NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESSWIRE / December 14, 2020 / Tracesafe Inc., ("TraceSafe") (CSE:TSF) a global leader in wearable safety tech, including contact tracing and quarantine management, is pleased to announce it will be the exclusive and official contact tracing partner of the 2021 IIHF World Junior Championship in Edmonton, Alberta from December 13, 2020 to January 5, 2021. Powered by the TELUS Communications (T / TU) world-leading wireless network, TraceSafe will provide staff members and players with TraceSafe wearable safety tech solutions across the tournament bubble.

Hockey Canada has developed strict protocols to keep close to 1,000 players, team staff, members of the media, officials, and support personnel safe throughout the 2021 IIHF World Junior Championship. TraceSafe has been selected to provide its comprehensive contact tracing solutions to ensure compliance with health and safety protocols throughout the tournament.

To promote the safety of all participants and the community at large, every tournament member will be required to self-isolate upon arrival in their individual hotel room and will be supplied with a TraceSafe wristband that will enable event organizers to ensure that they self-isolate for the required time.

Additionally, throughout the event, all teams and tournament staff will have TraceSafe's contact tracing beacon embedded in their event credentials. TraceSafe's low powered BLE technology will prompt physical distancing reminders and provide real-time contact tracing for all participants. TraceSafe wearable safety tech will be complemented by regular COVID-19 testing throughout the event.

Data collected by our wearables within the bubble and during the championship is pseudonymized and secured using top-level encryption. Our technology only monitors interactions with other people within authorized locations. Localized contact tracing cannot function once the participant leaves the contact site, eliminating fears of being "always-on". No smartphone app download required.

The 2021 IIHF World Junior Championship will be held using a single-venue format in Edmonton without spectators. The host venue was one of two restart arenas used for the 2020 NHL Stanley Cup Playoffs and has experience in bubble crowd management during COVID-19. TraceSafe has expertise in sports and venue management and this partnership will further solidify TraceSafe as a leading option for venues and sports teams looking to resume action safely.

Executive Quotes

"We are proud to be working with TELUS and Hockey Canada to bring TraceSafe's suite of technology in professional sports and venue management to the World Junior Hockey Championship to ensure all teams, players and staff are safe and secure," said TraceSafe CEO Wayne Lloyd. "This opportunity to support the next generation of athletes with our technology speaks to the growing reputation and trust of the TraceSafe suite of products throughout the international sports community."

"As we continue to prepare for the 2021 IIHF World Junior Championship, we are excited to work with TraceSafe to ensure the health and safety of all participants and the community at large in Edmonton," said Dean McIntosh, vice-president of events and properties with Hockey Canada. "We are grateful to TraceSafe and TELUS for their commitment to participant health and safety, and we know this leading technology will help Hockey Canada and the local organizing committee host a safe, successful event."

"Ensuring the safety and connectivity of the players, staff and other participants at this year's World Junior Hockey Championship is of paramount importance to TELUS," said Andrew Turner, Vice President of Strategic Operations at TELUS. "We are pleased to partner with TraceSafe and Hockey Canada, leveraging our world-leading networks and IoT capabilities to enable comprehensive and secure protection and connectedness throughout the tournament, ensuring Canadians have the opportunity to cheer on our reigning champions as they once again go for gold."

About TraceSafe powered by TELUS

What does it mean to be powered by the best? During the World Juniors, TraceSafe's quarantine management and contact tracing solutions will be powered by TELUS. Their powerful network will ensure uninterrupted connectivity for all TraceSafe wearables and gateways. All wearable devices will be branded with "TraceSafe powered by TELUS".

About TraceSafe

TraceSafe is a full suite of real-time location management services and contact tracing solutions enabled through advanced low power Bluetooth beacons and enterprise cloud management. TraceSafe's leading cloud management solution ensures both user privacy and comprehensive administrative control. TraceSafe's patented contact tracing bracelet has already been deployed in mission-critical quarantine applications around the world in partnership with leading governments. In addition to their government work, TraceSafe is developing leading-edge solutions for Enterprise, Healthcare, Education, Government and large-scale venue management.

About TELUS

TELUS (T, TU) is a dynamic, world-leading communications and information technology company with $15.3 billion in annual revenue and 15.7 million customer connections spanning wireless, data, IP, voice, television, entertainment, video and security. We leverage our global-leading technology to enable remarkable human outcomes. Our longstanding commitment to putting our customers first fuels every aspect of our business, making us a distinct leader in customer service excellence and loyalty. TELUS Health is Canada's largest healthcare IT provider, and TELUS International delivers the most innovative business process solutions to some of the world's most established brands.

Driven by our passionate social purpose to connect all Canadians for good, our deeply meaningful and enduring philosophy to give where we live has inspired our team members and retirees to contribute more than $700 million and 1.3 million days of service since 2000. This unprecedented generosity and unparalleled volunteerism have made TELUS the most giving company in the world.

For more information about TELUS, please visit telus.com, follow us @TELUSNews on Twitter and @Darren_Entwistle on Instagram.

About Hockey Canada

Hockey Canada is the governing body for hockey in Canada and a member of the International Ice Hockey Federation (IIHF), with a membership through its 13 member associations of over 750,000 players, coaches and officials. Hockey Canada is a not-for-profit organization that creates leading-edge hockey development programs for its members to deliver in communities across Canada; provides consistent rules and regulations and various other membership services from coast to coast to coast; manages numerous regional, national and international hockey championships and events; and leads the operation of all teams that represent Canada in international competition. Hockey Canada's mission is to lead, develop and promote positive hockey experiences. For more information on Hockey Canada, please visit HockeyCanada.ca or follow through social media on Facebook and Twitter.

Program details can be found on hockeycanada.ca/tracesafe or en français hockeycanada.ca/tracesafe_fr.

For more information and media enquiries, please contact:

TraceSafe
Trevor Beckman
tbeckman@storycommunications.ca
403-461-7733

Hockey Canada
Spencer Sharkey
ssharkey@hockeycanada.ca
905-906-5327

The Canadian Securities Exchange has in no way approved or disapproved the contents of this news release.

