Crystal Lake Extends Burgundy Ridge Discovery to Depth, Adds Second Drill Rig at Newmont Lake Project

Vancouver, British Columbia--(Newsfile Corp. - August 12, 2019) - Crystal Lake Mining Corporation (TSXV: CLM) (OTC Pink: SIOCF) (FSE: SOG) ("Crystal Lake" or the "Company") is pleased to announce that shallow mineralization encountered in first-ever drilling at Burgundy Ridge last fall (four reverse circulation test holes, see March 7, 2019 news release) has deep roots, extending well beyond a copper-gold enriched limestone body as maiden diamond drilling continues at this new grassroots discovery in Northwest B.C.'s Eskay Camp.

Multiple intrusive phases, breccias, alteration and mineralization styles have been intersected in each of the three holes completed to date. Significantly, the just-completed third hole of the current diamond drilling program at Burgundy Ridge was the deepest hole yet, completed over a length of 441 meters (vertical depth of 320 meters) as intensity of mineralization increased downhole in a hydrothermal breccia.

Highlights:

• All the right indicating mineralization styles and alterations were visible starting from surface, yet beyond 270 meters the alteration in the third hole intensified and was mineralized with varying amounts of blebby pyrite+chalcopyrite+malachite+copper oxides;
  
  
• Beyond 330 meters the hole encountered potassium-enriched hematite-cemented breccias cut by carbonate veins and mineralized with varying amounts of blebby chalcopyrite+pyrite;
  
  
• This third hole was collared 450 meters northwest of last year's RC platforms and drilled toward the southeast. As mineralization appeared to increase in intensity, the hole was extended beyond its planned depth. It proceeded under the ice from about 200 meters and ended in a pyrite zone at a depth of 441 meters.

Drill core is being rushed for assay. Dr. Peter Lightfoot, Crystal Lake Technical Adviser, recently concluded that, "significant and coherent underlying mineralization processes at Burgundy are driven in part by an impressive fluid highway." (see July 16, 2019 news release).

Crystal Lake Mining’s Burgundy Ridge Map of Maiden Diamond Drilling Layouts – August 12, 2019

To view an enhanced version of this graphic, please visit:
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The fourth diamond drill hole at the top of Burgundy Ridge zone has just commenced.

Crystal Lake Targets High-Grade Gold at Northwest Zone

Elsewhere at the 550 sq. km Newmont Lake Project, Crystal Lake has added a second drill rig to target an extension of the historic high-grade Northwest Gold Zone. Hy-Tech Drilling will commence a series of orientated diamond drill holes shortly.

Many areas within and around the historic zone were not sampled by previous operators. Crystal Lake's team was fortunate to recover an extensive amount of historic boxes of core onsite and an ongoing relogging and resampling program has returned very encouraging results, including 28.7 g/t Au and 3.65 g/t Ag over 0.9 m (207.6m to 298.5m) from 2008 drill hole R08-03 (true width unknown at this time). Historically, this hole showed no high-grade assay results and had been interpreted as closing off the zone on the northeast end. Crystal Lake's results demonstrate otherwise.

Recently completed geochemical analysis by Crystal Lake already supports the strong potential for an extension of the high-grade system to the northeast. In addition, initial results from an induced polarization (IP) survey carried out by the Company's geophysics contractor indicate the presence of a chargeability anomaly northeast of the historic zone coincident with the contact between resistive and less resistive lithologies - a prospective area to target new high-grade gold mineralization.

Qualified Person

The technical information in this news release has been reviewed and approved by Mr. Maurizio Napoli, P. Geo., VP Exploration for Crystal Lake Mining, a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.

Quality Assurance/Quality Control

Historic core samples from the Northwest Gold Zone were sent to MSA Labs' preparation facility in Terrace, B.C., where samples were prepared using method PRP-910. Samples were dried, crushed to 2mm, split 250g and pulverized to 85% passing 75 microns. Prepped samples were sent to MSA Labs' analytical facility in Langley, B.C, where they were analyzed for gold using method FAS-221 (fire assay-AAS finish). Gold assays greater than 100 g/t Au were automatically analyzed using FAS-425 (fire assay with a gravimetric finish). Core samples were analyzed for 53 elements using method IMS-230, multi-element ICP-MS 4-acid digestion, ultra-trace level. Silver assay results greater than 100 g/t Ag and cobalt, copper, nickel, lead and zinc greater than 10,000ppm were automatically analyzed by ore grade method ICF-6.

Crystal Lake Mining conducts its own QA/QC program where five standard reference material pulps, five blank reference material samples and two field duplicates are inserted for every 100 samples when analyzing core samples.

About Crystal Lake Mining

Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder value through high-grade discovery opportunities in British Columbia and Ontario. The Company has an option to earn a 100% interest in the Newmont Lake Project, one of the largest land packages among juniors in the broader Eskay Camp in the heart of Northwest B.C.'s prolific Golden Triangle.

On Behalf of the Board of Directors,

CRYSTAL LAKE MINING CORP.

"Richard Savage"
President & CEO
Email: info@crystallakemining.com
www.crystallakemining.com

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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. 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.

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