Update on the Distribution of Kintavar Shares to Géoméga's Shareholders

Geomega Resources Inc.

MONTREAL, QUEBEC--(Marketwired - May 7, 2017) - Geomega Resources Inc. ("GéoMégA" or the "Corporation") (TSX VENTURE:GMA) wishes to inform its shareholders that due to additional regulatory requirement that were brought to the Corporation's attention, the distribution (the "Distribution") of the common shares of Kintavar Exploration Inc. to the shareholders of GéoMégA announced in the May 1, 2017 press release must be postponed until the next annual and special shareholders' meeting of the Corporation in order to meet the statutory requirements which provide for a shareholders' approval for a distribution in the form of return of capital.