Mountain Boy Minerals Closes Flow Through Private Placement of $1,675,800

Each Unit is comprised of one flow through Common Share and one-half of one Common Share Purchase Warrant ("Warrant"). Each Warrant shall be exercisable to acquire one Common Share ("Warrant Share") at a price of $0.60 per Warrant Share for a period of 36 months from the closing of the Offering. The securities issued by the Company in this financing are subject to a statutory 4-month hold period which expires on March 17, 2021.

Flow Through Common Shares issued under the Offering qualify as "flow through shares" ("Flow Through Shares"). The gross proceeds from the Offering will be used for exploration expenditures, including work on the Company's American Creek property located in the Golden Triangle of British Columbia. These expenditures will qualify as "Canadian exploration expenses" as defined in the Income Tax Act which will be renounced to the initial purchasers of the Flow Through Shares. .

A cash finder's fee of $72,000 is paid to the finder.

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 of America. 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 (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available.

On behalf of the Board of Directors:

Lawrence Roulston

President & CEO

For further information, contact:

Nancy Curry

VP Corporate Development
(604) 220-2971

NEITHER 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.

This news release may contain certain "forward looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

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