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DFR.V ·

Fields Resources Inc. (TSX-V:DFR) (“DF R” or the “Company”), on

Corporate Updates

Confirmation of Change of Name to DFR Gold Inc.

Vancouver, B.C. (27 January 2023) – Fur ther to the announcement by Diamond

Fields Resources Inc. (TSX-V:DFR) (“DF R” or the “Company”), on January 24,

2023, of the intention to change its na me to ‘DFR Gold Inc.’, the Company is

pleased to announce that the TSX Vent ure Exchange (the “Exchange”) has

approved the proposed name change to DFR Gold Inc. and all associated

applicable regulatory filings have now been completed.

The name change to DFR Gold Inc. on th e Exchange will be effective on January

30, 2023, and the shares will continue trading under the same symbol “DFR”. The

Company's new CUSIP number is 25241H108 and its new ISIN number is

CA25241H1082. The Company’s new website www.dfrgold.com will be operational

on or around January 30, 2023.

No further action is required by shareh olders with respect to the name change.

There is no change in the share capital of the Company. Certificates representing

common shares of the Company will not be affected by the name and will not need

to be exchanged.

END

Diamond Fields Resources Inc.

John McGloin, CEO

604-283-7185

Contact: [email protected]

Website: www.diamondfields.com

Michael Oke/Andy Mills +44 20 7321 0000

Aura Financial LLP

www.aura-financial.com

Notes to Editors:

DFR is a TSX Venture Exchange listed exploration and mine development company

focused on gold and other commodities in Africa. Following the acquisition of

Moydow Holdings Limited, DFR holds interests in a portfolio of West African gold

exploration projects including the high ly prospective Cascades gold project

(“Cascades”) in Burkina Fa so. Cascades has a Mineral Resource prepared in

accordance with NI 43-101 comprising 5.41 million tonnes of indicated resources

at an average grade of 1.52 g/t Au for a total 264,000 ounces of gold: and 6.93

million tonnes of inferred resources at an average grade 1.67 g/t Au for a total of

371,000 ounces of gold. The report entitled “Diamond Fields Resources Inc. Please

see the Company’s technical report titl ed “Amended and Re-stated Technical

Report on the Labola Project Burkina Faso” dated April 2, 2022 for further

information regarding Cascades.

In Madagascar, DFR has an advanced high grade hard rock zircon exploration

prospect located in the west of the country, approximately 220km east of the port

of Maintirano and close to a state ro ad. DFR acquired Beravina from Pala

Investments and Austral Resources in 2016.

The Company’s public documents may be accessed at www.sedar.com

Neither the TSXV 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.

Forward-Looking Statements:

This release contains certain “forward-looking information” within the meaning of

applicable Canadian securities legislation. All statements other than statements of

historical fact in this release that address activities, events or developments that

DFR expects or anticipates will or may oc cur in the future are forward-looking

statements or information. Often, but not always, forward-looking information can

be identified by the use of words such as “aim”, “aspire”, “strive”, “will”, “expect”,

“intend”, “plan”, “believe” or similar expressions as they relate to DFR. Forward-

looking information is subject to a variet y of risks and uncertainties which could

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

forward-looking information.

There are a number of important factors th at could cause DFR’s actual results to

differ materially from those indicated or implied by forward-looking statements

and information. Such factors include, among others: the ability to obtain requisite

regulatory approvals; commodity prices; the gold exploration and mining industry

in general; the potential impact of the announcement on relationships; including

with regulatory bodies, employees; suppliers, customers and competitors;

changes in general economic, business and political conditions, including changes

in the financial markets; changes in applicable laws; and compliance with

extensive government regulation. Should one or more of these risks, uncertainties

or other factors materialize, or should assumptions underlying the forward-looking

information or statement prove incorrect, actual results may vary materially from

those described herein as intended, planned, anticipated, believed, estimated or

expected.

DFR cautions that the foregoing list of material factors is not exhaustive. When

relying on DFR’s forward-looking statements and information to make decisions,

shareholders should carefully consid er the foregoing factors and other

uncertainties and potential events. DFR has assumed that the material factors

referred to in the previous paragrap h will not cause such forward looking

statements and information to differ materially from actual results or events.

However, the list of these factors is not exhaustive an d is subject to change and

there can be no assurance that such a ssumptions will reflect the actual outcome

of such items or factors. The forward-looking information contained in this release

represents the expectations of DFR as of the date of this release and, accordingly,

is subject to change after such date. Readers should not place undue importance

on forward looking information and should not rely upon this information as of any

other date. While DFR may elect to, it does not undertake to update this

information at any particular time except as required in accordance with applicable

laws.