Golcap Extends Warrant Expiry

February 1, 2021 CSE Symbol: GCP

GOLCAP EXTENDS WARRANT EXPIRY

Vancouver, BC: Golcap Resources Corp. (CSE: GCP) (the “ Company” or

“Golcap”) is pleased to announce that, subject to CSE approval, it has extended the

expiry period of warrants previously iss ued on April 30, 2020 and June 30, 202 0,

prior to completing its initial public offering on Decem ber 22, 2020 . A total of

3,250,000 warrants exercisable at $0.30 , price unchanged, will now expire on

December 22, 2021.

The Company a lso announce s the appointment of Betty Anne Loy as Corporate

Secretary, replacing Alan Tam who remains as Chief Financial Officer.

On behalf of the Board of Directors

Gordon Lam

President and Chief Executive Officer

Email: [email protected]

Telephone: (604) 675-2011

Website: www.golcapresources.com

The information in this news release includes certain information and statements about management's

view of future events, expectations, plans and prospects that constitute forward looking statements.

These statements are based upon assumptions that are subject to significant risks and uncertainties.

Because of these risks and uncertainties and as a result of a variety of factors, the actual results,

expectations, achievements or performance may differ materially from those anticipated and indicated

by these forward looking statements. Forward-looking statements in this news release include, but are

not limited to, the Company’s proposed use of the proceeds of its initial public offering. Any number

of factors could cause actual results to differ materially from these forward-looking statements as well

as future results. Although the Company believes that the expectations reflected in forward looking

statements are reasonable, it can give no assurances that the expectations of any forward looking

statements will prove to be correct. Except as required by law, the Company disclaims any intention

and assumes no obligation to update or revise any forward looking statements to reflect actual results,

whether as a result of new information, future events, changes in assumptions, changes in factors

affecting such forward looking statements or otherwise.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is

defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy

or accuracy of this release.