Statements in this news release may contain forward-looking statements that are based on TraceSafe's expectations, estimates and projections regarding its business and the economic environment in which it operates, including with respect to expectations regarding the TraceSafe assets and their application, future business plans and relationships, future developments in respect of COVID-19 and solutions adopted in response to the virus, and the deployment and acceptance of the TraceSafe technology. Although TraceSafe believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict, including the suitability of our products to help businesses and governments reopen, competition, the spread or containment of COVID-19 and government responses thereto and general economic and market conditions. Therefore, outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. These forward-looking statements speak only as of the date on which they are made, and TraceSafe undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances unless otherwise required to do so by law.

SOURCE: TraceSafe Inc.

ReleaseID: 620743

TORONTO, ON / ACCESSWIRE / December 14, 2020 / Eskay Mining Corp. ("Eskay" or the "Company") (TSXV:ESK)(OTCQB:ESKYF)(FSE:KN7)(WKN:A0YDPM) is pleased to announce that it has closed the brokered private placement offering previously announced on November 20, 2020 and November 26, 2020 and has issued an aggregate of 1,214,100 units of the Company (the "Units") at a price of $0.90 per Unit (the "Unit Issue Price"), 2,904,700 flow-through shares of the Company (the "FT Shares") at a price of $1.05 per FT Share and 9,657,000 flow-through units of the Company (the "FT Units", and with the Units and FT Shares collectively, the "Offered Securities") at a price of $1.25 per FT Unit for aggregate gross proceeds of $13,799,625 (the "Offering"). The Offering was led by Echelon Wealth Partners Inc. and Eight Capital as co-lead agents (the "Agents").

"Strong demand for Eskay's financing illustrates the excitement behind our recent discovery of multiple precious metal rich VMS systems across our very large land holding in the Golden Triangle," commented Dr. Quinton Hennigh, Director of and Technical Advisor to Eskay Mining. "These funds ensure our ability to undertake an aggressive, +30,000 m diamond drill program in 2021. Next year's program will focus on three objectives: 1) infill and step-out drilling at the 5 km long TV-Jeff VMS trend, 2) infill and step-out drilling at the 3 km long SIB-Lulu VMS system immediately adjacent to and on strike with Skeena Resources' Eskay Creek deposit, and 3) initial drill testing of up to a dozen newly identified high-priority targets across the property. Logistics and drill planning is currently underway with plans to commence drilling in June, 2021. We firmly believe that we are on the path to a significant precious metal rich VMS discovery and that next season's exploration program will prove to be one of the most exciting in Canada."

Each Unit and Each FT Unit consists of one common share of the Company and one-half of one common share purchase warrant (each whole warrant a "Warrant"), with each Warrant entitling the holder thereof to acquire one common share of the Company (a "Warrant Share") at a price $1.30 until December 11, 2022.

The Company had granted the Agents an option to purchase up to an additional 20% of the Offered Securities which was exercised by the Agents.

The net proceeds from the Offering will be used to fund the Company's exploration activities, and for general corporate purposes. The gross proceeds received by the Company from the sale of the FT Shares and FT Units will be used to incur Canadian Exploration Expenses ("CEE") that are "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)) on the Company's properties in British Columbia, which will be renounced to the subscribers with an effective date no later than December 31, 2020, in the aggregate amount of not less than the total amount of the gross proceeds raised from the issue of FT Shares and FT Units.

The Agents were paid a cash commission of $737,977.50 and issued 582,789 compensation options (the "Compensation Options"). Each Compensation Option entitles the holder thereof to subscribe for one Unit at the Unit Issue Price until December 11, 2022.

All securities issued pursuant to the Offering are subject to a resale restriction expiring on April 12, 2021.

The securities to be offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Eskay Mining Corp:
Eskay Mining Corp (TSXV:ESK) is a TSX Venture Exchange listed company, headquartered in Toronto, Ontario. Eskay is an exploration company focused on the exploration and development of precious and base metals along the Eskay rift in a highly prolific region of northwestern British Columbia known as the "Golden Triangle", approximately 70km northwest of Stewart, BC. The Company currently holds mineral tenures in this area comprised of 177 claims (130,000 acres).

All material information on the Company may be found on its website at www.eskaymining.com and on SEDAR at www.sedar.com.

For further information, please contact:
Mac Balkam
President & Chief Executive Officer
T: 416 907 4020
E: Mac@eskaymining.com

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.

Forward-Looking Statements:
This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

SOURCE: Eskay Mining Corp.

ReleaseID: 620643

TORONTO, ON / ACCESSWIRE / December 14, 2020 / AurCrest Gold Inc. (the "Company" or "AurCrest") (TSX-V:AGO) is pleased to announce the it has purchased the 2% net smelter returns royalty on the Richardson Lake Gold Property in consideration for the payment of $60,000. The Company now holds a 100% interest in the property.

The Richardson Lake Gold Property, within the Birch-Uchi Greenstone Belt in the Red Lake Mining District, is a core asset for the Company and the focus of several past exploration programs.

The Company also wishes to advise that the geochemistry field program announced by the Company on November 17, 2020 has been completed, and that all samples have been submitted to Activation Laboratories Ltd. ("ActLabs") for Spatiotemporal Geochemical Hydrocarbon ("SGH") exploration geochemistry analytical services. The completed field program and pending analysis have been intended to provide further delineation of gold targets previously identified by the proprietary CARDS AI data acquired from Windfall Geotek Inc. ("Windfall"), as announced by the Company on September 2, 2020. The CARDS AI data indicates that the Company's Ranger Lake Gold Property encompasses several high priority gold targets. The ActLabs SGH analysis will build further guidance for a drill program on the property anticipated for Winter 2021.

AurCrest Gold is a leader in the First Nations advancement into shared participation and inclusion in the regional mining opportunities and counts as its board of directors and management, past and present, many indigenous business and cultural leaders. AurCrest is proud to play a leading role in the gold exploration of Northwestern Ontario, especially in the Birch-Uchi Greenstone Belt and the Red Lake mining district, as it forges new business relationships between Canada's founding cultures.

