St. James Gold Closes Private Placement

Vancouver, British Columbia—December 4, 2020 – St. James Gold Corp. (TSXV: LORD) (the “Company”) is pleased to announce that it has closed its non-brokered private placement announced on October 22, 2020 by issuing 2,000,000 Units (as defined below) at a price of $0.12 per Unit for proceeds of $240,000 (the “Offering”).

Each Unit Consists Of one common share and one common share purchase warrant (“Warrant”), with each Warrant entitling the holder to purchase one additional common share at $0.12 per share for a period of one (1) year from the date of issue.

All securities issued under the Financing are subject to a statutory four month hold period in British Columbia and additional US hold periods on those acquired by US residents.

The proceeds of the financing will be used for due diligence of potential Mineral Property acquisitions being reviewed by the Company.

For more information, please contact:

George Drazenovic

Phone: 1 (800) 278-2152 Email: [email protected]

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control in particular, the fact that the Company is reviewing potential mineral property acquisitions is not an assurance that a suitable acquisition will be found. Even if the Company is successful in making an acquisition, it may require additional financing to carry out exploration and development objectives on the property. Such other factors include, obtaining the necessary permits to carry out its activities and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

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