Asbestos Corporation Limited Announces Changes to its Board of Directors

AB.H

THETFORD MINES, QC, May 28, 2018 /CNW Telbec/ - Asbestos Corporation Limited announced today that, during its Annual Meeting of Shareholders held on May 24, 2018 in Brossard, Quebec, Mr. Serge Monette was elected to the Board of Directors in replacement of Messrs. Gérard Potvin and Raymond Raby. These changes were formally accepted and took effect on May 24, 2018.

Messrs. Gérard Potvin et Raymond Raby were elected to Asbestos Corporation's Board of Directors on September 15, 2000 and September 25, 1998 respectively. Mr. Potvin also chaired the Audit Committee. They decided not to seek a new mandate.

« Gérard's experience in the management of some major food retailing firms such as Aligro, of which he is a co-founder, and Steinberg, as Senior Vice-President, played a key role in the evolution of Asbestos Corporation in all the years he acted as a director », commented John LeBoutillier, President of the Company. « On behalf of Asbestos Corporation Limited, I would like to thank Gérard for his contribution and dedication. »

« Raymond has played a key role in the success of Asbestos Corporation. The worldwide recognition of this mining engineer who participated in major mining companies as an executive and as a director and was actively involved with bringing into production several mineral deposits has been a valuable asset for Asbestos Corporation Limited», added John LeBoutillier.

« On behalf of Asbestos Corporation Limited, I would like to thank them both for their contribution and dedication. I wish them all the best as they move forward in their professional and personal life. »

Mr. Serge Monette is an entrepreneur. He is the president of Retromobile Inc., a company he established in 1976 that operates an antique vehicle rental business with chauffeur. From 1979 until 2005, he was the founding president of Limousine Montreal Inc. which was, for more than 20 years, the most important chauffeur-driven limousine service for large corporations in Montreal. In the early part of his career, he was an investment dealer with J. T. Gendron Inc., a member of the Montreal Stock Exchange.

Asbestos Corporation Limited is a natural resource company whose focus in on the development of industrial minerals in order to provide value-added products that meet the criteria of customers worldwide with regard to performance and economic and ecological concerns. Asbestos Corporation Limited 's shares trade on the NEX Board of TSX Venture Exchange under the stock symbol AB.H.

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

SOURCE Asbestos Corporation Limited

John LeBoutillier, President, Tel. (office): [phone], Email: [email protected]