About AurCrest Gold Inc.

AurCrest is a mineral exploration company focused on the acquisition, exploration, and development of gold properties. AurCrest has a portfolio of properties in Ontario, which include the Richardson Lake and Bridget Lake gold properties.

FOR FURTHER INFORMATION PLEASE CONTACT:

AurCrest Gold Inc.

Christopher Angeconeb
President and C.E.O
(807) 737-5353
christopherangeconeb@gmail.com

Ian Brodie-Brown
Director of Business Development
(416) 844-9969
ianbrodiebrown@gmail.com

Forward Looking Statement:

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. AurCrest undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

Neither 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: AurCrest Gold Inc.

ReleaseID: 620747

VANCOUVER, BC / ACCESSWIRE / December 14, 2020 / Pacific Frontier Investments Inc. ("PFI") is pleased to announce that its RV park & campground located in the Fraser Valley, operated under license granted by Metro Vancouver Regional district, is operating at 100% capacity and is expected to have no occupancy available until mid-April.

The Fraser Valley location is strategically located near the popular tourism town of Fort Langley, B.C. and offers a favourable mild climate suitable for the winter stay RV program. The winter stay program consists of a 6-month period from October to April where customers can temporarily park their RV, utilize the full hook-ups and vacation for the winter. Currently all camp sites that offer a 30/50-amp electrical service, water and sewer connection are occupied, and the Company has reserved a handful of sites for short term rentals.

Chief Operating Officer, Stan Duckworth stated, "prior to the pandemic, our location in Fort Langley had high occupancy rates in the winter, and we believe this program will be successful at our other offerings too." Stan Duckworth has more than 20 years of consulting and Sr. management experience in the British Columbia campground and vacation rental industry and has operated the Fort Langley location for more than 19 years.

The Company believes that as a result of increased RV sales, rising real estate prices and changes to the way Canadians choose to travel and vacation, the Winter stay program will be a popular and affordable choice for RV customers for many years to come. All Pathfinder Camp Resorts are located near well-known population centres and will offer a winter stay program, in addition to short-term daily rentals from May to October. The year-round revenue model is a component to the Company's strategy in creating a foothold in southern British Columbia, where the climate is advantageous compared to northern BC and eastern provinces.

Expansion and Acquisition Pipeline

PFI is committed to the growth of its Pathfinder Camp Resorts brand and has several acquisitions in its pipeline that meet the brand's criteria. PFI plans to expand and acquire a property on Vancouver Island, British Columbia in the near future.

Recently Announced Private Placement Increased

On Dec 7, 2020 PFI announced an increase to its previously announced non-brokered private placement from $2,100,000 to $4,900,000. The terms of the non-brokered private placement remain unchanged whereby the Company is offering a Common Share at a price of $0.07 per share for gross proceeds of up to $4,900,000.

Qualifying Transaction with Discovery One Investments Corp. (TSXV: DOIT.P) "DOIT"

PFI's plans to list on the TSX Venture Exchange remain on track where the arrangement will represent a Reverse-Take-Over transaction of DOIT by PFI. The amalgamation is expected to close on or about Feb. 28, 2021. Trading in DOIT's shares will remain halted until completion of the amalgamation. Complete details regarding PFI, the amalgamation and the financing will be contained in a filing statement which will be filed on SEDAR prior to closing.

For further information, please contact:

Pacific Frontier Investments Inc.
Joe Bleackley- Chief Executive Officer, Founder and Director
Phone: (604) 914-2575
Email: ir@pacificfrontier.co

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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Forward-Looking Information Cautionary Statement

This news release contains forward-looking statements relating to the timing and completion of the Transaction, the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the Transaction and the future plans and objectives of the Corporation, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's expectations include the failure to satisfy the conditions to completion of the Transaction set forth above and other risks detailed from time to time in the filings made by the Corporation with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Corporation. As a result, the Corporation cannot guarantee that the Transaction will be completed on the terms and within the time disclosed herein or at all. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Corporation will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

In the case of PFI, this news release includes certain "forward-looking statements" which are particular to PFI and are not comprised of historical facts. Forward-looking statements include estimates and statements that describe PFI's future plans, objectives or goals, including words to the effect that PFI or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to PFI, PFI provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, PFI's objectives, goals or future plans, statements, its projected revenues and earnings, and anticipated future growth in new markets. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the ability of the PFI to successfully implement its development strategy and whether this will yield the expected benefits; competitive factors in PFI's industry sector; the success or failure of product development programs; currently existing applicable laws and regulations or future applicable laws and regulations that may affect PFI' s business; decisions of regulatory authorities and the timing thereof; Covid-19 related risks, availability of properties; the economic circumstances surrounding PFI's business, including general economic conditions in Canada, the US and worldwide; changes in exchange rates; changes in the equity market; inflation; uncertainties relating to the availability and costs of financing needed in the future; and those other risks to be disclosed in the filing statement or other disclosure document to be prepared in connection with the Transaction. Although PFI believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. PFI disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

SOURCE: Pacific Frontier Investments Inc.

ReleaseID: 620737

VANCOUVER, BC / ACCESSWIRE / December 14, 2020 / Endurance Gold Corporation (TSX.V:EDG) (the "Company") is pleased to report completion of seventeen reverse circulation (RC) drill holes on the Reliance Gold Property (the "Property") in southern British Columbia. The drilling program for this initial phase of drilling is now complete. The Property is located 4 kilometres ("km") east of the village of Gold Bridge with year-round road access, and 10 km north of the historic Bralorne-Pioneer Gold Mining Camp which has produced over 4 million ounces of gold.

The program was completed as planned with first pass shallow drill testing of the Eagle South Zone, Eagle Zone, Imperial and Imperial North. Seventeen RC drill holes with a total of 978.4 metres ("m") of drilling were completed. All RC drill holes were planned with a maximum depth of 70.1 m (230 feet). Holes were stopped short if they encountered the water table which can negatively affect the RC sample quality. A 2 to 3 kg representative sample split was collected from 1.52 m (5 foot) drill intervals from the entire length of each RC hole. A total of 609 samples have been submitted for gold assay and multi-element analysis to the ALS Global laboratory in North Vancouver.

