Manning Ventures Inc. (the 'Company' or 'Manning') (CSE: MANN) is pleased to announce that, further to its news release dated January 19, 2021, the Company has closed a private placement of units (the 'Units') of the Company at a price of $0.15 per Unit (the 'Private Placement').

Pursuant to the Private Placement, the Company issued 10,067,906 Units for aggregate gross proceeds of $1,510,185.90. Each Unit consists of one common share in the capital of the Company (a 'Share') and one transferrable Share purchase warrant (a 'Warrant'). Each Warrant will entitle the holder thereof to purchase one Share (a 'Warrant Share') at a price of $0.25 per Warrant Share until February 11, 2023. In connection with the Private Placement, the Company has paid finder's fees totaling $55,459.25 and issued an aggregate of 369,728 non-transferable finders' warrants (the 'Finders' Warrants'). Each Finders' Warrant will entitle the holder thereof to purchase one Share (a 'Finders' Warrant Share') at a price of $0.25 per Finders' Warrant Share until February 11, 2023.

The company intends to allocate the net proceeds of the Private Placement for general working capital and for exploration expenditures on its Flint Lake and Squid East properties. Although the Company intends to use the proceeds of the Private Placement as described above, the actual allocation of net proceeds may vary from the uses set forth above, depending on future operations or unforeseen events or opportunities. All of the securities issued in the Private Placement are subject to a hold period of 4 months and a day pursuant to applicable securities laws which expires on June 12, 2021. - 2 - LEGAL_35595497.2.docx 'We're pleased with the interest in Manning,' said Alex Klenman, CEO. 'Capital provides the means for development, and we look forward to progressing our exploration efforts. The Company is well exposed to multiple sectors and we feel this gives us a greater path to growth in the near term. We're excited for what's ahead,' continued Mr. Klenman.

Contact:

Tel: (604) 681-0084

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