Regency Announces Change of Management

1

Regency Announces Change of Management

NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA

Vancouver, B.C., February 13, 2020 – Regency Gold Corp. (“ Regency” or the “ Company”) (NEX:

RAU.H) is pleased to announce the appointment of new directors to the board and the appointment of a

new executive management team for the Company. The new team is comprised of Abraham Drost, Chief

Executive Officer and Director, James Gallagher, Executive Chairman and D irector and Dean Chambers,

Director. Ms. Kelsey Chin, will remain in her current capacity as Chief Financial Officer and Corporate

Secretary of the Company.

In connection with the foregoing, the Company announces the resignation of William Radvak as President,

Chief Executive Officer and Director of the Company and the resignations of Aleem Nathwani and Brian

Stecyk as Directors of the Company. The Board of Directors and management would like to thank Messrs.

Radvak, Nathwani and Stecyk for their contributions to the Company and wish them every success in their

future endeavours.

About the New Management Team and Directors

Brief biographies of the members of the newly appointed Board of Directors and management team of the

Company are as follows:

Abraham Drost, M.Sc., P. Geo., CEO and Director – Mr. Drost is a Professional Geoscientist (Ontario)

and a graduate of the University of Waterloo (B.Sc) and Queen's University (M.Sc.). Mr. Drost is a former

President and Director of Sabina Gold and Silver Corp., former President and Director of Gold X Mining

Corp. and former CEO, and Director of Mexican Gold Corp. Mr. Drost is a former Chairman of Premier Gold

Mines USA Inc. and the former CEO and founding Director of Premier Royalty Inc., prior to the sale to

Sandstorm Gold Ltd. He was a former CEO and then Director of Mega Precious Metals Inc. at the sale to

Yamana Gold Inc. Mr. Drost was most recen tly CEO and Director of Carlisle Goldfields Ltd. at the sale to

Alamos Gold Inc. He previously served as Regional Land Use Geologist with the Ontario Geological Survey,

promoting exploration best practises for junior mining companies on aboriginal traditional territories.

James Gallagher, P. En g., Executive Chairman and Director – Mr. Gallagher is a Professional

Engineer and seasoned mining executive with a 35-year track record of optimizing operational performance,

leading successful projects and consulting with global scope. Mr. Gallagher was most recently the President

and CEO of North American Palladium Ltd. ("NAP"). During his 6 year tenure at NAP, Mr. Gallagher rebuilt

the senior management team, introduced advanced technologies and mining methods at the Lac des Illes

Mine and achieved an operational and financial turnaround that made the Lac des Illes Mine one of the

largest and lowest cost underground mines in Canada, culminating in the 2019 sale of NAP for $1 billion to

Impala Platinum. Prior to NAP, Mr. Gallagher spent 24 years with Falconbridge Ltd., in a variety of

operational and project management roles and eigh t years as Global Director of Mining for Hatch, leading

one of the largest mining EPCM teams in North America. Mr. Gallagher is a Director and chair of the Health,

Safety and Technical committee for Harte Gold, serves on the Board of Directors of the Onta rio Mining

Association.

Dean Chambers, P. Eng., ICD.D., Director - Mr. Chambers is a P rofessional Engineer and financial

executive with over 35 years of business, technical and financial experience. In 2017, Mr. Chambers retired

as Executive Vice President and Chief Financial Officer at Sherritt International Corporation, a major

international resource company. Mr. Chambers' career as a senior executive in the mining and chemical

industries also includes progressive positions with The Dow Chemical Company, Falconbridge Limited and

Dynatec Corporation. Most recently, Mr. Chambers served four years on the Board of Directors and chaired

the Audit Committee of North American Palladium Ltd. leading up to its successful sale to Impala Platinum

2

in 2019. Mr. Chambers holds the ICD.D designation from the Institute of Corporate Directors. Mr. Chambers

also serv es on the Industrial Advisory Committee for the Engineering and Management program at

McMaster University.

ON BEHALF OF THE BOARD OF DIRECTORS

"Abraham Drost"

Abraham Drost, Chief Executive Officer of Regency Gold Corp.

For further information, please contact:

Abraham Drost, Chief Executive Officer of Regency Gold Corp.

Phone: 807-252-7800

Email: [email protected]

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE

ADEQUACY OR ACCURACY OF THIS RELEASE.

Cautionary Note

The TSXV has neither approved nor disapproved the contents of this news release.

The information contained herein contains "forward -looking statements" within the mean ing of applicable

securities legislation. Forward -looking statements relate to information that is based on assumptions of

management, forecasts of future results, and estimates of amounts not yet determinable. Any statements

that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events

or performance are not statements of historical fact and may be "forward-looking statements."

Forward-looking statements are subject to a variety of risks and uncertainties whi ch could cause actual

events or results to differ from those reflected in the forward -looking statements, including, without

limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms;

risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and

exploration; risks related to the maintenance of stock exchange listings; risks related to environmental

regulation and liability; the potential for delays in exploratio n or development activities or the completion

of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of

drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty

of production and cost estimates and the potential for unexpected costs and expenses; results of

prefeasibility and feasibility studies, and the possibility that future exploration, development or mining

results will not be consistent wit h the Company's expectations; risks related to gold price and other

commodity price fluctuations; and other risks and uncertainties related to the Company's prospects,

properties and business detailed elsewhere in the Company's disclosure record. Should on e or more of

these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results

may vary materially from those described in forward -looking statements. Investors are cautioned against

attributing undue certainty to forward-looking statements. These forward looking statements are made as

of the date hereof and the Company does not assume any obligation to update or revise them to reflect

new events or circumstances. Actual events or results could differ materially fro m the Company's

expectations or projections.