CloudBreak Discovery Corp. Options Caribou Property to Norseman Capital Ltd.

Vancouver, British Columbia--(Newsfile Corp. - June 3, 2020) - CloudBreak Discovery Corp. ("CloudBreak" or the "Company") is pleased to an announce that it has entered into an option agreement (the "Option Agreement") with Norseman Capital Ltd. (NEX: NOC.H) ("Norseman") under which Norseman may acquire a 100% interest in certain of CloudBreak's mining claims located in the Skeena Mining Division area in British Columbia (the "Caribou Property"). The entering into of the Option Agreement is subject to receipt of the approval of the TSX Venture Exchange (the "Exchange") by Norseman.

Pursuant to the Option Agreement, in order to fully exercise the option (the "Option"), Norseman shall pay to CloudBreak an aggregate of $80,000 and 2,750,000 common shares of Norseman ("Common Shares") in three installments.

The first installment is composed of $10,000, payable on the effective date (the "Effective Date") of the Option Agreement and 1,000,000 Common Shares issuable within five business days of approval of the Exchange. The second installment is composed of $20,000 and 750,000 Common Shares and is payable on the first anniversary of the Effective Date. The third and final installment is composed of $50,000 and 1,000,000 Common Shares and is payable on the second anniversary of the Effective Date.

In addition, pursuant to the Option Agreement, Norseman shall grant to CloudBreak a 2.0% net smelter return ("NSR") royalty. Norseman shall have the right to acquire one-half of the NSR from CloudBreak at a price of $1,000,000, in which case Norseman shall have the right to acquire the remaining half of the NSR at price of $4,000,000, for an aggregate of $5,000,000.

About CloudBreak Discovery Corp.

CloudBreak Discovery Corp. is focused on creating shareholder value through acquisition and monetization of prospective and underexplored mineral properties both domestically and internationally. The Company acquires undervalued assets both pre discovery and post discovery then works with 3rd party explorers and developers to advance the assets and build shareholder value.

On Behalf of the Board of Directors

Robert Meister
Chief Executive Officer
(604) 351-6647

Forward-Looking Information

Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, and dependence on key personnel. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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