TORONTO, September 28, 2017 – Canadian Orebodies Inc. (the “Company”) (TSXV:CORE) is pleased to announce the final batch of core assays from its summer drill campaign at the Wire Lake Project. The program consisted of twenty-two holes (WL-2017-001 to 009, 009A, and 010 to 021) totaling 3,069 metres.

Complete assay results have now been received from the final seven holes, which were drilled along the Wire Lake Gold Zone (WL-2017-015 to WL-2017-021). Highlights from these results include: 1.1 gpt Au over 31.7 metres including 1.6 gpt Au over 5.4 metres and 2.0 gpt Au over 5.8 metres in WL-2017-021; and 1.4 gpt Au over 18.0 metres in WL-2017-020.

From

To

Interval

Au (g/t)

Au (g/t)

Hole

(m)

(m)

(m)

uncut

cut to 31.1 g/t

WL-2017-015

3.9

16.6

12.7

1.1

-

and

19.5

20.5

1.0

0.5

-

and

25.2

26.2

1.0

0.7

-

and

27.8

38.7

10.9

0.8

-

and

74.1

74.9

0.8

0.8

-

WL-2017-016

6.4

8.5

2.1

0.8

-

and

10.5

15.0

4.5

1.3

-

and

22.0

36.0

14.0

1.1

-

and

44.1

44.9

0.8

1.2

-

and

48.7

56.0

7.3

0.9

-

and

59.4

60.0

0.6

1.9

-

and

61.9

64.7

2.8

0.8

-

WL-2017-017

150.0

152.0

2.0

0.8

-

and

168.6

172.9

4.3

0.8

-

and

243.3

252.5

9.2

0.5

-

and

266.5

270.5

4.0

0.6

-

WL-2017-018

15.1

21.5

6.4

1.2

-

and

26.0

27.0

1.0

1.3

-

and

28.5

29.1

0.6

1.3

-

WL-2017-019

22.1

27.5

5.4

1.5

-

and

33.4

46.2

12.8

1.3

-

and

56.9

59.9

3.0

1.8

-

and

87.0

89.0

2.0

0.8

-

WL-2017-020

51.0

69.0

18.0

1.4

-

WL-2017-021

67.3

99.0

31.7

1.1

-

incl.

68.3

73.7

5.4

1.6

-

incl.

93.2

99

5.8

2.0

-

*True widths can not be estimated at this time

A plan map of the drill hole locations is available at:

https://canadianorebodies.com/site/assets/files/2011/wire_lake_drill_plan2017.pdf

A long section of the Candlestick-North Hill Zone is available at:

https://canadianorebodies.com/site/assets/files/2011/wire_lake_ls1c_sep27_2017.jpg

“We are pleased to report the final drill results from Wire Lake which further demonstrates how expansive this gold system is. Each of these last seven holes contained significant near surface gold values over a great strike length,” said Gordon McKinnon, President and CEO of Canadian Orebodies. “The Company remains very active at Wire Lake and the adjacent Black Raven property, undertaking regional prospecting, mapping and sampling programs which will continue until the field season ends. We look forward to reporting on those results when received as the combined property covers over 180 square kilometres and has seen very limited exploration outside of the Wire Lake Gold Zone.”

Wire Lake Drill Results

Drill hole WL-2017-015 was drilled on the South Lake Zone and was collared near hole 88-02 which encountered a broad zone of gold mineralization between 5.5 and 66.6 metres. Within this interval historic assay results included 1.2 gpt Au over 4.75 metres, 0.7 gpt Au over 23.9 metres, as well as 1.4 gpt Au over 14.2 metres1. WL-2017-15 intersected the gold zone between 3.9 and 38.7 metres. Host rocks consisted predominantly of moderate to biotite altered and silicified mafic volcanics, containing centimetre to decametre scale quartz stringers and veinlets (~20% of unit) and having 3-5% pyrite-pyrrhotite (locally up to 10%) as disseminations and blebs. Assay results included: 1.1 gpt Au over 12.7 metres (3.9 to 16.6 metres) and 0.8 gpt Au over 10.9 metres (27.8 to 38.7 metres).

