Senator Minerals Updates on Proposed Acquisition of Carter Lake Uranium Project

Senator Minerals Inc.wishes to clarify the terms of its proposed acquisition of the Carter Lake Uranium Project, located in the south-western corner of the Athabasca Basin, Saskatchewan, announced in its news release of April 24, 2017.

The Company has entered into a letter of intent with Gunnar Minerals Corp. ("Gunnar"), pursuant to which it proposes to acquire a controlling interest in Gunnar in consideration for a cash payment of Cdn$500,000. Gunnar holds the rights to acquire the Carter Lake Uranium Project.

Readers are cautioned that completion of the acquisition remains subject to due diligence and negotiation of definitive documentation. The acquisition cannot be completed until these conditions are satisfied. There can be no assurance that the acquisition will be completed on the terms disclosed or at all. The Company will provide further information concerning the acquisition as soon as it becomes available.