Pistol Bay Corrects Typographical Error in the Consolidated Financial Statements

Vancouver, B.C. – TheNewswire – October 09, 2020: Pistol Bay Mining Inc. (TSXV:PST) (Frankfurt – OQS2) OTC/Pink Sheet symbol (OTC:SLTFF) ("Pistol Bay" or the "Company") has refiled its Consolidated Financial Statements for the years ended May 31, 2020 and 2019 which were filed on SEDAR on September 28, 2020 to correct a typographical error on the Consolidated Statement of Financial Position.

The deficit amount in the Consolidated Statement of Financial Position for the year ended May 31, 2020, was incorrectly read as $24,830,475 when it should have read $24,863,809 which resulted in a mismatch in the statement total by $33,334. The deficit amount and the total of the Consolidated Statement of Financial Position is changed to reflect the correct numbers. Other than this change in the deficit, there were no other changes made to the Condensed Financial Statements.

The Company’s corrected Consolidated Financial Statements for the years ended May 31, 2020 and 2019 have been filed on SEDAR and are available at www.sedar.com.

About Pistol Bay Mining Inc.

Pistol Bay Mining Inc. is a diversified Junior Canadian Mineral Exploration Company with a focus on zinc and base metal properties in North America. The company is also actively pursuing the right opportunity in other resources to enhance shareholders value. For additional information please visit the Company website at www.pistolbaymininginc.com or contact Charles Desjardins at pistolbaymining@gmail.com.

On Behalf of the Board of Directors

PISTOL BAY MINING INC.

Charles Desjardins,

President and Director

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.

Forward Looking Statements:

Statements included in this announcement, including statements concerning of the Company’s plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.

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