Voyageur Mineral Explorers Corp. Extends Expiry Date of Warrants

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VOYAGEUR MINERAL EXPLORERS CORP. EXTENDS EXPIRY DATE OF WARRANTS

Toronto, Ontario – September 28, 2020 – Voyageur Mineral Explorers Corp. (“ Voyageur” or

the “Company”) (CSE:YOY) announces that it will extend the expiry date by one year of a total

of 3,584,500 common share purchase warrants (collectively, the “Warrants”) which were issued

pursuant to certain private placements of the Company which closed on December 31, 2018,

October 8, 2019 and October 18, 2019, respectively. The terms of the Warrants are as follows:

Issue Date Number of

Warrants

Exercise Price Original Expiry

Date

New Expiry Date

Dec 31, 2018 84,500 $0.35 pe r share Dec 31, 2020 Dec 31, 2021

Oct 8, 2019 1,675,000 $0.35 pe r share Oct 7, 2020 Oct 7, 2021

Oct 18, 2019 1,825,000 $0.35 pe r share Oct 17, 2020 Oct 17, 2021

All other terms of the Warrants remain the same.

Pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special

Transactions (“MI 61-101”), the extension of the term of the Warrants held by insiders constitute

a “related party transaction”. The transaction is ex empt from the formal valuation and minority

shareholder approval requirements in Sections 5.4 and 5.6 of MI 61-101, respectively, pursuant

to the exemptions in Subsection 5.5(a) and Paragraph 5.7(1)(a) of MI 61-101, respectively, as

neither the fair market value of the subject matter of, nor the fair market value of the

consideration for, the transaction, insofar as it involves interested parties, exceeds 25% of the

Company’s market capitalization. The transaction is also exempt from the formal valuation

requirement in Subsection 5.4 of MI 61-101 pursuant to the exemption in Subsection 5.5(b) of

MI 61-101.

This release is being filed less than 21 days before the effective date of the amendments to the

Warrants. This shorter period is reasonable and necessary in the circumstances as the

Company wishes to carry out the amendments as expeditiously as possible given current

market conditions. Furthermore, the CSE policy requires that amendments to warrant terms

must be completed sufficiently in advance of their expiry date, and the Company is concerned

that delay may preclude the holders of the Warrants expiring in October from enjoying the

benefit of the Warrant extension alongside the other Warrantholders.

About Voyageur Mineral Explorers Corp.

Voyageur is a Canadian junior mineral explorat ion company with a specific focus on mineral

properties in Northwest Manitoba and Northeast Saskatchewan, Canada. All of the Company’s

properties are currently at the exploration stage. The Company has assembled a portfolio of

base metal and precious metal prospects including strategic locations in the Provinces of

Manitoba and Saskatchewan, all of which are 100 percent owned with no option payments or

work commitments to a third party.

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FOR FURTHER INFORMATION PLEASE CONTACT:

Mr. Brian Howlett

President and CEO

Voyageur Mineral Explorers Corp.

Tel: 1-647-227-3035

Email: [email protected]