Lake Winn Announces Delay in Annual Financial Statements

LAKE WINN RESOURCES CORP.

1111 Melville Street, 11th Floor Vancouver,

British Columbia Canada V6E 3V6

Tel: (604) 689-1799 / Fax: (604) 689-8199

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Lake Winn Announces Delay in Annual Financial Statements

Vancouver, British Columbia – May 4, 2021 – Lake Winn Resources Corp. (TSX-V: LWR, OTC:

EQTXF), (the “Company ” or “Lake Winn ”), announces that its annual financial statements for the

year ended December 31, 2020, including the related management discussion and analysis, and CEO

and CFO certifications (collectively, the “Annual Financial Filings ”) were not filed by the required

filing deadline of April 30, 2021 (the “Filing Deadline”).

The Annual Financial Filings were not filed on or before the Filing Deadline due to unforeseen delays

in the completion of the Company’s audit of the annual financial statements f or the year ended

December 31, 2020. The unforeseen delay was due to the fact that the peri od for which the audited

annual financial statements pertain encompassed a complete reorganization of the Company’s

business and operations. During the period the Company completely restructured operations by

affecting a share consolidation and acquiring two new resource projects. The Company also

successfully completed two refinancing transactions by private placement to finance the Company’s

new operations. Prior to the reorganization occurring during this period, the Company was a shell

company, having essentially no business or operations. Due to these foregoing events the Company

has suffered serious delays in the preparation of the audited annual financial statements.

The Company is working on the steps required to complete the Annual Financial Fi lings and expects

to be able to file the Annual Financial Filings on or before May 17, 2021. The Company will provide

updates as further information relating to the Annual Financial Filings becomes available.

The Company has applied to the applicable securities regulatory authorities and received a

management cease trade order (“MCTO ”) imposed against the Chief Executive Officer and Chief

Financial Officer of the Company precluding them from trading securities of the Company. The MCTO

will be in effect until the Annual Financial Filings are filed, and requires that the Annual Financial

Filings be filed on or before July 2, 2021.

Until the Annual Financial Filings are filed, the Company intends to provide information in accordance

with National Policy 12-203 Management Cease Trade Orders.

Neither the 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

release.

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For further information contact:

Patrick Power

CEO and Director

Lakewinn Resources Corp.

Telephone: (604) 218-8772

Cautionary Statement Regarding “Forward-Looking” Information

Certain statements contained in this press release may constitute forward -looking statements. Such

forward-looking statements are based upon the Company’s reasonable expectations at the date hereof,

which are subject to change depending on economic, political and competitive circumstances and

contingencies. Readers are cautioned that s uch forward looking statements involve known and unknown

risks, uncertainties and other factors that may cause a change in such assumptions and the actual

outcomes and estimates to be materially different from those estimated or anticipated future results,

achievements or position expressed or implied by those forward -looking statements. Risks, uncertainties

and other factors that could cause the Company’s plans or prospects to change include changes or

disruptions in the securities markets; legislative, political or economic developments. The Company

disclaims any intention or obligation to update or revise any forward-looking statements whether as a result

of new information, future events or otherwise.