Mr. Fabio Capponi reports

SEASIF EXPLORATION INC. REVIEWS STRATEGIC ALTERNATIVES FOLLOWING DISCUSSIONS WITH TSX VENTURE EXCHANGE REGARDING POTENTIAL CHANGE OF BUSINESS

Seasif Exploration Inc. has been in discussions with the TSX Venture Exchange regarding a potential change of business (COB) to transition the company into a new line of business without the necessity of a trading halt.

Following these discussions, the TSX-V advised the company that it would not be possible to proceed directly with launching a new business under its current listing and indicated that completing such a change of business would require a transaction structure such as a reverse takeover (RTO) or similar qualifying transaction.

Chief executive officer statement

Fabio Capponi, chief executive officer of the company, stated: "Over the past several months, the company has worked toward a potential change of business intended to reposition the company and create new opportunities for growth and value creation for shareholders. The company approached the exchange with the objective of moving this initiative forward using the existing public vehicle.

"The exchange has advised that the company cannot proceed directly with the change of business under the current proposed structure and that a reverse takeover or similar transaction to acquire an established business would be required to meet TSX-V listing requirements.

"In practical terms, this means additional time, additional cost and further delays before the company can move forward with a new business initiative. We believe it is important for shareholders to understand that the company made a clear effort to move forward with a new business initiative designed to create shareholder value, and that this specific path was not permitted under the exchange's current framework."

There is no guarantee that an RTO or any other type of transaction will occur.

About Seasif Exploration Inc.

The company's common shares are listed on the NEX board of the TSX-V under the symbol SAF.H. Seasif is focused on the acquisition and development of scalable precious metals projects in premier mining jurisdictions. Seasif's wholly owned subsidiary, 5530 Nunavut Inc., which was incorporated under the laws of Nunavut and registered under the Business Corporations Act (Northwest Territories) on Nov. 24, 2016, holds its interest in the Meadowbank project located in Nunavut, Canada.

We seek Safe Harbor.