Cleghorn Minerals Ltd. Terminates Mineral Claim Purchase Agreement and Proposed Qualifying Transaction

152 Chemin de la Mine École Val-d’Or, Québec J9P 7B6

FOR IMMEDIATE RELEASE TSX-V: JZZ.H

CLEGHORN MINERALS LTD. TERMINATES MINERAL CLAIM PURCHASE AGREEMENT AND PROPOSED QUALIFYING TRANSACTION

Val-d’Or, Québec – May 2, 2013 – Cleghorn Minerals Ltd. (“Cleghorn”) announces (further to its prior news releases of October 15, 2012 and February 7, 2013) that it has terminated the Purchase Agreement with Globex Mining Enterprises Inc. dated October 9, 2012, as amended January 31, 2013, pursuant to which it was proposed that Cleghorn would acquire a 100% undivided interest in the Hematite Lake Property located in Labrador, Québec. The Purchase Agreement was terminated in accordance with its terms, as Cleghorn has been unable to complete the associated private placement financing, which was a condition precedent to completing the proposed acquisition.

The $25,000 non-refundable deposit paid by Cleghorn to Globex, plus an additional $25,000 paid by Cleghorn to Globex as consideration for amending the Purchase Agreement to extend the period of time for completion of the proposed acquisition, has been forfeited by Cleghorn, and Cleghorn has also agreed to reimburse Globex for the cost of an airborne survey completed on the Hematite Lake Property.

Cleghorn will endeavour to identify and evaluate businesses or assets with a view to completing a Qualifying Transaction as soon as practical.

For additional information, please contact:

Glenn Mullan, President, Chief Executive Officer, Secretary and Director Telephone: (819) 824-2808

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.

This news release contains certain statements that may be deemed “forward-looking statements”. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Cleghorn believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Cleghorn’s management on the date the statements are made. Except as required by law, Cleghorn undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.