Squire Announces Resignation of Auditor

VANCOUVER, British Columbia, Nov. 12, 2019 (GLOBE NEWSWIRE) — Squire Mining Ltd. (CSE:SQR | FWB:9SQ | OTCQB:SQRMF) (“Squire”) announces today that its auditor, DeVisser Gray LLP (the “Former Auditor”) has resigned, at the Former Auditor’s own initiative, effective on November 11, 2019. As of the date hereof, Squire has not yet appointed a successor auditor.

The matter is currently under review by Squire’s audit committee and discussions have been ongoing with a potential successor auditor to fill the vacancy as required under National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”).

In accordance with NI 51-102, Squire has delivered a copy of a change of auditor notice (the “Notice”) to the Former Auditor and the Former Auditor has provided its written response confirming that it agrees with the statements set forth in the Notice, which has been filed on SEDAR. As soon as a successor auditor to the Former Auditor has been appointed, Squire will file a further press release confirming such appointment and whether the successor auditor agrees with the statements in the Notice.

The Former Auditor’s reports with respect to Squire’s financial statements for the fiscal years ended December 31, 2018 and October 31, 2017 did not contain a modified opinion and no “reportable event” (as such term is defined in NI 51-102) has occurred during the period covered by such financial statements or the period from December 31, 2018 to the date of the Former Auditor’s resignation.

About Squire Mining Ltd.

Squire is a Canadian based technology company engaged, through its subsidiaries, in the business of developing and operating cloud computing data infrastructure and system technology to support global blockchain applications related to Bitcoin SV, Bitcoin Core and other associated SHA‐256 derived digital assets.

For further information contact:

Matthew Whitcomb

Head of Investor Relations

Telephone: +1 800‐371‐2809

The CSE accepts no responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD‐LOOKING INFORMATION:

This news release includes “forward‐looking information” as defined under applicable Canadian securities legislation. Forward‐looking information and statements include, but are not limited to, disclosure regarding possible events, that are based on assumptions about future economic conditions and courses of action, and, in certain cases, can be identified by the use of words such as “potential”, “propose”, “aim”, “depend”, “seeks”, “plans”, “expects”, “is expected”, “intends”, “anticipates”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “can”, “could”, “should”, “shall”, “would”, “might” or “will”, or the negative forms of any of these words and other similar expressions. Forward‐looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward‐looking information. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, future demand for Bitcoin SV, Bitcoin Core and other digital assets and risks related to the mining thereof, when and if halving of Bitcoin will take place and the impact such halving will have on profitability, the ability to increase block size and the effects of such increases, integration issues, personnel and staffing requirements of Squire, technological change and obsolescence, statements with respect to Squire’s auditor including the anticipated resignation of DeVisser Gray LLP and the engagement and appointment of a successor auditor, the anticipated timing to complete and the Notice and associated materials pursuant to NI 51-102. Actual results and future events could differ materially from those anticipated in such forward looking information. Accordingly, readers should not place undue reliance on forward‐looking information. All forward looking information in this news release is made as of the date hereof and qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. Squire disclaims any intention or obligation to update or revise such forward‐looking information, whether as a result of new information, future events or otherwise, except as required by law.