WINKF - Windfall Geotek Announces Binding Letter of Intent with Vancouver Based Group for Chapais Property

(TheNewswire)

DOES NOT CONSTITUTE AN OFFEROF THE SECURITIES DESCRIBED HEREIN

Highlights:

• - Vancouver based investment group was selected after receivingmultiple expressions of interest

  - Letter of Intent is based on an equity position in the company, anNSR (“Net smelter royalty”), active board seat, right toparticipate in all future financings and input into the managementteam

  - From 1953-1991 the Chapais region produced over 1 billion pounds ofcopper and 1 million ounces of gold

Brossard, Quebec - TheNewswire - May11, 2021 – Windfall Geotek (TSXV:WIN ) , ( OTC:WINKF ) , ( FSE:L7C2) (“Windfall” of the “Company”) amining technology company and a leader in the use of ArtificialIntelligence (AI) with advanced knowledge-extraction techniques since2005 announces it has signed a binding letter of intent to enter intoan agreement to develop the Chapais property (See Windfall News Release dated April8th, 2021). Terms of the definitive agreement are to befinalized no later than July 19, 2021 and will include:

1. 1. Issuance of shares to Windfall Geotek at preIPO/RTO valuation

2. 2. Issuance of an NSR on the property

3. 3. Board position with resultant public entityand input into key management hires

Dinesh Kandanchatha, Chairmancommented: “We had a lot ofinterest in this property, and are pleased to announce that we haveselected a partner with whom we envision having a relationship withover the long run. Our intent is to work with partners who understandthe value our technology can unlock throughout the various stages ofthe project.”

About the Chapais Property

• - Large property consisting of 36 claims and 1,560 hectares located490 km northwest of Montreal. Road accessible with power grid access

  - From 1953-1991 the Chapais region produced over 1 billion pounds ofcopper and 1 million ounces of gold

  - Mineralization on the Chapais property may be ofOpémiska style copper-gold vein type, particularly given itsproximity to the Springer and Perry mines. The mineralized veins ofthe Springer mine are restricted to fracture networks contained in theophitic parts of the gabbroic venture sill, which continues into theChapais property.

  - Windfall Geotek AI system has generated significant targets forgold, copper and zinc across the entire land package

  - Property borders the QC Copper & Gold Opemiska Property

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Figure 1. WindfallGeotek AI Copper Targets on Chapais Property

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Figure 2. WindfallGeotek AI Gold Targets on Chapais Property

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Figure 3. WindfallGeotek AI Zinc Targets on Chapais Property

About Windfall Geotek – Powered byArtificial Intelligence (AI) since 2005

Windfall is an Artificial Intelligence company that has been inbusiness for over 15 years developing its proprietary Windfall AIanalysis and data processing techniques. Windfall Geotek can count ona multidisciplinary team that includes professionals in geophysics,geology, Artificial Intelligence, and mathematics. It combinesavailable public and private datasets including geophysical, drillhole and surface data. The algorithms designed and employed byWindfall are calculated to highlight areas of interest that have thepotential to be geologically similar to other gold deposits andmineralization. Windfall Geotek AI increases shareholder value byreducing both time & exploration costs while reducing theenvironmental impact from mineral exploration. Windfall Geotek looksforward to leveraging it’s AI technology to find both precious andbase metals which will play a critical part in the future ofelectrification & reducing the world's carbon footprint. TheCompany's objective is to develop a new royalty stream bysignificantly enhancing and participating in the exploration successrate of mining and to continue the Land Mine detection application asa high priority. Windfall has played a part in numerous pastdiscoveries utilizing its methodology as described at: https://windfallgeotek.com/

For further information, please contact:

Simran Kamboj

President & CTO

Email: info@windfallgeotek.com

Tel : 1 (450) 678-8882

Website: www.windfallgeotek.com

Additional information about the Company isavailable under Windfall Geotek’s profile on SEDAR at www.sedar.com . Neither the TSXVenture Exchange nor does its Regulation Services Provider (as thatterm is defined in the policies of the TSX Venture Exchange) acceptresponsibility for the adequacy or accuracy of this release.

FORWARD-LOOKINGSTATEMENTS: This news release contains forward-looking statements,which relate to future events or future performance and reflectmanagement’s current expectations and assumptions. Suchforward-looking statements reflect management’s current beliefs andare based on assumptions made by and using information currentlyavailable to the Company. Investors are cautioned that theseforward-looking statements are neither promises nor guarantees, andthey are subject to risks and uncertainties that may cause futureresults to differ materially from those expected. Theseforward-looking statements are made as of the date hereof and, exceptas required under applicable securities legislation, the Company doesnot assume any obligation to update or revise them to reflect newevents or circumstances. All forward-looking statements made in thispress release are qualified by these cautionary statements and bythose made in our filings with SEDAR in Canada (available atWWW.SEDAR.COM).

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