Bullion Gold Cancels Letter of Intent with Vertical Designs (B.C.) Ltd. for a Proposed Reverse Takeover

BULLION GOLD RESOURCES CORP.

1030 West Georgia Street, Suite 1300

Vancouver, BC, V6E 2Y3

Bullion Gold Cancels Letter of Intent with Vertical Designs (B.C.) Ltd. for a Proposed Reverse

Takeover

VANCOUVER, B.C., August 14 , 2020 – Bullion Gold Re sources Co rp. (TSX -V: BGD.H) (the

“Company” or “ Bullion”), previously announced binding letter of intent (the “ Letter of Intent ”)

effective July 8, 2020, between the Company and Vertical Designs (B.C.) Ltd. (“Vertical Designs”) has

been terminated, effective August 14, 2020.

Bullion did not pay any deposit or advance funds to Vertical Designs, nor did it loan Vertical Designs

any funds in connection with the LOI. The LOI was terminated on August 14, 2020, due to the parties not

reaching a definitive agreement pursuant to the terms of the LOI.

Bullion is actively working to identify and evaluate other opportunities for the purpose of completing a

qualifying transaction under policy of the TSX Venture Exchange. Trading of Bullion’s common shares

on the TSX Venture Exchange is expected to resume trading in the coming days.

For further information, please contact the Company at (604) 307-8290

ON BEHALF OF THE BOARD OF DIRECTORS

“Chris Cooper”

________________________________

Chris Cooper

President and CEO

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.

This news release contains forward-looking information, which involves known and unknown risks, uncertainties

and other factors that may cause actual events to differ materially from current expectation. Important factors -

including the availability of funds, the results of financing efforts and the parties’ due diligence reviews and general

market conditions; the parties being able to obtain the necessary corporate, regulatory and other third parties

approvals; and licensing and other risks associated with regulated cannabis entities -- that could cause actual

results to differ materially from the Company's expectations are disclosed in the Company's documents filed from

time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-

looking statements, which speak only as of the date of this press release. The Company disclaims any intention or

obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a

result of new information, future events or otherwise.