LUXEMBOURG, LUXEMBOURG--(Marketwired - Aug. 24, 2017) - Zebra Holdings and Investments S.à.r.l. ("Zebra"), 40, Boulevard Grande Duchesse Charlotte, L-1330 Luxembourg, a company controlled by a trust settled by the late Adolf H. Lundin, announces that effective today that it had acquired, on a private placement basis, ownership and control of 4,000,000 Units (the "Units") of Pine Point Mining Limited ("Pine Point" or "the Company" / TSXV:ZINC) of 1700-80 Richmond Street West, Toronto, Ontario M5H 2A4, at CDN$0.25 per Unit for an aggregate subscription price of CDN$1,000,000. Each Unit was comprised of one Common Share ("Common Share") and one-half of one Common Share purchase warrant (a "Warrant"), each whole Warrant entitling the holder to purchase one Common Share at a price of CDN$0.35 per Common Share for a period of two (2) years from the date of issuance. The Units were acquired directly from Pine Point pursuant to the non-brokered private placement announced by the Company on August 15, 2017 (the "Offering").

Prior to the offering, Zebra owned 12,500,000 Common Shares or approximately 8.79% of the then issued and outstanding Common Shares and 6,250,000 Warrants. With the acquisition of 4,000,000 Units, Zebra now holds 16,500,000 Common Shares representing approximately 10.99% of the issued and outstanding Common Shares of Pine Point. In addition, Zebra now also holds 8,250,000 Warrants and assuming exercise of the Warrants by Zebra and without taking into account the exercise of any other Warrants issued to subscribers in connection with the Offering, Zebra would hold approximately 16.38% of Pine Point's issued and outstanding Common Shares on a partially diluted basis.

Zebra has acquired the Common Shares and Warrants for investment purposes. Zebra may from time to time increase or decrease its investment in the Common Shares of Pine Point depending upon the business and prospects of Pine Point and depending upon future market conditions.

A copy of the Early Warning Report filed pursuant to National Instrument 62-103 will appear with Pine Point's documents on the System for Electronic Document Analysis and Retrieval (SEDAR) and may also be obtained from Sandy Kansky, 1-604-806-3574.