Plb Signs Definitive Agreement with International GOLD Explorer, Kainantu Resources Limited

PLB CAPITAL CORP.

(TSX-V: PLB.P)

PLB SIGNS DEFINITIVE AGREEMENT WITH INTERNATIONAL GOLD

EXPLORER, KAINANTU RESOURCES LIMITED

Vancouver, B.C. - June 16, 2020 - PLB Capital Corp. (“PLB” or the “Company”), a capital pool company

pursuant to Policy 2.4 of the TSX Venture Exchange (the “TSX -V”), announces that further to its press

release dated April 27, 2020 regarding the signing of a binding letter of intent to acquire Kainantu Resources

Limited (“KRL”), the Company, KRL and the shareholders of KRL have now executed a definitive share

exchange agreement dated June 16, 2020 (the “Transaction”).

As previously announced, pursuant to the Transaction, the Company will issue common shares in the

capital of PLB (“PLB Shares”) to the holders of KRL common shares (“ KRL Shares”) on the basis of one

PLB Share for each KRL Share at a deemed price of $0.15 p er KRL Share. The Transaction is an arm’s

length transaction. There are currently 40,000,000 KRL Shares outstanding. Upon the completion of the

Transaction, it is expected that KRL will become a wholly owned subsidiary of the Company (the “Resulting

Issuer”).

On June 1, 2020, KRL entered into an option agreement with Pacific Energy Consulting Ltd . (“PEC”)

pursuant to which KRL has the sole and exclusive option to acquire two gold tenements (and four priority

applications for tenements) located in the Kainantu region of Papua New Guinea . The gold tenements

consist of mineral claims totaling ~726 km². While highly prospective, these mineral claims are early stage

exploration properties with limited historical exploration. KRL is in the process of preparing a National

Instrument 43 -101 compliant technical report in favor of PLB summarizing the scientific and technical

information regarding these properties, which will be filed on SEDAR prior to completion of the Transaction.

The following sets out the names and backgrounds of all persons who are expected to be the officers and

directors of the Resulting Issuer, with the addition of a CFO to be announced at a later date:

Matthew Salthouse, CEO and Director. Mr. Salthouse has over 25 years of executive experience in the

natural resource sector and has been integral in developing and operating gold mines across Asia Pacific,

including the Didipio and Toka Tindung gold mines. He has successfully originated and executed a range

of capital market and corporate development initiatives, focus ing on commodities and mining in Asia -

Pacific. Mr. Salthouse is the current Commercial/Mining Director for PEC and has previously held senior

executive roles in various public mining ventures , including OceanaGold Corporation (TSX: OGC),

Archipelago Resources plc and REA Holdings plc . Mr. Salthouse holds a B.Ec . and LL.B. from Monash

University.

Marcus Engelbrecht, Chairman and Director. Mr. Engelbrecht is a Canadian born mining executive with

37 years of experience in the industry. He was the CFO for the BHP Diamonds and Specialty Products

group with global responsibilities across six continents. Mr. Engelbrecht later went on to be CFO/Acting

CEO for OceanaGold Corporation (TSX: OGC) and Managing Director of Archipelago Resources plc and

several other listed companies. He has extensive board and corporate experience with a detailed

understanding of how t o operate in developing countries ; having overseen the successful commissioning

of the Toka Tindung gold mine, amongst other projects.

Geoff Lawrence, Director. Mr. Lawrence has over 18 years of executive experience in the managed

services and energy sector, most recently over the last 7 years as the CEO of PEC in Papua New Guinea.

Under the guidance of Mr. Lawrence, PEC has emerged as the lead mid market EPC contractor in Papua

New Guinea, delivering significant projects of national interest, including a newly constructed 45 MW gas

fired power station located in Port Moresby . Mr. Lawrence brings a wealth of knowledge to operating in

PLB CAPITAL CORP.