Geological descriptions and portable XRF analysis are currently ongoing at the project site utilizing duplicate samples of the RC chips collected as reference material from each hole. A map showing the drill hole locations is appended and available on the Company's website. A table summarizing the drill statistics is appended below. The following provides a summary of the areas drilled.

Eagle South Zone – The furthest south exposure of the Royal Shear. As reported on October 15, 2020 channel sampling from outcrop returned 8.9 grams per tonne ("gpt") gold over 9.6 m within a wider mineralized zone of 6.92 gpt gold over 13.4 m. RC20-007 and RC20-008 are minus 45 degree inclined drill holes of 70.1 m each and were drilled from the same collar location to test this target. The objective of these holes was to determine the dip and strike extent of the mineralized shear discovered at surface. The collar was located 9 m southwest of the south end of the channel-sampled outcrop.

Eagle Zone (Eagle 3 roadcut) – This is the southeastern exposure of the Eagle Zone of the Royal Shear Zone on a mineralized strand that appears independent of the Eagle South Zone. As reported on November 16, 2020 channel sampling from outcrop averaged 4.88 gpt gold over 23.5 m, including two higher grade intervals of 8.60 gpt gold over 9.1 m and 10.87 gpt gold over 2.1 m. The strike and dip extent of the Eagle 3 mineralization was tested with drill holes RC20-009 and RC20-013. Both holes were inclined at minus 45 degree.

Eagle Zone (Eagle 2 roadcut) – The Eagle 2 channel sampling did not intersect the wide zone of mineralization found at Eagle 3. As reported on October 26, 2020, Eagle 2 channel sampling averaged 4.94 gpt gold over 1.5 m and 5.28 gpt gold over 1.8 m which are interpreted to be narrower shear-strands subparallel to the E3 strand mineralization. Drill holes RC20-010, RC20-011 and RC20-012 were collared along the Eagle 2 roadcut and inclined to the northeast with the goal of extending the strike extent of the Eagle 3 strand mineralization by up to 50 metres. Stibnite bearing and sulphide bearing quartz vein chips were observed in all three drill holes.

Eagle Zone (Eagle 1 roadcut) – As reported on October 26, 2020, Eagle 1 channel sampling from outcrop averaged 5.89 gpt gold over 31.5 m including a higher grade interval of 9.69 gpt gold over 9.1 m. Drill holes RC20-014 and RC20-015, were drilled at minus 45 degrees and minus 65 degrees and achieved depths of 41.1 m and 39.6 m, respectively. These holes were collared approximately 10 m from the Eagle 1 channel samples. A third hole RC20-016, drilled at minus 45 degrees, was collared about 30 metres south of RC20-014 and RC20-015 and achieved a depth of 47.2 m. Stibnite bearing and sulphide bearing quartz vein chips were observed in all three holes.

Eagle Zone (Eagle 0 roadcut) – As reported on October 26, 2020 channel sampling from the Eagle 0 outcrop averaged 3.63 gpt gold over 17.7 m including two higher grade intervals of 7.19 gpt gold over 3.7 m and 6.35 gpt gold over 4.9 m. At Eagle 0, RC20-017 was collared just to the south of the sampled road cut and drilled at minus 45 degrees under the outcrop. Stibnite bearing and sulphide bearing quartz vein chips were observed in RC 20-17 and thus the Eagle 0 shear is currently interpreted to have been intersected in the drilling.

Imperial North Zone – As reported on November 23, 2020 channel sampling from the Imperial North outcrop averaged 3.14 gpt gold over 6.7 m. The full width of this sulphidized shear strand is not exposed and thus was tested with RC holes RC20-01 and RC20-02 inclined at minus 45 degrees. The holes were collared 35 m south of the Imperial North channel sample and were drilled at different azimuths to determine the strike of the zone.

Imperial Zone – The Imperial Zone has never been identified at surface and drill holes RC20-003, RC20-005, and RC20-006 were completed to test for the near-surface extent of mineralization based on interpretation utilizing historic drilling results. Drill hole RC20-004 was abandoned.

Endurance Gold Corporation is a company focused on the acquisition, exploration and development of highly prospective North American mineral properties with the potential to develop world-class deposits.

ENDURANCE GOLD CORPORATION

Robert T. Boyd

FOR FURTHER INFORMATION, PLEASE CONTACT
Endurance Gold Corporation www.endurancegold.com
(604) 682-2707, info@endurancegold.com

RC samples were collected under the supervision of a geologist at the drilling rig. Drilling was completed using a 3.5 inch hammer bit and rock chip samples were collected using a cyclone. Sample size were reduced to 1/8th size with a riffle splitter at the drilling rig. A second duplicate split and coarse chips were collected for reference material and stored at the property. All RC samples were submitted to ALS Global in North Vancouver, BC, an ISO/IEC 17025:2017 accredited laboratory, where they were crushed to 70% <2 mm then up to 250 gram pulverized to <75 microns. Samples were then submitted for four-acid digestion and analyzed for 48 element ICP-MS (ME-MS61) and gold 30g FA ICP-AES finish (AU-ICP21). Over limit samples returning greater than 10 ppm gold were re-analyzed by Au-GRA21 methodology and over limit antimony returning greater than 10,000 ppm Sb were re-analyzed by Sb-AA08 methodology. Grab samples are selective by nature and are unlikely to represent average grades on the property or within the target areas. The work program was supervised by Darren O'Brien, P.Geo., an independent consultant and qualified person as defined in National Instrument 43-101. Mr. O'Brien has reviewed and approved this news release.

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 news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.

