Hornby Bay Announces Termination of Letter of Intent with REMY Biosciences

Toronto, Ontario--(Newsfile Corp. - September 14, 2020) - Hornby Bay Mineral Exploration Ltd. (TSXV: HBE) (the "Company") announces that, pursuant to a termination and release agreement dated September 8, 2020 between the Company and REMY Biosciences, Inc. ("REMY"), it has terminated the non-binding letter of intent with REMY as previously announced May 19, 2020, and the transaction contemplated therein will not proceed.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Arvin Ramos, Chief Financial Officer
Tel: (416) 271-3877

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.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

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