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EFF.V ·

Gespeg Resources Ltd. Announces NAME Change

Corporate Actions

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES NOR FOR

DISSEMINATION IN THE UNITED STATES

For Immediate Release

GESPEG RESOURCES LTD. ANNOUNCES NAME CHANGE

Saskatoon, Saskatchewan, December 29, 2020 - GESPEG RESOURCES LTD. (TSX -V: GCR) (the

“Company” or “Gespeg”) announces that effective on or about January 7, 2021, the Company’s name will change

from “Gespeg Resources Ltd.” to “1844 Resources Inc.” . The company is chan ging through a mutual agreement

with the elected band council and the elected Chief Terry Shaw of the Gespeg community of the Mi’kmaq nation

situated at the east end of the Peninsula a few kilometers from Gaspé. It has been an honor to represent the Gespeg

name across the country and around the world for the past 8 years, and the Company will continue to represent the

region with its new name, 1844 Resources Inc.

1844 Resources Inc. was selected due to its association with the first exploration and geological survey of the Gaspé

Peninsula, completed in the year 1844 by Sir William Edmond Logan, a Montreal born geologist and the founder

and first director of the Geological Survey of Canada.

The Company’s common shares will begin trading on the TSX Venture Exchange on or about January 7, 2021

under the new name and the trading symbol for the Company will change from “GCR” to “EFF”. The new CUSIP

will be 68288L103and the new ISIN number will be CA68288L1031. The share capital of the Company remains

unchanged.

About Gespeg Resources Inc.:

Gespeg is an exploration company with a focus in strategic and energetic metals and underexplored regions

“Gaspé, Chibougamau Québec”. With a dedicated management team, the Company’s goal is to create shareholder

value through the discovery of new deposits.

GESPEG RESOURCES LTD.

Press-release 20-20

(signed) “Sylvain Laberge”

Sylvain Laberge

President and CEO

514.702.9841

[email protected]

Some of the statements contained in this press release are forward -looking statements and information within the

meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of

words such as “expects”, “int ends”, “is expected”, “potential”, “suggests” or variations of such words or phrases,

or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken,

occur or be achieved. Forward -looking statements and information are not historical facts and are subject to a

number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to

differ, and may differ materially, from those expressed or implied by the forward -looking statements contained in

this news release. Accordingly, readers should not place undue reliance on forward -looking statements. The

Company undertakes no obligation to update publicly or otherwise revise any forward -looking statements, except

as may be required by law.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of

the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.