Reliance Property, BC – Reverse Circulation Drilling Summary – December 14, 2020

SOURCE: Endurance Gold Corporation

ReleaseID: 620785

VANCOUVER, BC / ACCESSWIRE / December 14, 2020 / Red Lake Gold Inc. (CSE:RGLD)(FWB:P11)("Red Lake Gold" or the "Corporation") is pleased to announce that the Corporation and its wholly-owned subsidiary Fenelon Gold Inc. have contracted Precision GeoSurveys Inc. to perform a high-resolution aeromagnetic exploration survey at the Fenelon North Gold Project in Quebec. The Fenelon North Gold Project is situated immediately adjacent to the Fenelon Gold Project being advanced by Wallbridge Mining Company Limited.

"As we work towards our 2021 exploration plans within the Red Lake gold camp, we are excited to announce our upcoming inaugural exploration at our Fenelon North Gold Project which is situated in one of Quebec's most promising gold districts. Our project covers a significant portion of the Jeremie Pluton and our exploration survey there is designed to assist us in exploring for potential gold-bearing areas within our large-scale project," stated Ryan Kalt, Chief Executive Officer of Red Lake Gold.

The program budget for the winter 2020 geophysical exploration program is expected to meet or exceed qualifying expenditures required to constitute the Fenelon North Gold Project as a "qualifying project" as that term is more generally referred to in the policies of the CSE Exchange.

Winter 2020 Geophysical Survey (Fenelon North Gold Project)

The winter 2020 geophysical survey is designed to cover 914 line-kilometers on a 50m spacing basis and is scheduled to commence this month. The heli-borne airborne survey will be flown in a systematic low-level grid pattern and will cover priority areas of the Fenelon North Gold Project located within the western portion of the project. The winter 2020 geophysical survey will extend coverage over 42.6 km2 with particular emphasis on exploration of tenure holdings overlaying the Jeremie Pluton.

Figure One: Fenelon North Gold Project – Western Project Area

Figure Two: Planned Winter 2020 Geophysical Survey Area

The mag survey will utilize four Scintrex CS-3 cesium vapor magnetometer sensors; in a custom-designed non-magnetic and non-conductive survey bird for triaxial gradient and total magnetic intensity measurements. Compared to conventional single-sensor survey systems, this design allows for direct measurement of the magnetic gradient in the X, Y and Z axes with four magnetic sensors rather than calculating the gradient from one sensor. This eliminates aircraft-induced noise and will provide more structural detail, especially for near-surface targets, without compromising the total magnetic intensity.

The airborne survey is planned to be flown at a nominal flight height of 40m above ground, plus/minus allocated variances.

About the Fenelon North Gold Project

Red Lake Gold Inc., in conjunction with its wholly-owned subsidiary, Fenelon Gold Inc., is advancing its Fenelon North Gold Project, which shares a 50km common property boundary with Wallbridge Mining Company Limited. The Fenelon North Gold Project brings together more than 60,000 acres of regional tenure holdings, including substantial tenure within the Jeremie Pluton, a structure that has recently seen increased exploration industry focus (see also Red Lake Gold news releases dated February 12, 2020 and June 2, 2020).

Additional information on the Fenelon North Gold Project may be found at:

https://www.redlakegold.ca/fenelon_north

The Corporation cautions that past results or discoveries on the adjacent property (e.g. Wallbridge Mining Company's Fenelon Gold Project) may not necessarily be indicative as to the presence of mineralization on the Corporation's property (e.g. Red Lake Gold/Fenelon Gold's Fenelon North Gold Project).

Mr. Garry Clark, P.Geo., is the Qualified Person for Red Lake Gold Inc. and approves the technical content of this news release.

On Behalf of the Board of Directors

Ryan Kalt
Chairman & Chief Executive Officer
Email: info@redlakegold.ca

Forward-Looking Statements

This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently expected or forecast in such statements.

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

SOURCE: Red Lake Gold Inc.

ReleaseID: 620735

TDG GOLD CORP.
(formerly, Kismet Resources Corp.)
Unit 1 – 15782 Marine Drive
White Rock, B.C., V4B 1E6

WHITE ROCK, BC / ACCESSWIRE / December 11, 2020 / TDG Gold Corp. (formerly, Kismet Resources Corp.) (TSXV:KSMT.P) (the "Company") is pleased to announce that, further to its news releases of July 29, 2020, October 5, 2020 and December 2, 2020, it has closed its "Qualifying Transaction" (the "Transaction") with TDG Gold Corp. The Company changed its name from "Kismet Resources Corp." to "TDG Gold Corp." and completed a share consolidation (the "Consolidation") on the basis of two pre-consolidation common shares for one post-consolidation common share (each, a "post‑Consolidation Share"). In connection with the completion of the Transaction, the Company's common shares are expected to commence trading on a consolidated basis on the TSX Venture Exchange (the "Exchange") under the symbol "TDG" at the open of the market on or about December 17, 2020.

The Company also closed today a private placement financing (the "Concurrent Financing") pursuant to which it raised approximately $4,033,610 through the issuance of 3,645,000 non-flow through units (each, a "Non-Flow Through Unit") at a price of $0.30 per Non-Flow Through Unit and 6,917,907 flow-through units (each, a "Flow Through Unit") at a price of $0.425 per Flow Through Unit. Each Non-Flow Through Unit and each Flow Through Unit have the terms described in the Company's news release dated December 2, 2020. The Company issued an additional 487,135 Non Flow-Through Units to an arm's length finder in connection with the Concurrent Financing. All securities issued pursuant to the Concurrent Financing are subject to a hold period prescribed under Canadian securities laws expiring on April 12, 2020.

