August 30, 2019 – Vancouver, British Columbia – Arbor Metals Corp. (formerly, Vela Minerals Ltd.) (the “Company”) (TSXV: ABR) announces that it has changed its name to “Arbor Metals Corp.” As previously announced, the change of name is part of a corporate rebranding being undertaken by the Company. Effective at the opening of markets on Tuesday, September 3, 2019, the common shares of the Company will commence trading on the TSX Venture Exchange under the new name and the ticker symbol “ABR”. Holders of share and warrant certificates in the Company’s prior name do not need to take any action as a result of the name change. For further information, contact Alex Klenman at firstname.lastname@example.org. On behalf of the Board, Arbor Metals Corp. Alex Klenman, Chief Executive Officer Neither the 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. This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to completion of a corporate rebranding and the effective date for the commencement of trading under the name “Arbor Metals Corp.”, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business,economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.