Rainy Mountain Royality Corp. Brunswick Project Optioned to Pursuit Gold Corp.

RAINY MOUNTAIN ROYALTY CORP.

News Release No. 20-03

RAINY MOUNTAIN ROYALITY CORP. BRUNSWICK PROJECT OPTIONED TO PURSUIT GOLD CORP.

Vancouver, British Columbia - January 26, 2021 – Rainy Mountain Royalty Corp. (‘RMO-TSXV’ or “Rainy”) has entered into an Option agreement with Pursuit Gold Corp. (“Pursuit” or the “Optionee”), whereby Pursuit has the right to earn up to a 90 percent interest in the Brunswick, 173 claim cell property, by completing the following steps and obligations. The Property is subject to a 2 percent NSR held by the underlying vendors M. Tremblay and F. Santamaria (“Original Vendors”).

TERMS

1. Payment to Rainy of $30,000, (completed).

2. Payment of $25,000 by September 15, 2021

3. Payment of $25,000 by September 15, 2022

4. A firm expenditure commitment of $100,000, as part of completing an expenditure of $200,000 by Sept. 30, 2021

5. A further expenditure of $350,000 for a cumulative total of $550,000 by September 30, 2022, which will earn Pursuit a 51% interest in the Property.

6. In order to earn an additional 29%, for a total of 80% interest in the Property, the optionee must pay $50,000 by September 30, 2023 and a further $50,000 by September 30, 2024 and make exploration expenditures of $400,000 by September 30, 2023 and a further $500,000 by September 30, 2024 for a cumulative total of 1.450.000. Upon Pursuit earning an 80% interest in the property, Rainy will be granted a 1.5% Net Smelter Return (“NSR”) which shall be under the same terms as the Underlying Royalty to the original vendors, save that Pursuit shall have the right to reduce said NSR to 0.5% by the payment of $1,000,000.

7. An additional 10 percent interest may be earned by the optionee by completing a bankable feasibility study. This would then leave Rainy with a 10 percent carried interest and the NSR.

The Brunswick property is 6 miles long or 9.6 kms and 3.5 km wide and fills the total distance from the east to west boundary of Brunswick Twp. The Ridout Fault and parallel structures extend across the full length of the property and numerous gold showings occur in the carbonate altered mafic volcanics. Conglomerate marker beds of Timiskaming Age follow the Ridout Fault which is an extension of the Larder Lake Break extending west from the Kirkland Lake area and Larder Lake gold camp. The future exploration plan is to complete IP surveys and lines to cover the remaining 3.2 km of strike length not previously covered and to continue follow up on untested gold showings and their extensions.

This news release has been reviewed and approved by the company’s QP Robert S. Middleton, PEng.

ON BEHALF OF THE BOARD OF DIRECTORS

For further information, contact Sean Charland at 604-681-1568, or visit the Company’s website at www.rmroyalty.com.

Rainy Mountain Royalty Corp.

“Sean Charland”

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Sean Charland, Interim Chief Executive Officer

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The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward- looking statements. Forward-looking statements in this news release include, but are not limited to, the effective date of the Consolidation. Any number of factors could cause actual results to differ materially fi- om these forward- looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

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.