Upon recommencement of trading, the Company will have approximately 57,268,669 post-Consolidation Shares outstanding, of which 18,973,699 post-Consolidation Shares were issued to Talisker Resources Ltd. pursuant to an asset purchase agreement as described in the Company's press release dated July 29, 2020. The Company's outstanding stock options will be adjusted on the same basis (2:1) to reflect the Consolidation in accordance with their respective terms, with proportionate adjustment being made to exercise prices. The new CUSIP and ISIN numbers for the post-Consolidation common shares are 87190J105 and CA87190J1057, respectively. Letters of transmittal providing instructions on exchanging pre-Consolidation Share certificates for post-Consolidation Share certificates to be issued in the name of TDG Gold Corp. will be mailed by Computershare Investor Services Inc. ("Computershare") to the Company's registered shareholders. Registered shareholders are encouraged to send their share certificates, together with their letter of transmittal, to Computershare in accordance with the instructions in the letter of transmittal. Beneficial shareholders holding common shares in the capital of the Company through an intermediary should be aware that the intermediary may have different procedures for processing the Consolidation and are encouraged to contact their respective intermediaries in this regard. No fractional common shares will be issued as a result of the Consolidation. Where the Consolidation would otherwise result in an entitlement to a fractional common share, the number of post-Consolidation Shares issued will be rounded down to the next whole number of common shares.

Mr. Fletcher Morgan, who was appointed the Chief Executive Officer and a director of the Company today, subscribed for 85,000 Non-Flow Through Units for proceeds of $25,500, representing approximately 0.63% of the gross proceeds of the Concurrent Financing. Mr. Andrew French, who was appointed the Chair and a director of the Company today, subscribed for 67,000 Non-Flow Through Units, representing approximately 0.50% of gross proceeds of the Concurrent Financing. None of the proceeds from the Concurrent Financing are allocated to pay compensation to or settle indebtedness owing to principals of the Company. The participation in the Concurrent Financing by Messrs. Morgan and French constitute related party transactions pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the participation of the related parties in the Concurrent Financing in reliance on the exemptions contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, respectively. The Concurrent Financing was unanimously approved by the board of directors of the Company, which, at the time, did not include Messrs. Morgan and French.

In connection with the Transaction, the Company's legal advisor was Cassels Brock & Blackwell LLP, and TDG Gold Corp.'s legal advisor was Maxis Law Corporation.

Final acceptance of the Transaction, including the Concurrent Financing, by the Exchange is subject to the Company filing all final documentation.

ON BEHALF OF THE BOARD

Fletcher Morgan
Chief Executive Officer

For further information:

TDG Gold Corp., please contact Fletcher Morgan
Telephone: +1.604.536.2711
Email: info@tdggold.com

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.

Forward-Looking Statements

This news release may contain forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the Company's current plans. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such forward‑looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including that the Transaction contemplated herein is completed. Forward-looking statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to: the ability of the Company to obtain necessary approvals to complete the Transaction or to satisfy the requirements of the Exchange with respect to the Transaction and the Concurrent Financing. The cautionary statements qualify all forward-looking statements attributable to the Company and persons acting on its behalf. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward- looking statement, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Accordingly, undue reliance should not be put on such statements due to the inherent uncertainty therein.

SOURCE: Kismet Resources Corp.

ReleaseID: 620652

Not for distribution to United States NEWSWIRE SERVICES or for dissemination in the United States

VANCOUVER, BC / ACCESSWIRE / December 11, 2020 / Endurance Gold Corporation (TSX.V:EDG) (the "Company") is pleased to report that it has closed its non-brokered private placement (the "Offering") announced by news release dated November 24, 2020. The Offering was originally announced for gross proceeds of up to $403,000 through the sale of 2,600,000 units (each, a "Unit") at a $0.155 per Unit. After receiving expressions of interest that exceeded the originally announced financing, the Company increased the size of Offering to $644,070 through the sale of 4,155,290 Units on the same terms announced on November 4, 2020.

The Company has now closed the Offering and raised aggregate gross proceeds of $644,070 through the sale of 4,155,290 Units at $0.155 per Unit. Each Unit shall be comprised of one common share (each, a "Share") and one non-transferable common share purchase warrant (each, a "Warrant"). Each Warrant shall entitle the holder to purchase one additional Share of the Company at an exercise price of $0.25 for a period of two years from the date of closing (the "Closing"). An insider of the Company has subscribed for 150,000 Units of the Offering.

In connection with the Offering, the Company will pay a total cash consideration of $12,586 as finder's fee. The gross proceeds of the Offering will be used to fund the Company's exploration activities and for general corporate purposes.

The Closing of the Offering is subject to TSXV Exchange's final approval, and the securities issued in this Offering are subject to a hold period of four months plus one day from the Closing.

ENDURANCE GOLD CORPORATION

Robert T. Boyd
President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT

Endurance Gold Corporation
(604) 682-2707, info@endurancegold.com
www.endurancegold.com

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.

SOURCE: Endurance Gold Corporation

ReleaseID: 620544

SINGAPORE, SINGAPORE / ACCESSWIRE / December 11, 2020 / Jadestone Energy Inc. (AIM:JSE) ("Jadestone", the "Company", or the "Group"), an independent oil and gas production company focused on the Asia Pacific region, is pleased to announce that all conditions required to complete its proposed acquisition of an operated 90% interest in the Lemang production sharing contract (the "Lemang PSC"), onshore Indonesia, are now satisfied.

This includes receipt of governmental approval of the assignment of the interest and of Jadestone's appointment as operator, and other consents required under the Lemang PSC joint operating agreement.

Jadestone, as buyer, and Mandala Energy Lemang Pte Ltd (the "Seller"), will now proceed to close the transaction, which will become effective upon the Seller confirming receipt of the US$12 million purchase consideration. This is anticipated to occur within the coming days.

Paul Blakeley, President and CEO commented:

"I am delighted to complete our acquisition of the Lemang PSC, and to re-establish our operating presence in Indonesia. The asset adds balance and diversity to our portfolio and creates an opportunity to develop high-value gas for an energy-hungry region; a region which is otherwise increasingly dependent on coal to meet its growing energy needs.

"We will maintain a measured pace toward development spending, but look forward to resuming investment into a jurisdiction and basin we know well, through our team's prior involvement in the South Sumatra region."

Through the secondment of Jadestone personnel into the Seller's organisation, leading up to deal completion, the Company has already begun work to instill the Jadestone operating philosophy and efficiency-oriented culture. Key discussions are also underway in respect of future gas sales arrangements, so as to commercialise the Lemang PSC's 2C resources of 55.2 bscf sales gas, 2.2 mm bbls of condensate, and 5.8 mm boe of liquid petroleum gas1, as efficiently as possible.

