DEEP-NR36-PP-and-Mgmt-Changes

Page 1 of 1 | DeepRock Minerals Inc. | #500 – 666 Burrard Street, Vancouver, BC V2Y 2Y9

DeepRock Minerals Announces Changes to the Board and Executive

Management and a new Non-Brokered Financing

December 23, 2020 - Vancouver, British Columbia CSE:DEEP

DeepRock Minerals Inc. (“DeepRock” or the “Company”) announces changes to its board of directors

and management. Matthew Reams has resigned as interim chief financial officer (“CFO”) and director,

Richard Shatto has resigned as interim chief executive officer (“CEO”) but will remain a director. The

Company is pleased to announce the appointment of Andrew Lee as CEO and director, and welcomes

Roger Baer as CFO.

The Company would like to thank Mr. Reams for his many years of service and wish him the best in his

future endeavours.

Mr. Andrew Lee has been working with public companies for the past 15 years. Andrew has served as a

director or officer of resource companies with projects globally including a gold project in Ecuador and a

phosphate project in Guinea-Bissau, West Africa. Currently, Andrew is the CEO and director of Phoenix

Gold Resources Corp., a TSX Venture company focused on gold exploration in Nevada, USA.

Mr. Roger Baer, CPA, CMA has over 30 years of progressive accounting and financial management

experience gained mostly with large and mid-sized multinational mining companies including Newmont,

Rio Tinto, Alacer Gold, Thompson Creek Metals, Excelsior and Cyprus Amax. He has particular

expertise in the oil & gas and construction industries gained through previous roles at Newcastle

Construction and other large mine construction projects, as well as accounting, audit and compliance

consulting engagements at Performance Food Group, CH2M Hill, MarkWest Energy Partners, Orica

Mining Services, Lafarge Construction, and Bill Barrett Corp.

The Company also announces it will be conducting a non-brokered private placement of up to $500,000

through the sale of 10,000,000 units (a “Unit”) at $0.05 each (the “Offering”). Each Unit will be

comprised of one common share and one common share purchase warrant with an exercise price of $0.05

per share for a period of 24 months. The Company intends to use the proceeds of the Offering for

acquisition of mineral properties and for general working capital. All securities issued under the private

placement will be subject to a four-month hold. A finder’s fee may be paid in connection with the

financing.

For more information, please contact:

Richard Shatto, Director

Telephone: (604) 807-6334

Email: [email protected]

The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain “forward-

looking statements”, which are statements about the future based on current expectations or beliefs. For this p urpose, statements of historical fact

may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no

assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements.