ProAm Explorations Corporation — Capital/Financing Update 2020

May 14, 2020

ProAm Ex lorations Cor oration p p

Osec Petroleum Inc. Osec Petroleum Canada Limited

867 West 3[rd] Street, North Vancouver, BC, Canada V7P 1E2 Telephone: 604-988-3306 Facsimile: 604-985-6340

NEWS RELEASE

Vancouver, British Columbia, May 14, 2020 – ProAm Explorations Corporation (“ProAm” or “ the Company ”) (TSX.V:PMX) is pleased to announce a non-brokered private placement raising gross proceeds of up to $200,000 through the issuance of up to 2,857,142 units at a price of $0.07 per unit. Each unit will be comprised of one common share of the Company and one share purchase warrant. Each common share purchase warrant will allow the holder to acquire an additional common share of the Company at a price of $0.15 per share for a period of two years from the date of closing of the nonbrokered private placement (the “warrant”).

In circumstances where, any time after the expiry of the four-month restricted period, the Company’s stock trades at $0.30 or greater for 10 consecutive trading days, the Company may give notice accelerating the expiry date of the exercise period of the warrants to that date which is 30 days from the date of such notice.

Finder’s fees of 8% cash may be paid in connection with the financing.

Proceeds from the private placement will be used for exploration costs including a drill program on the Company’s Jet Property located in Nevada and general administrative and working capital.

ProAm also announces its intent to settle $54,200 of its debt owed to Glenco-MacDonald Holdings Ltd. through the issuance of 774,285 common shares at a price of $0.07 per share. Glenco-MacDonald is controlled by Donald MacDonald, the CEO, President and a Director of the Company.

The private placement and debt settlement are subject to approval of the TSX Venture Exchange.

Due to insider participation in the debt settlement, it is considered a related party transaction within the meaning of Multilateral Instrument 61-101 (“MI 61-101”). The participation is exempt from the need to obtain minority shareholder approval and a formal valuation on the basis that the Company is in serious financial difficulty and the settlements with the interested parties are designed to improve the financial position of the Company; and neither the Company nor, to the knowledge of the Company after reasonable inquiry, the interested parties, have knowledge of any material information concerning the Company or its securities that has not been generally disclosed.

On behalf of the Board of Directors of ProAm Explorations Corporation

Donald L. MacDonald President /Director

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.