1 Based on an independent review of contingent resources by ERCE, an independent qualified reserves auditor, and prepared for the Company in June 2020 in accordance with National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities and the Canadian Oil and Gas Evaluation Handbook ("COGEH"), assuming 90% interest. 2C resource volumes presented represent the sub-class Development Pending, as defined by COGEH, and are presented on an unrisked basis. The main contingencies are non-technical and include the finalisation of the gas sales agreement and project FID. ERCE estimates the chance of development at 90%.

____________________________

For further information, please contact:

Jadestone Energy Inc.

+65 6324 0359 (Singapore)

Paul Blakeley, President and CEO

+44 7392 940 495 (UK)

Dan Young, CFO

+1 403 975 6752 (Canada)

Robin Martin, Investor Relations Manager

ir@jadestone-energy.com

Stifel Nicolaus Europe Limited (Nomad, Joint Broker)

+44 (0) 20 7710 7600 (UK)

Callum Stewart

Simon Mensley

Ashton Clanfield

BMO Capital Markets Limited (Joint Broker)

+44 (0) 20 7236 1010 (UK)

Thomas Rider

Jeremy Low

Thomas Hughes

Camarco (Public Relations Advisor)

+44 (0) 203 757 4980 (UK)

Georgia Edmonds

jse@camarco.co.uk

Billy Clegg

James Crothers

About Jadestone Energy

Jadestone Energy Inc. is an independent oil and gas company focused on the Asia Pacific region. It has a balanced, low risk, full cycle portfolio of development, production and exploration assets in Australia, Indonesia and Vietnam.

The Company has a 100% operated working interest in the Stag oilfield and the Montara project, both offshore Australia. Both the Stag and Montara assets include oil producing fields, with further development and exploration potential. The Company also has a 100% operated working interest in two gas development blocks in Southwest Vietnam, and an operated 90% interest in the Lemang PSC, onshore Sumatra, Indonesia, which includes the Akatara gas field.

In addition, the Company has executed a sale and purchase agreement to acquire an operated 69% interest in the Maari Project, shallow water offshore New Zealand, and anticipates completing the transaction in H1 2021, upon receipt of customary approvals.

Led by an experienced management team with a track record of delivery, who were core to the successful growth of Talisman's business in Asia, the Company is pursuing an acquisition strategy focused on growth and creating value through identifying, acquiring, developing and operating assets in the Asia Pacific region.

Jadestone Energy Inc. is listed on the AIM market of the London Stock Exchange. The Company is headquartered in Singapore. For further information on Jadestone please visit www.jadestone-energy.com.

Cautionary statements

Certain statements in this press release are forward-looking statements and information (collectively "forward- looking statements"), within the meaning of the applicable securities legislation. The forward-looking statements contained in this press release are forward-looking and not historical facts.

Some of the forward-looking statements may be identified by statements that express, or involve discussions as to expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of phrases such as "will likely result", "are expected to", "will continue", "is anticipated", "is targeting", "estimated", "intend", "plan", "guidance", "objective", "projection", "aim", "goals", "target", "schedules", and "outlook"). In particular, forward-looking statements in this press release include, but are not limited to, statements regarding the timing for completion of the Lemang acquisition and the timing to conclude a gas sales agreement for the Lemang gas development.

Because actual results or outcomes could differ materially from those expressed in any forward-looking statements, investors should not place undue reliance on any such forward-looking statements. By their nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, which contribute to the possibility that the predicted outcomes will not occur. Some of these risks, uncertainties and other factors are similar to those faced by other oil and gas companies and some are unique to Jadestone. Whilst the Company believes the expectations reflected herein to be reasonable in light of the information available to them at this time, the actual outcome may be materially different owing to factors beyond the Company's control or within the Company's control where, for example, the Company decides on a change of plan or strategy. Accordingly, no reliance may be placed on the figures contained in such forward- looking statements. The forward-looking information contained in this news release speaks only as of the date hereof. The Company does not assume any obligation to publicly update the information, except as may be required pursuant to applicable laws.

The oil, natural gas and natural gas liquids information in this announcement has been prepared in accordance with National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities and the Canadian Oil and Gas Evaluation Handbook (the "COGE Handbook").

A barrel of oil equivalent ("boe") is determined by converting a volume of natural gas to barrels using the ratios of six thousand cubic feet ("Mcf") to one barrel. Boes may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf:1 boe is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilising a conversion on a 6:1 basis may be misleading as an indication of value.

The technical information contained in this Presentation has been prepared in accordance with the March 2007 guidelines endorsed by the Society of Petroleum Engineers, World Petroleum Congress, American Association of Petroleum Geologists and Society of Petroleum Evaluation Engineers Petroleum Resource Management System.

Henning Hoeyland of Jadestone Energy Inc., Group Subsurface Manager with a Masters degree in Petroleum Engineering who is a member of the Society of Petroleum Engineers and who has been involved in the energy industry for more than 19 years, has read and approved the technical disclosure in this regulatory announcement.

The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation No. 596/2014, and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

Glossary

2C resources unrisked best estimate scenario of contingent resources
bscf billion standard cubic feet
mm bbls million barrels of condensate
mm boe million barrels of oil equivalent

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Jadestone Energy Inc.

ReleaseID: 620529

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO, ON / ACCESSWIRE / December 10, 2020 / Pelangio Exploration Inc. (TSXV:PX)(OTC PINK:PGXPF) ("Pelangio" or the "Company") is pleased to announce that it has closed the final tranche of the non-brokered private placement previously announced on November 16, 2020 and November 24, 2020, and December 3, 2020 (the "Offering"). In this final tranche, the Company raised aggregate gross proceeds of $970,800 (the "Final Tranche") by issuing 6,650,000 hard dollar units (the "HD Units") at a price of $0.13 per HD Unit and 625,294 common shares of the Company issued on a flow-through basis (the "FT Shares") at a price of $0.17 per FT Share. The total gross proceeds of the Offering, including the funds raised as part of the first tranche closed on December 3, 2020, consists of $2,211,700.

