Canadian Orebodies announces the results from the first phase of drilling at the North Limb property.

Canadian Orebodies recently completed a seven hole (1,423 metre) diamond drilling program on its Hemlo North Limb Project. Four holes (CORE-2017-01 to 04) were drilled on the Tongue Property while three holes (CORE-2017-05 to 07) were collared to test VTEM Electromagnetic Anomalies identified from the 2016 VTEM MAX Survey flown by the Company.

The Company had a number of objectives to achieve in the exploration of the North Limb of the Hemlo belt and this first half of our phase one drill program has provided much needed geological information that has significantly improved our knowledge of the area. With this information in hand the Company has elected to complete additional ground work prior to finishing the remainder of the drill program and following up on some of these initial targets.

Tongue Property

A high priority target was the Tongue Property which lies directly up-ice from the angular float of mafic volcanic material found to the southwest in 1994 that assayed up to 16.2 gpt Au1, the source of which has never been located. In February of this year, the Company completed a 15 kilometre induced polarization survey on the Tongue Property which outlined 16 anomalies, four of the targets were selected to be tested during the current drill program. The drill holes encountered either 1) disseminated to blebby sulphides (pyrite, pyrrhotite +/- chalcopyrite in mafic volcanics, 2) graphitic interflow sediments or 3) magnetite bearing ultramafics. No significant gold mineralization was encountered.

North Limb Property

The main part of the North Limb Property was flown with an airborne VTEM MAX Survey which identified 12 high priority targets. Due to wet ground conditions during spring break-up only three of the proposed twelve VTEM MAX targets were drill tested. The Company has elected to complete the remainder of the proposed drill holes on the eastern portion of the Property later this year.

Hole CORE 2017-05 tested the VTEM MAX Anomaly that was spatially associated with the recently discovered "Petrant Lake Gold Occurrence" where 2 grab samples yielding 1.64 and 1.74 gpt Au were located. While the hole encountered several narrow zones of semi-massive sulphides (pyrite, pyrrhotite +/- chalcopyrite) no significant gold values were returned from this or the other two VTEM MAX Anomalies tested. This area remains to be more thoroughly investigated.

"Although we did not intersect any significant gold values in the first phase of the North Limb drilling program, the geologic information we gathered is beneficial to improve our future drilling plans. Clearly there is much more ground work to do including prospecting, ground mag, and trenching programs. This field work will further refine our targets for when we complete the remainder of the drill program on the property later this year," said Gordon McKinnon, President and CEO of Canadian Orebodies.