Gambier GOLD Announces Private Placement

GAMBIER GOLD ANNOUNCES PRIVATE PLACEMENT

VANCOUVER, BC – October 9, 2020 – Gambier Gold Corp. (TSX-V: GGAU) (the “Company”) is

pleased to announce that it intends to complete a non-brokered private placement to raise gross

proceeds of up to $450,000 (the “Financing”) by way of the issuance of up to 3,000,000 units (the

“Units”) of the Company at a price of $0.15. Each Unit will consist of one common share and

one-half share purchase warrant (the “Warrant”). Each whole Warrant will entitle th e holder to

purchase one additional common share, up to a total of 1,500,000 at an exercise price of $0.20

for a period of two (2) years from the date of closing.

The Corporation will use the net proceeds of the Financing for exploration at its Hemlo and

Detour West (Ontario) gold projects, as well as for working capital purposes.

Shares issued pursuant to the Financing will be subject to a four -month hold period according

to applicable securities laws of Canada.

Finders’ fees may be payable on the private placement, subject to the policies of the TSX Venture

Exchange.

ON BEHALF OF THE BOARD

Michael E. Schuss

President & CEO

For further information, please contact:

Gambier Gold Corp.

Phone: (604) 241-2254

E-mail: [email protected]

Website: www.gambier.gold

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.