TLG.TO · 2017-05-09 12:00:00

Pitchblack Announces Private Placement

Financings

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE

UNITED STATES

May 9, 2017, Toronto, Ontario – Pitchblack Resources Ltd. (NEX: PIT.H) (“Pitchblack” or the “Company”)

intends to complete a non-brokered private placement financing of up to 571,428 Pitchblack common

shares at a price of $0.35 per share for gross proceeds of up to $200,000.

Closing of the financing is expected to occur on or about May 23, 2017 . Completion of the financing is

subject to a number of conditions including receipt of the approval of the NEX Board of the TSX Venture

Exchange.

Pitchblack intends to use t he proceeds for general corporate purposes and to maintain its mineral

properties in good standing.

About Pitchblack Resources Ltd.

Pitchblack has uranium, coal and gold assets in the Yukon Territory, Canada. The C ompany is currently

reviewing the potential of these properties.

Scott Moore

President and Chief Executive Officer

416-861-5903

Cautionary Note Regarding Forward-looking Information

This press release contains “forward -looking information” within the meaning of applicable Canadian securities

legislation. Forward -looking information includes, but is not limited to, statements regarding the timing of the

offering, the use of proceeds of the offering and the Company’s future plans. Generally, forward-looking information

can be identified by the use of forward -looking terminology such as “plans”, “expects” or “does not expect”, “is

expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or

“believes”, or variations of such words and phrases or state that certain ac tions, events or results “may”, “could”,

“would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and

unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or

achievements of the Company to be materially different from those expressed or implied by such forward -looking

information, including but not limited to: general business, economic, competitive, political and social uncertainties;

the actual results of current exploration activities; future prices of mineral prices; failure of plant, equipment or

processes to operate as anticipated; accidents, labour disputes and shortages and other risks of the mining industry.

Although the Company has attempted to identify important factors that could cause actual results to differ

materially from those contained in forward -looking information, there may be other factors that cause results not to

be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate,

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

readers should not place undue reliance on forward -looking information. The Company does not undertake to

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

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the

United States. The securities 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. Persons un less registered under the U.S. Securities Act and applicable state securities laws

or an exemption from such registration is available.

NEITHER TSX VENTURE EXCHANGE NOR ITS REG ULATION SERVICES PRO VIDER (AS THAT TERM IS DEFINED IN THE

POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS

RELEASE.