Hole WL-2017-016 was drilled from the same setup at WL-2017-015 at -85 degrees and at an azimuth of 284 degrees. Altered, gold bearing lithologies were observed intermittently between 6.0 and 64.7 metres. Host lithologies primarily consisted of altered mafic volcanics with minor felsic and mafic dykes. The mafic volcanics were fine to medium grained, massive to well foliated, having patchy intervals of moderate biotite and silica alteration. Sparse quartz stingers were noted usually associated with 1-2% fine-coarse grained pyrrhotite-pyrite. Results included: 1.3 gpt Au over 4.5 metres (10.5 to 15.0 metres), 1.1 gpt Au over 14.0 metres (22.0 to 36.0 metres), as well as 0.8 gpt Au over 7.3 metres (48.7 to 56.0 metres) and 0.8 gpt Au over 2.8 metres (61.9 to 64.7 metres).

WL-2017-017 was collared at the south end of the South Lake Zone where the gold zone was interpreted to have been cut off or displaced by a fault. The hole was collared at -45 degrees and drilled due east until it intersected a significant north-south trending felsic dyke. The hole encountered two zones of low grade gold mineralization: the first was between 150 to 172.9 metres while the second was encountered between 243.3 to 270.5 metres. The upper gold zone was hosted within moderately sheared mafic volcanics with local fault gouge. Rare quartz carbonate veinlets were noted. Up to 3% pyrite occurs as disseminations or within fractures and stringers. While anomalous gold values were returned throughout the zone, the best assay result was 0.8 gpt Au over 4.3 metres (168.6 to 172.9 metres). The lower gold zone was more similar in appearance to that observed in the other holes. Host lithologies displayed the typical moderate to strong biotite alteration with local quartz veinlets and related silicification. Two low-grade intercepts of 0.5 gpt Au over 9.2 metres between (243.3 and 252.5 metres) and 0.6 gpt Au over 4.0 metres between (266.5 and 270.5 metres). The felsic dyke was encountered at 274.8 metres.

Diamond drill holes WL-2017-018 and 019 were drilled from the same setup at dips of -45 and -85 respectively and at an azimuth of 250 degrees. They were drilled to fill a gap between the recent drilling on the North Hill Zone and historic drilling on the Candlestick Zone. Hole WL-2017-018 encountered a narrow zone of silicified and sulphide (3-5% pyrite-pyrrhotite) bearing mafic volcanics which assayed 1.2 gpt Au over 6.4 metres between (15.1 and 21.5 metres). The zone contained abundant quartz stringers and was strongly sheared. In hole WL 2017-019 the zone of mineralization/alteration was considerably more extensive being observed between 22.1 and 59.9 metres. Within this broader zone several post mineralized mafic dykes were intersected most notably between 29.9 and 35.2 metres, 47.3 and 50.3 metres, as well as between 52.0 54.9 metres. The altered mafic volcanics exhibited moderate to strong biotite +/- chlorite alteration, with local sections of quartz-carbonate stringers/veins. Sulphide content (pyrite-pyrrhotite) averaged 1% but locally up to 5% around quartz veins. Assay results returned 1.5 gpt Au over 5.4 metres (22.1 to 27.5 metres), 1.3 gpt Au over 12.8 metres (33.5 to 46.2 metres and 1.8 gpt Au over 3.0 metres (56.9 to 59.0 metres).

Diamond drill holes WL-2017-020 and 021 were also drilled from the same setup at dips of -45 and -85 respectively and at an azimuth of 250 degrees. They were collared to further test the North Hill Zone, in particular in an area around previously reported holes WL-2017-001 to 004 which returned results including: 2.6 gpt Au over 18.7 metres (2.0 gpt Au cut to 31.1 gpt) including a 0.5 metre section containing several small specks of visible gold which assayed 57.1 gpt Au in WL-2017-001; and 1.4 gpt Au over 13.0 metres and 0.8 gpt Au over 28.0 metres (including 1.6 gpt Au over 10.6 metres) in WL-2017-002 (see press release August 21, 2017). From 51.0 metres to 69.0 metres (18.0 metres) hole WL-2017-020 returned 1.4 gpt Au. Host rocks consisted predominantly silicified mafic volcanics exhibiting moderate to strong biotite alteration within more foliated sections and weak to moderate biotite alteration in more massive sections. Abundant centimetre to decameter scale quartz veins and veinlets were noted. Sulphide content ranged from trace to locally 3% pyrite-pyrrhotite. In hole WL-2017-021 the altered gold bearing unit was observed between 67.3 and 99.0 metres (31.7 metres) which graded 1.1 gpt Au. Biotite +/- chlorite alteration was commonly observed, associated with sparse centimetre to decameter quartz veinlets and veins. Sulphide content was generally less than 2% as fine disseminations of pyrite and pyrrhotite. Between 73.7 and 79.45 a post mineral biotitic intrusive was encountered.

