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Consent of Borden Ladner Gervais LLP
We hereby consent to the reference to our name
on the face page and under the headings "Documents Filed as Part of the U.S. Registration Statement" and "Legal
Matters", and to the reference to our name and use of our opinions under the headings "Eligibility for Investment"
and "Certain Canadian Federal Income Tax Considerations", in the prospectus supplement dated July 16, 2024 relating to
the issuance by Cardiol Therapeutics Inc. of common shares upon exercise of warrants of Cardiol Therapeutics Inc., which forms part of
the Registration Statement on Form F-10 (File No. 333- 280713).
In giving this consent, we do not admit that we
are in the category of persons whose consent is required under Section 7 of the Securities Act of 1933, as amended.
| /s/ Borden Ladner Gervais LLP | |
| Borden Ladner Gervais LLP |