Damara Announces Approval of Warrant Extension

335 – 1632 Dickson Avenue • Kelowna, BC V1Y 7T2

Phone: (250) 717-3151 • Fax: (250) 717-1845 • www.damaragoldcorp.com

NEWS RELEASE

Damara Announces Approval of Warrant Extension

August 26, 2020 TSX-V: DMR

DAMARA GOLD CORP. (TSX -V:DMR) (“Damara ” or the “Company”), announces further to its news

release of August 10, 2020, it has received the consent of the TSX Venture Exchange to amend the

expiry date of 5,000,000 outstanding share purchase warrants that were issued pursuant to a private

placement completed in August 2017 (the “201 7 Warrants”). As previously announced the 2017

Warrants were to expire on August 31, 2020. The new expiry date for the 2017 Warrants is August

31, 2022 (the “New Expiry Date”). Each 2017 Warrant entitles the holder to purchase one

common share (a "Common Share") in the capital of the Company at a price of $0. 10 per Common

Share until the New Expiry Date.

About Damara

Damara Gold Corp. is a TSX Venture listed Canadian public company with a Board of Directors

seasoned in the mineral exploration industry with extensive and successful international experience

with a focus on identifying and acquiring prospective and under-explored gold properties worldwide.

ON BEHALF OF THE BOARD OF DIRECTORS OF DAMARA

“Larry Nagy”

Larry Nagy, Chief Executive Officer

For additional information visit Damara’s website at www.damaragoldcorp.com or contact:

Damara Gold Corp.

Larry Nagy

Chief Executive Officer or

Terese Gieselman

Chief Financial Officer

Ph: (250-717-3151)

NR: 20-02

Neither the 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.