SOURCE: Stratabound Minerals Corp.

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May 17, 2016 07:00 ET

Stratabound Announces Completion of the Business Combination With Silver Stream Mining Corp.

CALGARY, AB--(Marketwired - May 17, 2016) - Stratabound Minerals Corp. (TSX VENTURE: SB) ("Stratabound" or "the Company") is pleased to announce that it has completed the acquisition of Silver Stream Mining Corp. through a merger of Silver Stream into Stratabound's wholly owned subsidiary, Stratabound Minerals (Nevada) Inc.

Also, Stratabound Minerals Corp. and Bellport Resources Ltd. have completed a shares for debt transaction whereby Bellport has been issued 10,200,000 Stratabound common shares at a deemed price of $0.02 per share in exchange for the extinguishment of the company's debt of $204,000 to Bellport (excluding the $250,000 that was advanced in August 2015). The TSX Venture Exchange has issued its final approval for both transactions on May 16, 2016.

Stratabound has issued 313,392,422 common shares to the Silver Stream Mining Corp. common shareholders as of May 16, 2016. There were 156,696,211 Silver Stream common shares outstanding, and the agreed exchange ratio was 2.0 Stratabound shares for each Silver Stream share. Stratabound shares will continue to trade on the TSX Venture Exchange.

Stratabound has a total of 431,555,033 shares outstanding (481,660,633 shares on a fully diluted basis).

Following completion of the transaction, Stratabound Directors now include Margaret Kent (Chair), Michael Page, Terrence Byberg and R. M. Robb. Peter Calder has been appointed as an advisor to the board, and will stand for election at the Company's Annual General and Special Meeting of shareholders.

The Officers of Stratabound now consist of Terrence Byberg, President and CEO; Richard Meschke, CFO; and Michael Page, Vice President, Exploration.

The Company has been structured as a vehicle to acquire a major "keystone" project. The Company is working with its advisors to evaluate various opportunities.

Stratabound has scheduled an Annual General and Special Meeting of Shareholders for Monday, June 27, 2016 to, among other things, authorize a 6 for 1 share consolidation of Stratabound shares, resulting in 71,925,839 post-consolidation shares outstanding (80,276,772 shares on a fully diluted basis) based on the current outstanding shares of 431,555,033.

President and CEO Terry Byberg commented, "We are extremely pleased to complete the business combination between Stratabound and Silver Steam. The Company has assembled a seasoned team of mining professionals who have worked together on past successful projects, and we have been working diligently to find the right opportunity which will transform Stratabound from an exploration company into a development / operating company."

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.

WARNING: the Company relies upon litigation protection for "forward looking" statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, failure to obtain regulatory or shareholder approval, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

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