Canadian Critical Minerals Inc. (RIINF)

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Braveheart Resources Inc. Closes Financing

Calgary, Alberta--(Newsfile Corp. - September 1, 2020) - Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) ("Braveheart" or the "Company") is pleased to announce that it has closed a financing for proceeds of $250,000 (the "Offering"). The financing was a combination of $150,000 raised through its financing facility with Alumina Partners (Ontario) Ltd. ("Alumina"), an affiliate of New York based private equity firm Alumina Partners LLC., and $100,000 raised from a non-arms length subscriber.

The Company issued 2,222,222 units at $0.1125 per unit for total proceeds of $250,000. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable into a common share at a price of $0.1875 per share for a period of 60 months from the offering. No commissions were paid in connection with the offering. All securities will be subject to a statutory hold period that expires four months and one day from issuance.

The proceeds from the financing will allow the Company to continue with engineering and permitting activities at its 100% owned Bull River Mine project as well as for general working capital.

Related Party Transaction

In connection with the Offering, an officer of the Company (the "Insider") acquired 888,889 units. The participation of an Insider in the Offering constitutes a "related party transaction", as such terms are defined by Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on an exemption from the formal valuation requirements of MI 61-101 available on the basis of the securities of the Company not being listed on specified markets, including the Toronto Stock Exchange, the New York Stock Exchange, the American Stock Exchange, the NASDAQ or certain overseas stock exchanges. The Company is also relying on the exemption from minority shareholder approval requirements under MI 61-101 as the fair market value of the participation in the Offering by the Insiders does not exceed 25% of the market capitalization of the Company.