Chibougamau Independent Mines Inc. (TSX-V:CBG)  (Frankfurt:CLL1) (OTC:CMAUF)  in the US), herein called Chibougamau, wishes to inform shareholders that we have completed a four hole drill program in the area of the C-3 copper/gold zone on our 100% owned Bateman Bay property, located 8 km east of the Town of Chibougamau, Quebec in McKenzie Township.  Hole BJ-20-29 below is the last hole directed toward testing the C-3 zone of this drill program.

Hole BJ-20-29 (azimuth 210 degrees, dip at collar -72 degrees) assayed as follows:

And

The combined zones, including an intermediate 2.94 m low grade zone, averages 2.40% Cu, 5.98 g/t Au, 13.03 g/t Ag and 0.024% Co over a core length of 10.65m. True widths are thought to be fifty percent of intersection widths. 

Hole BJ-20-29 intersected the north-northwestern side of the C-3 copper/gold zone at a vertical depth of 400 metres and approximately 75 metres north-northwest of hole BJ-19-21 which assayed 3.06% Cu, 2.96 g/t Au, 13.04 g/t Ag and 0.023% Co over a core length of 15.68 metres including 4.01% Cu, 4.9 g/t Au, 16.17 g/t Ag and 0.029% Cu over 4.38m and 4.20% Cu, 3.73 g/t Au, 18.63 g/t Ag and 0.031% Cu over 5.90 m also in two higher grade zones (see press release dated August 7, 2019).

An additional hole BJ-19-30 was undertaken to test an induced polarization anomaly north of, and separate from, the C-3 zone and intersected disseminated to massive sulphides with anomalous values but nothing of economic interest.

The initial two drill holes of the current program were reported on February 28^th, 2020 in a press release.  Hole BJ-19-27 intersected two mineralized zones returning the following assays:  2.49% Cu, 4.24 g/t Au, 11.1 g/t Ag and 0.014% Co over a core length of 9.25 m and the second zone returning 4.14% Cu, 0.55 g/t Au, 16.2 g/t Ag and 0.017% Co over a core length of 5.55 m.

Chibougamau Independent is pleased with our drill results to date which have followed the C-3 one down plunge to a vertical depth of approximately 515 metres.  We are currently planning our next drill program which, if undertaken, will most likely be from a barge on Lac aux Dorés.

A north-northwest/south-southeast longitudinal section showing the drill hole pierce points is attached to this press release and is also available on the Chibougamau Mines website.

Assaying:

The NQ core samples were measured, described and sawed in half and one half of each proscribed, then delivered to Expert Laboratories located at 750-A Saguenay Street, Rouyn-Noranda, Quebec for analysis using standard fire assay methods for precious metals and aqua regia digestion and AA analysis for base-metals.

This press release was written by Jack Stoch, Geo., President and CEO of Chibougamau Independent Mines Inc. and Pierre Riopel, Geo., Project Supervisor, in their capacity as a Qualified Persons (Q.P.) under NI 43-101.