Each HD Unit consists of one common share of the Company (a "Common Share") and one Common Share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Common Share at a price of $0.18 for a period of two years from December 3, 2020 (the "Initial Closing Date"). The FT Shares will qualify as "flow-through shares" (within the meaning of the Income Tax Act (Canada)).

The gross proceeds from the sale of the FT Shares will be used to incur qualifying Canadian Exploration Expenses. Qualifying expenses are to be incurred by no later than December 31, 2021 for renunciation to investors of FT Shares in the Offering effective December 31, 2020. The balance of the proceeds of the Offering will be used to advance the Company's gold exploration projects in Ghana, and for general corporate and working capital purposes.

In connection with the closing of the Second Tranche, the Company paid finder's fees to Canaccord Genuity Corp., PI Financial Corp., Leede Jones Gable Inc., Raymond James Ltd. and Zuri-Invest AG., each arm's length finders, consisting of an aggregate of $48,230.00 in cash and an aggregate of 364,000 non-transferrable warrants ("Finder Warrants"). Each Finder Warrant entitles the holder to purchase one Common Share at a price of $0.18 for a period of two years from the Initial Closing Date.

The purchase of HD Units and FT Shares pursuant to the Offering by Ingrid Hibbard (President, CEO, and a director of the Company) and David Mosher (a director of the Company) (collectively, the "Related Parties") constituted a "related party transaction" as such term is defined by Multilateral Instrument 61-101 -Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company was exempt from the MI 61 101 valuation and minority approval requirements for related party transactions in connection with the Offering under sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the Related Parties, exceeds 25% of the Company's market capitalization (as determined under MI 61-101).

All securities issued in the Final Tranche of the Offering, including the Finder Warrants, are subject to a statutory hold period expiring on April 11, 2021. The Offering remains subject to final acceptance by the TSX Venture Exchange.

PROJECT UPDATES

Ghana Project Update – Dankran and Manfo Projects

The Dankran Prospecting License, which was under application by BNT Resources Ghana Ltd., the vendor of the property to Pelangio Exploration, has now been issued and duly signed by the Minister of Lands and Natural Resources, Ghana. A program of community engagement was completed on the property and a planned soil sampling program commenced on December 1, 2020 with 27% of a planned initial 1,200 sample program completed to date. It is anticipated that the soil sampling program will be completed by year-end with all assays received by mid January. With favourable results, Pelangio intends to commence an initial drill test of gold in soil anomalies anticipated to begin in late January.

Exploration and resource extension drilling programs planned for Pelangio's Manfo project could commence after initial programs are completed at Dankran, contingent upon the Dankran results. With exceptional results, Dankran could become the near-term focus for exploration activity in Ghana.

Canadian Project Update – Grenfell Property, Ontario

In late October 2020, the Company completed a follow-up drill program consisting of five holes (see Pelangio news release dated September 22, 2020 for further details). All logging and sampling was completed on October 25, 2020, and samples were submitted for analysis. A substantial backlog at assay labs in Timmins has held up the receipt of results, and Pelangio is still awaiting final results for the entire program. However, these results will be published in a timely fashion upon receipt and review of all assay data.

Hailstone Property, Saskatchewan

Currently, the Company is awaiting lab results from its recently completed till sampling program on the Asbell target area. A ground induced polarization ("IP") survey was initiated on December 10, 2020 to better define potential targets related to gold occurrences, magnetic survey data and preliminary till sample data. A full report on all of the recent work on the property will be published upon completion of the IP survey and receipt of outstanding till sample analysis. Based on these results, a first-phase drill program is planned for the property in early 2021.

Neither 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.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdictions in which such offer, solicitation or sale would be unlawful. Any offering made will be pursuant to available prospectus exemptions and restricted to persons to whom the securities may be sold in accordance with the laws of such jurisdictions, and by persons permitted to sell the securities in accordance with the laws of such jurisdictions.

About Pelangio

Pelangio acquires and explores world-class gold belt land packages Ghana, West Africa and Canada. In Ghana, the Company is exploring its two 100% owned camp-sized properties: the 100 km2 Manfo Property, the site of seven near-surface gold discoveries, and the 284 km2 Obuasi Property, located 4 km on strike and adjacent to AngloGold Ashanti's prolific high-grade Obuasi Mine, as well as the newly optioned Dankran property located adjacent to its Obuasi property. In Canada, the Company is currently focused in Ontario on its Grenfell property, located 10 km from Kirkland Lake, at its Dome West property, situated some 800 meters from the Dome Mine in Timmins and is advancing its Hailstone property in Saskatchewan. See www.pelangio.com for further detail on all Pelangio's properties.

For additional information, please visit our website at www.pelangio.com, or contact:

Ingrid Hibbard, President and CEO
Tel: 905-336-3828 / Toll-free: 1-877-746-1632 / Email: info@pelangio.com

Forward Looking Statements

Certain statements herein may contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking statements or information appear in a number of places and can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information include statements regarding the Offering generally, the proposed use of proceeds and the Company's exploration plans. With respect to forward-looking statements and information contained herein, we have made numerous assumptions, including assumptions about the state of the equity markets. Such forward-looking statements and information are subject to risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Such risks include receipt of final approval for the Offering from the TSX Venture Exchange, the Company's ability to conduct our exploration programs as planned, changes in equity markets, share price volatility, volatility of global and local economic climate, gold price volatility, political developments in Ghana, increases in costs, exchange rate fluctuations, speculative nature of gold exploration and other risks involved in the gold exploration industry. See the Company's annual and quarterly financial statements and management's discussion and analysis for additional information on risks and uncertainties relating to the forward-looking statement and information. There can be no assurance that a forward-looking statement or information referenced herein will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Also, many of the factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward-looking statements or information. We undertake no obligation to reissue or update any forward-looking statements or information except as required by law. All forward-looking statements and information herein are qualified by this cautionary statement.

SOURCE: Pelangio Exploration Inc.

ReleaseID: 620500