Central Timmins Exploration Corp. Announces

Central Timmins Exploration Corp. Announces

Completion of Share Consolidation

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TORONTO

,

Jan. 14, 2020

/CNW/ -

Central Timmins Exploration Corp

. ("

CTEC

" or the

"

Corporation

") (TSXV: CTEC) announces that today it has received TSX Venture Exchange

approval and has now completed the previously announced consolidation (the "

Share

Consolidation

") of its share capital on the basis of six (6) existing common shares for one (1) new

common share. As a result of the Share Consolidation, the

51,350,000

common shares issued and

outstanding were consolidated to approximately

8,558,333

common shares. The common shares

will start trading on the TSX Venture Exchange on a consolidated basis today,

January 14, 2020

. As

a result of the Share Consolidation, all of the Company's stock options and warrants issued and

outstanding as of today will be adjusted, as applicable, to reflect the Share Consolidation.

The new CUSIP number for the consolidated common shares is 155528201. The stock symbol

remains unchanged as CTEC. Shareholders who hold their common shares through a securities

broker or dealer, bank or trust company, will not be required to take any action with respect to the

Share Consolidation. Letters of transmittal have been mailed to the registered holders of common

shares, requesting that they forward their pre-consolidation common share certificates to the

Company's transfer agent, TSX Trust Company, for exchange for new share certificates

representing their common shares on a post-consolidation basis. No fractional shares will be issued

in connection with the Share Consolidation.

About Central Timmins Exploration Corp.

CTEC is an early-stage Canadian junior exploration company with property primarily within the city

limits of

Timmins

in the Porcupine Mining District in the northeastern region of

Ontario

. The

Corporation's assets are prospective for gold as well as a suite of base metals. See the company

website at

www.centraltimmins.com

.

Forward Looking Information

This press release contains "forward-looking information" within the meaning of applicable

securities laws that is intended to be covered by the safe harbours created by those laws.

"Forward-looking information" includes statements that use forward-looking terminology such as

"may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other

variations thereof or comparable terminology and includes statements relating to, among other

things, the timing of the posting for trading of the post-consolidation Common Shares.

Forward-looking information is not a guarantee of future performance and is based upon a number

of estimates and assumptions of management at the date the statements are made. Furthermore,

such forward-looking information involves a variety of known and unknown risks, uncertainties and

other factors which may cause the actual plans, intentions, activities, results, performance or

achievements of the Corporation to be materially different from any future plans, intentions,

activities, results, performance or achievements expressed or implied by such forward-looking

information. See "Particulars of Matters to be Acted Upon at the Meeting – Share Consolidation –

Risk Factors" in the Information Circular and "Risk Factors" in the Corporation's final prospectus

dated

October 4, 2018

filed on SEDAR at

www.sedar.com

for a discussion of these risks.

CTEC cautions that there can be no assurance that forward-looking information will prove to be

accurate, as actual results and future events could differ materially from those anticipated in such

information. Accordingly, investors should not place undue reliance on forward-looking

information.

Except as required by law, CTEC does not assume any obligation to release publicly any revisions

to forward-looking information contained in this press release to reflect events or circumstances

after the date hereof.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies

of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

SOURCE

Central Timmins Exploration Corp

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For further information:

Central Timmins Exploration Corp.: Charles Gryba, President, CEO &

Director, [email protected], Tel: 416-801-6366; Chris Hopkins, CFO, [email protected], Tel:

416 786 9793

CO: Central Timmins Exploration Corp

CNW 08:30e 14-JAN-20