Distribution of Kintavar Shares to Geomega's Shareholders and Corporate Update

Geomega Resources Inc.

MONTREAL, QUEBEC--(Marketwired - May 1, 2017) - Geomega Resources Inc. ("GéoMégA" or the "Corporation") (TSX VENTURE:GMA) is pleased to announce a return on capital by way of a special distribution of an aggregate of 4,888,003 common shares of Kintavar Exploration Inc. ("Kintavar Shares") or 0.0625 Kintavar Share for every 1 common share of the Corporation held, to the holders of common shares of GéoMégA (the "Distribution"), subject to certain adjustments in case of exercise of the options or the warrants currently outstanding, prior to May 8, 2017. The Kintavar Shares are listed on the TSX Venture Exchange (the "Exchange") under the symbol "KTR". On March 24, 2017, GéoMégA received 17,857,143 Kintavar Shares following the sales of its gold asset portfolio.