Canoe Not Proceeding with Reverse Takeover with OpenPort

OAKVILLE,ON / ACCESSWIRE / January 14, 2019 / Canoe MiningVentures Corp. (TSX VENTURE: CLV) (the "Company")announces that it will not be proceeding with its proposed reverse takeovertransaction with OpenPort Limited previously announced on October 1, 2018 andMarch 20, 2018. The Company's management is actively seeking new businessopportunities and has requested that the TSX Venture Exchange resume trading inthe Company's common shares as soon as practicable.

The Company iscurrently reviewing any and all legal remedies against OpenPort Limited and itsdirectors in regards to the termination of the binding letter of intent regardingthe reverse takeover transaction as well as the default of OpenPort Limited underits services agreement with the Company.

On behalf of the boardof directors of Canoe Mining Ventures Corp.

DuaneParnham,
President and CEO

Neither the TSXV nor its Regulation Services Provider(as that term is defined in the policies of the TSXV) accepts responsibilityfor the adequacy or accuracy of this press release.

Contact:

Duane Parnham
289-837-0101
info@canoemining.ca

SOURCE: Canoe MiningVentures Corp.