One World Minerals Inc. Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 23, 2017) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

One World Minerals Inc. (CSE:OWM)(CSE:OWM.CN)(CNSX:OWM) (the "Company") today announces that the previous non-brokered private placement it announced on May 12, 217 will be replaced with a non-brokered private placement of up to 5,000,000 units (the "Units") at a price of $0.30 per Unit for gross proceeds of up to $1,500,000 (the "Offering"). All funds are stated in Canadian dollars.

Each Unit will consist of one common share in the capital of the Company (each, a "Share") and one non-transferable common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one additional Share (each a "Warrant Share"), at a price of $0.50 per Warrant Share for a period of 24 months from the closing of the Offering.

There is no minimum number of Units or minimum aggregate proceeds required to close the Offering and the Company may, at its discretion, elect to close the Offering in one or more closings. Management anticipates that the Company will allocate the net proceeds of the Offering as follows: Rico Litio Property pre-drilling program $465,000; Rico Litio Property drilling program $480,000; regional exploration $150,000 and the balance for working capital.

The Company may pay a finder's fee on the Offering. Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the closing of the Offering in accordance with applicable securities legislation.

The May 12, 2017, non-brokered private placement was a one year unsecured convertible note in the aggregate amount of up to $1,500,000 accruing interest at 18%. The principal amount and any accrued but unpaid interest thereon may have been converted into units at a price of $0.40 per unit. Each unit was to be comprised of one common share in the capital of the Company and one non-transferable common share purchase warrant. Each warrant would have entitled the holder to acquire one additional share, at a price of $0.60 per warrant share for a period of 12 months from the closing of the offering.