Table of Drill Collar Locations

HOLE ID

EASTING

NORTHING

ELEV

AZIMUTH

DIP

DEPTH

ZONE

WL-2017-001

557034

5406510

406

251

-45

51

North Hill - Twin 89-15

WL-2017-002

557034

5406510

406

0

-90

90

North Hill

WL-2017-003

557017

5406713

385

250

-45

60

North Hill Ext

WL-2017-004

557017

5406713

385

0

-90

87

North Hill Ext

WL-2017-005

557056

5406421

440

250

-45

81

North Hill

WL-2017-006

557056

5406421

440

250

-80

84

North Hill

WL-2017-007

557109

5406520

436

295

-45

197

North Hill

WL-2017-008

557109

5406520

436

0

-90

256

North Hill

WL-2017-009*

557257

5406268

455

250

-75

45

Candlestick

WL-2017-009A

557257

5406268

455

250

-75

300

Candlestick

WL-2017-010

557145

5405959

415

70

-50

207

Lucky Seven

WL-2017-011

557207

5405801

401

72

-46

210

Lucky Seven - Twin 89-07

WL-2017-012

556949

5405196

342

260

-60

204

West Zone

WL-2017-013

557656

5405002

339

250

-45

181.5

North Wire

WL-2017-014

557590

5405623

405

250

-45

102

New Zone

WL-2017-015

557647

5404705

348

284

-44

81

South Lake Zone - Near 88-02

WL-2017-016

557647

5404705

348

284

-85

97.5

South Lake Zone

WL-2017-017

557602

5404640

359

90

-45

291

South Lake Zone

WL-2017-018

557072

5406345

425

250

-45

81

North Hill Candlestick

WL-2017-019

557072

5406345

425

250

-85

120

North Hill Candlestick

WL-2017-020

557083

5406452

435

250

-45

102

North Hill

WL-2017-021

557083

5406452

435

250

-85

141

North Hill

*Hole WL-2017-009 had to be abandoned and was re-drilled as WL-2017-009A

Technical Information

Canadian Orebodies has implemented a quality-control program to comply with best practices in the collection and analysis of rock samples. Samples were transported in security-sealed bags to Activation Laboratories Ltd. in Thunder Bay, ON for preparation and assay.

1 Readers are cautioned that these assay results are historical in nature and have not been verified by a qualified person on behalf of the company.

Qualified Person

This press release has been prepared under the supervision of Mr. Bruce Mackie (P.Geo.), who is a consultant to the Company and a “qualified person” (as such term is defined in National Instrument 43-101). Mr. Mackie has verified the technical data disclosed in this press release.

About Canadian Orebodies Inc.

Canadian Orebodies is a Canadian-based mineral exploration company with a portfolio of properties in Ontario and Nunavut. Canadian Orebodies is focused on generating shareholder value through the advancement of its two Hemlo area properties: Wire Lake and the North Limb.

For more information please contact:

Gordon McKinnon, President & CEO

Canadian Orebodies Inc.

(416) 644-1747

http://www.canadianorebodies.com

Forward-Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, including, but not limited to, exploration results, potential mineralization, statements relating to mineral resources, and the Company’s plans with respect to the exploration and development of its properties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Canadian Orebodies, including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates, currency fluctuations, dependency upon regulatory approvals, the uncertainty of obtaining additional financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

© 2017 Canadian Orebodies Inc.
All rights reserved.
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