CALGARY, AB / ACCESSWIRE / May 19, 2020 / Point Loma Resources Ltd. (TSX.V:PLX) (the 'Corporation' or 'Point Loma') announces the cessation of all operations effective May 21, 2020. The board of directors, after extensive and careful consideration, have determined that Point Loma's business is no longer viable. In the present economic environment, Point Loma has been unable to refinance or recapitalize its business, and the Corporation, therefore, no longer has the financial capability to carry on its operations.

Point Loma has notified the Alberta Energy Regulator, the Saskatchewan Ministry of Energy and Mines ('the regulators') and will be working with the regulators for an orderly and safe shut-down of operations.

As a result of the foregoing, Point Loma announces that the directors will resign and the officers will be terminated on May 21, 2020.

For further information, please contact:

Terry Meek
President and CEO
Telephone: (403) 705-5051 ext. 444
tmeek@pointloma.ca

Thomas Love
VP Finance and CFO
Telephone: (403) 705-5051 ext. 443
tlove@pointloma.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Point Loma Resources Ltd