Kirkland Lake, Ontario--(Newsfile Corp. - June 15, 2022) - RJK Explorations Ltd. (TSXV: RJX.A) (OTC Pink: RJKAF) ("RJK" or the "Company") announces that it has issued an additional 4,125,516 units (the "Additional Units") to Great Lakes Nickel Limited ("GLN") following the release to RJK from escrow of $453,806.76 (the "Escrowed Funds") in subscription funds provided by GLN pursuant to the non-brokered private placement that closed on May 20, 2022 (the "Offering"). The Escrowed Funds will be used for general corporate and working capital purposes.

The Additional Units comprise the second and final part of GLN's 5,916,000 Unit subscription, at a price of $0.11 per Unit. Each Unit consisted of one Class A Subordinate Voting Share in the capital of RJK ("Common Share") and one Common Share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Common Share at a price of $0.25 at any time prior to 4:00 p.m. EST on the date that is three years after the issuance of the Warrants. Accordingly, the Warrants comprising the Additional Units will expire on June 15, 2025. The full details of the Offering are available in a news release of the Company dated May 23, 2022.

The Common Shares and Warrants comprising the Additional Units are subject to a statutory hold period ending on October 16, 2022. GLN has undertaken to the TSX Venture Exchange ("TSXV") to not exercise the Warrants held by it if such exercise would cause GLN's ownership of voting shares of the Company to exceed 10% of the Company's issued and outstanding voting shares.

The Offering remains subject to final acceptance by the TSXV.

The securities offered pursuant to the Offering have not been, nor will they be, registered under the United States Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Contact Information
Glenn Kasner, CEO
Mobile: (705) 568-7567
Email: info@rjkexplorations.com

Web Site:

Company Information: Tel: (705) 568-7445

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 release.

Forward Looking Information

This news release includes certain forward-looking statements, which may include, but are not limited to, statements concerning the Offering generally, the proposed use of the proceeds, and the TSXV's final approval of the Offering. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "will", "anticipate", "believe", "plan", "estimate", "expect", "intend", "propose" and similar expressions. With respect to forward-looking statements and information contained herein, we have made numerous assumptions, including assumptions about the receipt of final acceptance by the TSX Venture Exchange and the state of the equity markets. Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed or implied in this news release. Factors that could cause actual results to differ materially from those anticipated in this news release include, but are not limited to, the Company's failure to receive final approval from the TSXV in connection with the Offering. RJK assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements except as required by applicable law.

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