Corporate Update

January 16, 2019 at 10:40 AM EST

Tickers: XTSX:CPC
Tags: Mining

January 16, 2019 / TheNewswire / Saskatoon, Saskatchewan - Canadian Platinum Corp. ("CPC", the "Company" or the "Corporation" - TSXV:CPC) announces that pursuant to the Company's Annual General and Special Meeting of Shareholders held on May 31, 2018, and pursuant to the Special Meeting of Shareholders held on November 15, 2018, the shareholders approved, among other things, an amendment to the articles of the Corporation to change the name of the Corporation, and a one for twenty-six (1:26) consolidation of the Corporation's common shares. The Company has submitted all applicable documents to the TSX Venture Exchange (the "TSXV") and the common shares will be posted for trading on a consolidated basis once the TSXV approves the consolidation and name change, which is expected to occur shortly. In accordance with the share consolidation, shareholders of the Company will be entitled to receive one post-consolidation common share of the Company (new share) for every twenty-six pre-consolidation common shares of the Company (old shares) currently held. The Company currently has 241,256,829 common shares issued and outstanding and will have 9,279,109 post-consolidation common shares issued and outstanding.

The Company also announces a name change to "Aurex Energy Corp." concurrently with the share consolidation. It is expected that at the opening of trading after TSXV approval of the consolidation and transaction described below, the trading symbol for the Company will change from "CPC" to "AURX". The new CUSIP number will be 05155D103 and the new ISIN number will be CA05155D1033.

Transaction Update

Further to its news release dated September 5, 2018, the Company has submiited all applicable documentation to the TSXV for approval of the acquisition of 100 per cent of the common shares of a privately held company with substantial natural gas reserves in the Barnett shale, Texas. The Company is currently addressing all TSXV comments on the NI 51-101 Report ("Report") and expects the transaction to close shortly. The Report will be available for review on SEDAR when the transaction closes.

About Canadian Platinum Corp.

Canadian Platinum Corp. is a Canadian-based resource exploration and development company with its head office in Saskatoon, SK. CPC is focused on the acquisition and development of a diversified portfolio of resource properties including precious metals, base metals, platinum group elements and strategic metals including cobalt.

CANADIAN PLATINUM TRADES ON THE TSX VENTURE EXCHANGE UNDER THE SYMBOL "CPC".

For more information, including news releases and technical reports providing more detail on the contents of this news release, please visit our website at www.canplats.ca.

For further information:

Canadian Platinum Corp.

Gary Billingsley, President

Phone: 306-242-7363

Facsimile: 306-992-0729

To receive information by e-mail, visit www.canplats.ca and click "Contact Information".

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.

CAUTION REGARDING FORWARD LOOKING STATEMENTS

Certain statements contained herein constitute forward-looking statements. Such forward-looking statements are subject to both known and unknown risks and uncertainties which may cause the actual results, performances or achievements of the Corporation to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. The forward-looking statements included in this press release are made as of the date of this release and except as required by law, the Corporation does not undertake any obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release may contain statements within the meaning of safe harbour provisions as defined under United States Securities Laws and Regulations. The above statements are based on the current expectations and beliefs of the management of Canadian Platinum and are subject to a number of risks and uncertainties that may cause the actual results to differ materially from those described above.

NOT FOR DISSEMINATION TO U.S. WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES