Mr. Darrell Rader reports

MINAURUM DISCOVERS ZINC-RICH CARBONATE-REPLACEMENT (CRD) MINERALIZATION AT ALAMOS

Minaurum Gold Inc. has discovered zinc-rich carbonate-replacement (CRD)/skarn mineralization associated with the Promontorio and Promontorio Sur epithermal silver-zinc-lead-copper-gold veins at its 100-per-cent-owned, fully production-permitted Alamos silver project in the state of Sonora, Mexico.

Relogging of existing drill core with a focus on strategic metals outlined a continuous 2.4-kilometre-long zone of zinc-rich CRD-style mineralization and skarn alteration developed in recrystalized limestone beneath high-grade silver veins in the Promontorio and Promontorio Sur zones. The CRD mineralization was never targeted but was cut coincidentally at the bottom of several holes. Drill holes with the strongest CRD mineralization include:

• Hole AL19-020: 3.21 per cent zinc (Zn) and 1.05 per cent lead (Pb) over three metres;
• Hole AL19-024 (800 m southwest of AL19-020): 1.73 per cent Zn and 3.98 per cent Pb over 0.20 m;
• Hole AL19-025 (250 m northeast of AL19-020): 2.18 per cent Zn and 0.62 per cent Pb over 7.75 m.

"Recognizing that Alamos hosts CRD mineralization in addition to our existing high-grade silver veins, creates a significant new target for us," stated Darrell Rader, president and chief executive officer of Minaurum Gold. "While carbonate rocks are known throughout the project area, CRD mineralization has never been directly targeted. We're especially excited by what's been found so far because it lies immediately adjacent to the Promontorio where we hope to block out a resource. We are adding these CRD targets to our upcoming drill program, slated to start as soon as we complete the current financing."

"Many of Mexico's biggest epithermal vein camps, including Fresnillo and Santa Barbara, show extensive development of zinc-lead-silver CRD and skarn mineralization where the veins cross limestone. In most cases, these manifest as relatively flat-lying sheets (mantos) of massive sulphides that locally sprout off the veins," said Dr. Peter Megaw, co-founder and adviser to Minaurum. "We have strong indications of this along nearly 2.5 km of some of the district's main veins. These represent great places to start applying modern CRD exploration approaches to this system."

CRD mineralization cut so far at Alamos is characterized by zinc and lead sulphides that replace recrystalized limestone in the footwall of the Promontorio and Promontorio Sur vein zones. These veins are emplaced along and parallel to north-northeast faults that juxtapose andesitic agglomerate, recrystallized limestone and granodiorite. Intersections of this footwall carbonate-replacement mineralization were reported along with vein mineralization in Minaurum Gold's news release dated Aug. 22, 2019 (see the table entitled "Drill intersections from holes that cut footwall replacement mineralziation, Promontorio and Promontorio Sur veins"), but not pursued due to the company's focus on silver and gold.

Lower Cretaceous limestone is the oldest geological unit known at the Alamos project, stratigraphically underling the Tertiary andesitic volcanic rocks that are the principal epithermal vein hosts. Limestone crops out extensively on the property in fault-bounded blocks, and drilling has revealed considerable thicknesses of limestone under the volcanics. The limestone is folded, so thickness ranges from a few tens of metres to an estimated 400 metres. The district was intruded by Laramide granodiorite and granite, so the limestone is nearly always strongly recrystallized. In many areas, particularly those adjacent to the Promontorio and Alessandra vein zones, it is skarn altered and mineralized, suggesting blind CRD mineralization may be more widely developed throughout the district.

About Minaurum Gold Inc.

Minaurum is a Mexico-focused explorer concentrating on the high-grade 100-per-cent-owned fully production permitted Alamos silver project in southern Sonora. Minaurum is managed by one of the strongest technical and finance teams and will continue its founders' legacy of creating shareholder value to develop and acquire a pipeline of potential Tier 1 precious metals projects. Through a portfolio containing silver projects totalling 37,928 hectares, gold projects totalling 25,933 hectares and copper projects totalling 12,856 hectares, Minaurum provides significant exposure to precious and base metals.

Data review and verification

Stephen R. Maynard, vice-president of exploration for Minaurum and a qualified person (QP) as defined by National Instrument 43-101, reviewed and verified the assay data, and has approved the disclosure in this news release. Verification was done by visual inspection of core samples and comparison with assay results. Assay results have not been checked by reanalysis. No factors were identified that could materially affect the accuracy or reliability of the data presented in this news release.

Analytical procedures and quality assurance/quality control (QA/QC)

Preparation and assaying of drilling samples from Minaurum's Alamos project are done with strict adherence to a quality assurance/quality control protocol. Core samples are sawed in half and then bagged in a secure facility near the site, and then shipped by a licensed courier to ALS Minerals' preparation facility in Hermosillo, Sonora, Mexico. ALS prepares the samples, crushing them to 70 per cent less than two millimetres (mm), splitting off 250 grams (g) and pulverizing the split to more than 85 per cent passing 75 microns. The resulting sample pulps are prepared in Hermosillo, and then shipped to Vancouver for chemical analysis by ALS Minerals. In Vancouver, the pulps are analyzed for gold by fire assay and ICP-AES (inductively coupled plasma atomic emission spectroscopy) on a 50-gram charge. In addition, analyses are done for a 48-element suite using four-acid digestion and ICP analysis. Samples with silver values greater than 100 grams per tonne, and copper, lead or zinc values greater than 10,000 parts per million (ppm) (1 per cent), are reanalyzed using four-acid digestion and atomic absorption spectrometry (AAS).

Quality-control samples are inserted in the sample stream every 20 samples, and thus represent 5 per cent of the total samples. QC samples include standards, blanks and duplicate samples. Standards are pulps that have been prepared by a third party laboratory -- they have gold, silver and base-metal values that are established by an extensive analytical process in which several commercial labs (including ALS Minerals) participate. Standards test the calibration of the analytical equipment. Blanks are rock material known from prior sampling to contain less than 0.005 ppm gold -- they test the sample preparation procedure for cross-sample contamination. In the case of duplicates, the sample interval is cut in half, and then quartered. The first quarter is the original sample, the second becomes the duplicate. Duplicate samples provide a test of the reproducibility of assays in the same drilled interval.

When final assays are received, QC sample results are inspected for deviation from accepted values by the qualified person. To date, QC sample analytical results have fallen in acceptable ranges on the Alamos project.

ALS Minerals is independent of Minaurum Gold and is independent of the qualified person.

We seek Safe Harbor.