(TSX-V: PLB.P)

Papua New Guinea, the Pacific Islands , and South East Asia , having amassed an extensive list of key

government and corporate contacts within those areas.

David Loretto, Director. Mr. Loretto is an exploration geologist and entrepreneur, having received a B.Sc

(Hons) in Geological Sciences from Queen’s University and was an exploration team member on the

Brucejack deposit with Pretium Resources Inc. (TSX: PVG). Mr. Loretto currently serves as President and

a director for Kingfisher Resources Ltd., as well as a director for Interlapse Technologies Corp. (TSXV:

INLA) and PLB Capital Corp. (TSXV: PLB.P).

Giuseppe (Pino) Perone, Corporate Secretary. Mr. Perone is a lawyer by background and has extensive

corporate experience that stems from practicing as corporate counsel, as well as serving as an executive

and director, for various public and private compa nies in the resource and technology sectors. Mr. Perone

currently acts as General Counsel and Corporate Secretary of TAG Oil Ltd. (TSX: TAO), as President,

Corporate Secretary and a director of Interlapse Technologies Corp. (TSXV: INLA), as CEO, CFO,

Corporate Secretary and a director of PLB Capital Corp. (TSXV: PLB.P) and as a director of McorpCX, Inc.

(TSXV: MCX). Mr. Perone holds a B.A. from the University of Victoria and an LL.B. from the University of

Alberta and has been a member in good standing of the Law Society of British Columbia since 2006.

The Transaction remains subject to a number of terms and conditions, including, but not limited to, the

completion of the Private Placement, as further defined below, and the approval of the TSX-V.

As noted above, it is a condition of the Transaction that KRL complete a private placement prior to or

concurrently with the Transaction to raise gross proceeds of not less than $1,000,000 and up to $3,000,000

at a price of not less than $0.15 per common share. The Private Placement may be completed in KRL or

the Resulting Issuer or both, as agreed by the parties. KRL intends to use the net proceeds from the Private

Placement to fund the Transaction, to develop its business and for working capital and general corporate

purposes.

This release does not constitute an offer to sell and is not a solicitation of an offer to buy any securities in

the United States. The securities of the Company and KRL have not been and will not be registered under

the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities

laws and may not be offered or sold within the United States or to U.S. Perso ns unless registered under

the U.S. Securities Act and applicable state securities laws unless pursuant to an exemption from such

registration.

Trading in PLB Shares will remain halted pending the satisfaction of all applicable requirements pursuant

to Policy 2.4 of the TSX-V.

For further information, please contact:

Giuseppe (Pino) Perone

CEO

PLB Capital Corp.

Phone: 604.609.3350

E-Mail: [email protected]

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX -

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

Disclaimer and Forward-Looking Information

Statements contained in this release that are not historical facts are forward-looking statements that involve

various risks and uncertainty affecting the business of PLB. In making the forward-looking statements, PLB

has applied certain assumptions that are based on information available, including PLB’s strategic plan for

the near and mid-term. There can be no assurance that such information will prove to be accurate, as actual

PLB CAPITAL CORP.

(TSX-V: PLB.P)

results and future events could differ materially from those anticipated in such statements. Accordingly,

readers should not place undue reliance on forward-looking information. PLB does not undertake to update

any forward-looking information, except in accordance with applicable securities laws.

The TSX -V has in no way passed upon the merits of the Transaction and has neither approved nor

disapproved the contents of this news release.

All information contained in this release relating to KRL was provided by KRL to the Company for inclusion

herein. The Company has not independently verified such information and shall bear no liability for any

misrepresentation contained therein.

Completion of the Transaction is subject to a number of conditions, including but no t limited to, TSX -V

acceptance and if applicable pursuant to TSX -V requirements, majority of the minority shareholder

approval. Where applicable, the Transaction cannot close until the required shareholder approval is

obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement

to be prepared in connection with the Transaction, any information released or received with respect to the

Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a

capital pool company should be considered highly speculative.