Shane Resources Announces Consolidation

Toronto, Ontario--(Newsfile Corp. - June 5, 2020) - Shane Resources Ltd. (the "Company" or "Shane Resources") is reporting the consolidation (the "Consolidation") of the Company's issued and outstanding common shares (the "Common Shares") on the basis of one (new) post-Consolidation Common Share for each forty (old) pre-Consolidation Common Shares. The Consolidation was approved at the Company's annual and special meeting of shareholders held on January 30, 2020. Prior to the Consolidation, the Company had 984,160,910 Common Shares issued and outstanding. As a result of the Consolidation, the Company has approximately 24,603,985 Common Shares issued and outstanding. No fractional post-Consolidation Common Shares shall be issued and the number of post-Consolidation Common Shares issuable to such shareholder shall be rounded down to the next lower whole number.

A letter of transmittal will be mailed to registered shareholders providing instructions to surrender the certificates evidencing Common Shares held in exchange for replacement certificates or Direct Registration Advice representing the number of Common Shares to which they are entitled as a result of the Consolidation. Until surrendered, each certificate representing Common Shares prior to the Consolidation will be deemed for all purposes to represent the number of whole Common Shares to which the holder thereof is entitled as a result of the Consolidation. Shareholders who hold their Common Shares in brokerage accounts or in "street name" are not required to take any action to surrender for exchange Common Shares held.

On behalf of the Board of Directors,

SHANE RESOURCES LTD

Binyomin Posen
CEO, CFO, and Director
T: 416 481-2222 (ext. 246)
E: bposen@plazacapital.ca
804-750 West Pender Street
Vancouver, BC, V6C 2T7

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