Private Placement Subscription Received

CANADA

13236 Cliffstone Court

Lake Country BC V4V 2R1

Tel: 250-766-1517

Fax: 250-766-1839

www.sierrairon.com

NEWS RELEASE

December 27, 2017 Symbol:-TSX-V: CLM

Private Placement Subscription Received

Vancouver, BC – Crystal Lake Mining Corporation (the “Company”) is pleased to announce that it has

received all subscription agreements and funds to complete the non -brokered private placement of

1,400,000 units (totaling $700,000) previously announced on December 20 , 2017. Each Unit consists of

one common share issued at $0.5 0 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 $0.50

for 24-months from closing.

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.

Finder’s fees will be payable to qualified recipients.

All securities issued are subj ect to a four -month hold period. This private placement remains subject to

TSX-V approval.

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..