Etruscus Closes Oversubscribed Private Placement Financing

ETRUSCUS CLOSES OVERSUBSCRIBED

PRIVATE PLACEMENT FINANCING

June 3, 2020

Vancouver, BC: Etruscus Resources Corp. (CSE: ETR) (FSE: ERR) (the “Company”

or “Etruscus”) announces that, further to its news release on May 27, 2020, the Company

has closed its oversubscribed non-brokered private placement for total gross proceeds of

$306,250, consisting of 1.225 million units. The proceeds will be used for both exploration

and general working capital.

Each unit was issued at a price of $0.25 and consists of one common share and one

share purchase warrant exercisable at a price of $0. 40 per share, entitling the holder to

purchase one additional common share for a 2-year period.

The Company paid a total of $525 in finder’s fees at a rate of 7% of the portion of the

funds raised by Leede Jones Gable Inc.

The securities issued and issuable pursuant to the foregoing are subject to resale

restrictions expiring 4 months and a day from the date of issuance.

This news release does not constitute an offer to sell or a solicitation of an offer to buy

any of the securities in the United States. The securities have not been and will not be

registered under the United States Securities Act o f 1933, as amended (the “U.S.

Securities Act”) or any state securities laws and may not be offered or sold within the

United States or to U.S. Persons unless registered under the U.S. Securities Act and

applicable state securities laws or an exemption from such registration is available.

About Etruscus

Etruscus Resources Corp. is a Vancouver -based exploration company focused on the

development of its 100% -owned Rock & Roll and Sugar properties comprising 2 7,136

hectares, situated 7 km from the past producing Snip mine in Northwest B.C.’s prolific

Golden Triangle.

Etruscus is traded under the symbol “ETR” on the Canadian Securities Exchange and

“ERR” on the Frankfurt Stock Exchange and currently has 22,453,501 shares issued and

outstanding.

On behalf of the Board of Directors:

/s/ “Gordon Lam”

Chief Executive Officer, President and Director

For further information:

Tel: 604-336-9088

Email: [email protected]

Web: www.etruscusresources.com

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This Press Release may contain statements which constitute ‘forward -looking’ statements, including

statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or

its officers with respect to the future business activities and operating performance of the Company. The words

“may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar

expressions, as they relate to the Company, or its management, are intended to identify such forward-looking

statements. Investors are cautioned that any such forward-looking statements are not guarantees of future

business activities or performance and involve risks and uncertainties, and that the Company’s future

business activities may differ materially from those in the forward-looking statements as a result of various

factors. Such risks, uncertainties and factors are described in the periodic filings required by the Canadian

securities regulatory authorities, including quarterly and annual Management’s Discussion and Analysis,

which may be viewed at www.sedar.com. Should one or more of these risks or uncertainties materialize, or

should assumptions underlying the forward -looking statements prove incorrect, actual results may vary

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

expected. Although the Company has attempted to identify important risks, uncertainties and factors which

could cause actual results to differ materially, there may be others that cause results not to be as intended,

planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume

any obligation, to update these forward-looking statements.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE)

accepts responsibility for the adequacy or accuracy of this release.