Alliance Mining Purchases 100% Ownership Tiberius Gold Corp Bissett Gold Mine Camp Manitoba

May 12, 2020 TSX.v: ALM

News release

Alliance Mining Purchases 100% Ownership

Tiberius Gold Corp

Bissett Gold Mine Camp

Manitoba

Vancouver, British Columbia: Alliance Mining Corp. (TSX.V: ALM) (“Alliance” or the

“Company”) is pleased to announce it has made the final two payments of $250,000.00 each by

issuing 10 million common shares of its capital to Tiberius Gold Corp. Alliance has now

completed all payments to acquire 100 per cent of Tiberius's property located in the Bissett Gold

mine camp in Manitoba. Under the agreement, Alliance earned a 100-per-cent interest in the

property by making certain staged cash payments and/or share payments of common shares in

the capital of Alliance to Tiberius over a four-year period equal to a total of $1.25million as

follows: (i) $250,000 in cash and/or common shares on or before 90 days of the TSX Venture

Exchange's approval of the transaction; (ii) $250,000 in cash and/or common shares on or before

the first anniversary of the approval date; (iii) $250,000 in cash and/or common shares on or

before the second anniversary of the approval date; $250,000 in cash and/or common shares on

or before the third anniversary of the approval date; and $250,000 in cash and/or common shares

on or before the fourth anniversary of the approval date.

Alliance Mining has now purchased 100 per cent interest in the Red Rice Lake property located

in the Bissett gold camp in Manitoba. The property is located close to the town of Bissett, Man.,

and just four kilometres south of the True North gold mine which its current owner 1911 Gold

Corp ( Formerly Klondex Mines) has just recommenced operations reprocessing tailings..

The Red Rice Lake gold property claims are located within the Archean Rice Lake greenstone

belt in southeastern Manitoba. This belt forms part of the Uchi sub province that includes the

Red Lake and Pickle Lake belts in Northwestern Ontario

ON BEHALF OF THE BOARD

Allan Beaton

Director

FOR FURTHER INFORMATION PLEASE CONTACT:

Alliance Mining Corp.

(604) 488-3900

Investor Relations: 604-488-3900

E-mail: [email protected]

This press release includes certain statements that may be deemed “forward -looking statements”. All statements in this release, other than

statements of historical facts, that address future exploration drilling, exploration activities and events or develo pments that the Company

expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are

based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ

materially from those in forward -looking statements. Factors that could cause actual results to differ materially from those in forward -looking

statements include exploitation and exploration successes, continued a vailability of financing, and general economic, market or business

conditions.

Neither 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.

Alliance Mining Corp.

888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4