Glacier Lake Clarifies Terms of Private Placement

Vancouver, British Columbia – December 20, 2017 – Glacier Lake Resources Inc. TSXV: GLI – (the “Company”) would like to clarify the terms of the private placement announced on December 18, 2017. The Company intends to conduct a non-brokered private placement for gross proceeds of up to $650,000 through the issuance of non-flow-through units (the “Non-Flow-Through Units”) at a price of $0.06 per Non-Flow-Through Unit, and flow-through units (the “Flow-Through Units”) at a price of $0.08 per Flow-Through Unit. Each Non-Flow-Through Unit will consist of one common share of the Company and one common share purchase warrant entitling the holder to purchase one additional share at a price of $0.10 for a period of twenty-four (24) months. Each Flow-Through Unit is comprised of one common share and one common share purchase warrant entitling the holder to purchase one additional share at a price of $0.15 for a period of twenty-four (24) months.

The Company anticipates utilizing the proceeds of the private placement for a planned drill program on its Silver Vista project located near Smithers, British Columbia, and for general working capital purposes. In connection with the private placement, the Company may pay finder’s fees to eligible persons introducing subscribers to the Company. All securities issued in connection with the private placement will be subject to a four-month-and-one-day statutory hold period. Closing of the private placement remains subject to final approval of the TSX Venture Exchange.

On behalf of the Board of Directors GLACIER LAKE RESOURCES INC.

Saf Dhillon President, Chief Executive Officer, Director

FOR ADDITIONAL INFORMATION PLEASE CONTACT:

Saf Dhillon President/CEO Glacier Lake Resources Inc.

Tel: 866-687-7059 Dir: 604-688-2922 [email protected]

Please visit our Website at: www.glacierlake.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Suite 2000, Oceanic Plaza, 1066 West Hastings Street, Vancouver, British Columbia, V6E 3X1 O: 604-688-2922 TF: 866-687-7059 www.glacierlake.ca