Canadian GoldCamps Announces AGSM Results and Provides Update on Asset Sale to MegumaGold

Canadian GoldCamps Announces AGSM Results and Provides Update on Asset

Sale to MegumaGold

Toronto, Ontario – February 4, 2021 – Canadian GoldCamps Corp. (formerly, Supreme Metals Corp.)

(“Canadian GoldCamps”, or the “ Company”) (CSE: CAMP) (FSE: A68) is pleased to announce that all

matters submitted to the shareholders for approval as set forth in the Company’s Notice of Meeting and

Information Circular, both dated January 5, 2021, were approved unanimously with 100% of the votes cast

in favour of all matters put forth at the Company’s Annual General and Special Meeting (the “Meeting”) held

on Friday, January 29, 2021.

Pursuant to the previously announced asset purchase agreement dated January 4, 2021 (the “Agreement”,

see press release dated January 6, 2021) Canadian GoldCamps will sell to MegumaGold Corp.

(“MegumaGold”) all of its Canadian assets and the associated working capital in exchange for securities of

MegumaGold (the “Transaction”), that it intends to distribute directly to its shareholders. The Transaction

sees substantially all of Canadian GoldCamp’s assets transferred to MegumaGold. The closing of the

Transaction remains subject to the completion of all applicable documentation to affect the transfer of the

Canadian assets to MegumaGold. Upon completion of the Transaction, the Company will focus on its

interest in South America.

The sale price for the Company's Canadian assets will be comprised of 1.1 shares of MegumaGold for

each one (1) issued and outstanding share of Canadian GoldCamp as of November 16, 2020 (the

“Exchange Ratio”). In addition, all outstanding options and warrants of Canadian GoldCamps that have not

been duly exercised prior to the closing of the Transaction (the “Closing Date”) will be exchanged for options

and warrants, as the case may be, of MegumaGold, after giving effect to the Exchange Ratio and otherwise

on the same terms and conditions as were applicable to such options and warrants immediately before the

Closing Date. Securities which are distributed to Canadian GoldCamps’ shareholders will be subject to a

total of a four-month and one-day hold period from the date of closing of the transaction.

The Company also advises that Ms. Vicki Rosenthal resigned in advance of the Meeting; the Company

wishes to thank Ms. Rosenthal for her contributions to the Company and wishes her well with her other

endeavours.

Canadian GoldCamps interim CEO Brendan Purdy commented: “The synergies between the MegumaGold

and the GoldCamps asse ts creates a unique situation for investors through a consolidated Atlantic

Canadian portfolio with real exposure to three growing gold districts in Nova Scotia, New Brunswick and

Newfoundland. All three of the jurisdictions have recently seen major discoveries and development work

which has lead to a rejuvenation of gold mining and exploration on the east coast of Canada. The combined

assets compliment one another in building the critical mass necessary for accretive entry into emerging

gold camps across eastern Canada.”

About Canadian GoldCamps Corp.

Canadian GoldCamps is a Canadian based exploration company focused on acquiring prospective

properties and making new gold discoveries in established gold camps in Canada, focusing on Ontario and

Quebec. With a long history of mining, excellent infrastructure and a rich geological environment, the

superior geologic province in Ontario and Quebec is one of the best places globally for discovering world-

class deposits.

For further information, please contact:

Canadian GoldCamps

Brendan Purdy, Interim CEO

Tel: 604-687-2038

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the

policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy

of this release.

This news release may contain forward- looking statements based on assumptions and judgments of

management regarding future events or results. Such statements are subject to a variety of risks an d

uncertainties which could cause actual events or results to differ materially from those reflected in the

forward-looking statements. There is no assurance the private placement, property option, change of board

or reinstatement of trading referred to a bove will close on the terms as stated, or at all. The Company

disclaims any intention or obligation to revise or update such statements.