Project in the Eskay region, starting during the upcoming quarter. Crystal Lake has an
option over three years to earn a 100% interest in the project from Romios Gold (TSXV: RG).
Proceeds from the FT Private Placement will be for e xploration expenditures at the Company’s Newmont
Lake and Nicobat projects in Northwest B.C. and Northwest Ontario, respectively.
Crystal Lake-Romios Option Agreement
Further to its news release of March 22, 2019, Crystal Lake has provided confirmation to Romios that it has
funding in place to finance its commitment to spend at least $3 million on an agreed exploration program at the
Newmont Lake Project during the first year of the option agreement. Crystal Lake has also accelerated the
cash payment portion to Romios by advancing $750,000 to date ($500,000 March 29) with only one final
payment of $250,000 due within 90 days.
About Crystal Lake Mining
Crystal Lake Mining is a Canadian-based junior exploration company focused on creating shareholder wealth
through high-impact new mineral discoveries in the prolific Eskay region of Northwest British Columbia and
in Northwest Ontario.
For further information please contact:
MarketSmart Communications Inc.
Tel: +1 (604) 261-4466
Toll free: 1-877- 261-4466
Email: [email protected]
On behalf of The Board of Directors of Crystal Lake Mining Corporation,
Richard Savage, President & CEO
This news release may contain certain “forward looking statements”. Forward-looking statements involve known and unknown risks, uncertainties,
assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future
results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of
this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-
looking statement, whether as a result of new information, future events or results or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture E xchange) accepts
responsibility for the adequacy or accuracy of this release.