Corsurex Resource Corp. Provides Cease Trade Order Update

Vancouver, British Columbia / July 21, 2020 – Corsurex Resource Corp. (the “Company”) (CSE:CRC), announces that, further to its news releases dated June 15, 2020, June 29, 2020, and July 14, 2020 it is providing an update with respect to the previously announced management cease trade order (the “MCTO”) issued by the British Columbia Securities Commission on June 16, 2020.

Due to the timing of receiving certain documents from Guyana, the completion of the Company’s audit has taken longer than expected and the Company anticipates that the BC Securities Commission will issue a cease trade order (“CTO”) as a result of the failure to file annual financial statements with the related MD&A and officer certificates.

The Company is continuing to work with the auditor to complete the filing and anticipates filing all required documents by Wednesday July 29, 2020. The revocation of the CTO would then occur shortly following the filing of the 2019 annual filings.

Once the annual filings have been completed, the Company’s interim financial statements for March 31, 2020 will be filed on Thursday July 30, 2020.

The Company is providing this status update in accordance with National Policy 12-203 Management Cease Trade Orders ("NP 12-203"). The Company intends to follow the provisions of the Alternative Information Guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases, for as long as the Company remains in default. The Company confirms as of the date of this news release that there has been no material change in the information contained in the default announcement issued on June 16, 2020 and there is no other material information concerning the affairs of the Company that has not been generally disclosed.

ON BEHALF OF THE BOARD OF DIRECTORS

Christopher Cherry, CFO and Director E: [email protected]

Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.