FMN.V · 2020-07-27 12:00:00

Fidelity Minerals Announces Closing of Private Placement Financing

Financings

Vancouver, BC, August 10 th, 2020 – Fidelity Minerals Corp. (TSX-V: FMN | FSE: S5GM | SSE:

MNYC) (“Fidelity Minerals” or the “ Company”) is pleased to announce that it has closed the non -

brokered private placement (the “Private Placement”) previously announced in its News Release dated

July 27, 2020, as increased in its News Release dated August 4, 2020.

For the Private Placement, the Company issued a total of 7,668,121 units (each, a “Unit”) at $0.06 per

Unit for gross procee ds of $ $460,087. Of the total Units issued, 5,015,583 Units were subscribed by

Lions Bay Capital Inc., a Control Person, and 1,286,538 Units were subscribed by management. Each

Unit consists of one common share (each, a “Share”) and one transferable share purchase warrant (each,

a “Warrant”) with each Warrant exercisable into an additional common share at $0.07 per share until

August 10, 2022. The securities issued pursuant to the Private Placement are subject to a four month

hold period that expires on December 11, 2020. Finders’ fees totalling $2,938 were paid relating to the

Private Placement . T he Company intends to use the net proceeds of the Private Placement for

corporate working capital purposes.

The Private Placement is subject to final approval of the TSX Venture Exchange.

About Fidelity Minerals Corp.

Fidelity Minerals Corp. is assembling a portfolio of high -quality mining assets in Peru through the

implementation of our Strategic Project Generator (SPG) model. The project generator model involves

the identification and acquisition of appraisal stage op portunities with near -term valuation catalysts,

including potential for high-impact M&A. The company is backed by an experienced management team

with diverse technical, market, and commercial expertise and is supported by committed and

sophisticated investors focused on building long term value.

On behalf of the Board of Fidelity Minerals;

Ian Graham

CEO and Director

Tel: +1.604.671.1353

Investor Contact:

Bahay Ozcakmak

Executive Chairman

Tel: +61.414.596.007

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 NEWS

RELEASE.