Closing Of Debt Settlement

Eskay Mining Corp. (“Eskay” or the “Company”) wishes to announce that,
further to the press release issued February 17, 2016, it has settled
$160,000 of management fees owed to a company controlled by an insider of
the Company in consideration for the issuance of 1,855,072 common shares of
the Company The securities issued are legended and restricted from trading
until July 4, 2016.

The insider debt settlement is exempt from the valuation and minority
shareholder approval requirements of Multilateral Instrument 61-101 (“MI
61-101”) by virtue of the exemptions contained in sections 5.5(a) and
5.7(1)(a) of MI 61-101 in that the fair market value of the consideration
for the securities of the Company to be issued to insider does not exceed
25% of its market capitalization.

About Eskay Mining Corp:

Eskay Mining Corp (TSX VENTURE:ESK) is a TSX Venture Exchange listed
company, headquartered in Toronto, Ontario. Eskay is an exploration company
focused on the exploration and development of precious and base metals in
British Columbia in a highly prolific, poly metallic area known as the
Eskay Rift Belt located in the “Golden Triangle”, 70km northwest of
Stewart, BC. The Company currently holds mineral tenures in this area
comprised of 177 claims (130,000 acres).

All material information on the Company may be found on its website at
www.eskaymining.com and on SEDAR at www.sedar.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 release.

Eskay Mining Corp.

TSX Venture closing price for ESK-V
Date: 2016/03/03
Closing Price: 0.11