Regency Gold Announces Appointment of Nathani and Stecyk as Directors Regency Gold to Defend Notice of Civil Claim

REGENCY GOLD CORP.

NEWS RELEASE

REGENCY GOLD ANNOUNCES APPOINTMENT OF NATHANI AND STECYK AS DIRECTORS

REGENCY GOLD TO DEFEND NOTICE OF CIVIL CLAIM

Vancouver, BC, August 22, 2019 – Regency Gold Corp (“Regency” or the “Company”) (NEX:RAU.H) announces that Mr. Aleem Nathani and Mr. Brian Stecyk have been appointed to the Company’s Board of Directors effective immediately.

Mr. Stecyk has an extensive background in both communications and also corporate and political networking and public relations. He operates a successful advertising and public relations firm that has been operating for over 36 years. In addition to marketing and communications, Mr. Stecyk strengths include strategic management and planning. For several years, he was a member of the Canadian Association of Professional Speakers.

With 15+ years in Corporate & Business Development experience, Mr. Nathwani has been a part of several early stage transformational teams with successful exits in emerging technologies, cannabis, and the capital markets space. Most recently, Mr. Nathwani was one of the early employees at Nutanix (NASDAQ: NTNX), pioneers in hyper-converged infrastructure & enterprise cloud, where he played key roles driving business development. Previous to that, Mr. Nathwani held strategic leadership roles with TELUS Communications, in driving technology infrastructure outsourcing deals for large enterprise customers, helping grow their portfolio to $100M+. Mr. Nathwani holds a Bachelor of Commerce, major in Management Information Systems, from the Sauder School of Business at the University of British Columbia.

Concurrent with the appointments of Mr. Nathani and Mr. Stecyk, Harold Punnett and Robert Pilz have resigned as directors of the Company in order to pursue other opportunities. The Company wishes to thank them for their years of service and support and wish them the best in their future endeavors.

In addition, the Company reports that it as been served with a notice of civil claim (the “Claim”) filed on July 24, 2019 with the Supreme Court of British Columbia by Vanadium North Resources Inc. (“Vanadium North”) naming Regency as a defendant. The Claim relates to the Company’s termination (the “Termination”) of the share exchange agreement dated February 8, 2019 (the “Agreement”), with Vanadium North and its shareholders, pursuant to which the Company has agreed to acquire all of the issued and outstanding common shares of Vanadium North, previously announced in a news release of Regency dated July 17, 2019. The Claim alleges that the Termination did not occur in accordance with the Agreement.

The Company asserts that there is no basis for this allegation and will vigorously defend itself against these allegations, and maintains that the Termination occurred in accordance with the Agreement.

The service of the Claim to the Company, notwithstanding the date of filing, occurred after Company provided notice on July 26, 2019 to Vanadium North that it intended to enforce its security against the loan of $150,000 provided by Regency to Vanadium North.

Suite 1703, Three Bentall Centre, 595 Burrard Street Vancouver, BC, V7X 1J1 LEGAL_31656177.1

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Company not proceeding with acquisition of V23

The Company announces that the non-binding letter of intent (the “LOI”) entered into with CellCube Storage Systems Inc. dated December 12, 2018, previously announced in a news release of Regency dated January 24, 2019, pursuant to which the Company would acquire V23 Resources Corp. (“V23”), had lapsed effective April 1, 2019. The Company does not anticipate extending the LOI and is no longer pursuing the acquisition of V23.

ON BEHALF OF THE BOARD OF DIRECTORS

“Kelsey Chin”

Kelsey Chin Chief Financial Officer

For further information, please contact +1 604-719-5614

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

Statements contained in this news release that are not historical facts constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities laws and are based on expectations, estimates and projections as of the date of this release. Forward-looking statements include, without limitation, possible events and statements with respect to possible events. The words “is expected” or “estimates” or variations of such words and phrases or statements that certain actions, events or results “may” or “could” occur and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. All of the forward-looking statements made in this release are qualified by these cautionary statements and those made in our other filings with the securities regulators in Canada. These factors are not intended to represent a complete list of the factors that could affect the Company. Although the Company believes that the expectations in the forward-looking statements are reasonable, actual results may vary, and future results, levels of activity, performance or achievements cannot be guaranteed.