Hornby Bay Mineral Exploration Ltd. entered into a definitive share purchase agreement dated November 30, 2020 with 9396-1217 Quebec Inc. and Frank Guillemette, the principal shareholder of the Vendor, Jonathan Girard and Jean-Francois Girard, pursuant to which the Company will purchase from the Shareholders and the Vendor all of the issued and outstanding common shares in the capital of 9396-1217 Quebec Inc., whose sole asset is 100% of the common shares in the capital of 9220-5392 Quebec Inc. o/a Mines Royales Quebec. MRQ holds an option to acquire a 100% interest in the Philibert property (the "Philibert Property") located in Quebec's Chibougamau mining camp. Following the completion of the Offering, the parties anticipate that the current Board of Directors and management of the Company will resign, with the exception of Mr. Arvin Ramos, CPA, CGA, the Chief Financial Officer of the Company and Mr. Maurice Colson, Chairman of the Company, and it is proposed that the following persons will be appointed. Simon Marcotte, Director, President and Chief Executive Officer. Mr. Marcotte is a director of Freeman Gold Corp.