Kesselrun Resources Grants Stock Options

Thunder Bay, Ontario--(Newsfile Corp. - January 16, 2020) - Kesselrun Resources Ltd. (TSXV: KES) (OTC Pink: KSSRF) ("Kesselrun" or the "Company") announces the grant of stock options to its directors, officers, and a consultant to purchase an aggregate of 500,000 common shares of the Company. The options are exercisable at a price of $0.05 per share for a period of five (5) years from the date of grant. The options were granted in accordance with the Company's stock option plan, which was approved by the shareholders of the Company at the Annual General Meeting held on December 3, 2019.

Any securities issued pursuant to the exercise of stock options will be subject to a four-month hold period expiring on May 17, 2020, in accordance with securities regulation.

In a separate transaction the Company cancelled 595,000 incentive stock options previously issued to a consultant. The stock options were exercisable at a price of $0.11 per common share and were expiring on May 31, 2021.

About Kesselrun Resources Ltd.

Kesselrun Resources is a Thunder Bay, Ontario-based mineral exploration company focused on growth through property acquisitions and discoveries. Kesselrun's management team possesses strong geological and exploration expertise with particular experience in Northwest Ontario. For more information about Kesselrun Resources, please visit www.kesselrunresources.com.

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 news release.

For additional information please contact:

Kesselrun Resources Ltd.

Michael Thompson, P. Geo., President & CEO

Corporate Communications

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. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Kesselrun, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, dependence upon regulatory approvals, the execution of definitive documentation, the availability of 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.

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