Generic Gold Announces Upsizing of Fully Subscribed Private Placement to up to $7 Million

Generic Gold Announces Upsizing of Fully Subscribed Private

Placement to up to $7 Million

Toronto, Ontario, July 27, 2020 - Generic Gold Corp. (“Generic Gold” or the “Company”) (CSE: GGC, FRA:

1WD) is pleased to announce, further to its press release of July 16, 2020, the upsize of its fully subscribed

“best efforts” private placement offering, led by StephenAvenue Securities Inc. (the “Agent”) as sole agent

and sole bookrunner (the “ Offering”), for aggregate gross proceeds of up to $7,000,000, through t he

issuance of units (each, a “Unit”) at a price of $0.35 per Unit and flow-through units (each, a “FT Unit”) at

a price of $0.40 per FT Unit (together, the Units and the FT Units, the “Offered Securities”).

The net proceeds from the sale of the Units will be used for general working capital and exploration

purposes. The gross proceeds from the sale of the FT U nits will be used by the Company to incur eligible

"Canadian exploration expenses" that will qualify as "flow -through mining expenditures" (as such terms

are defined in the Income Tax Act (Canada)) (the "Qualifying Expenditures") related to the Company's

projects in Canada. All Qualifying Expenditures will be renounced in favour of the subscribers of the FT

Units effective December 31, 2020. It is anticipated that most of the funds derived from the sale of the FT

Units will be used to explore the Company’s recently acquired Belvais project which is contiguous to Amex

Exploration Inc. (refer to the Company’s press release of July 7, 2020).

The Offering is expected to close on or about August 6 , 2020 (the “Closing Date”), or such other date as

agreed between the Company and the Agent. The completion of the Offering is subject to certain closing

conditions including, but not limited to, the receipt of all necessary regulatory and other approvals

including the approval of t he Canadian Securities Exchange. All Offered Securities will be subject to a

statutory hold period of four months and one day from the Closing Date.

The Offered Securities have not been and will not be registered under the U.S. Securities Act of 1933, as

amended, and may not be offered or sold in the United States absent registration or an applicable

exemption from the registration requirements. This press release shall not constitute an offer to sell or

the solicitation of an offer to buy nor shall there be any sale of the Offered Securities in any State in

which such offer, solicitation or sale would be unlawful.

About Generic Gold

Generic Gold is a Canadian mineral exploration company focused on gold projects in the Abitibi

Greenstone Belt in Quebec, Canada and Tintina Gold Belt i n the Yukon Territory of Canada. The

Company's Quebec exploration portfolio consists of three properties covering 8,148 hectares proximal

to the town of Normétal and Amex Exploration’s Perro n project . The Company's Yukon exploration

portfolio consists of several projects with a total land position of greater than 35,000 hectares, all of

which are 100% owned by Generic Gold. Several of these projects are in close proximity to significant

gold projects, including Goldcorp's Coffee project, Victoria Gold's Eagle Gold project, White Gold's

Golden Saddle project, and Western Copper & Gold's Casino project. For information on the Company's

property portfolio, visit the Company's website at genericgold.ca.

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For further information contact:

Generic Gold Corp. StephenAvenue Securities Inc.

Richard Patricio, President and CEO Daniel Cappuccitti

Tel: 416-456-6529 Tel: 416-479-4478

[email protected] [email protected]

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR THEIR REGULATION SERVICES PROVIDERS ACCEPT

RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEAS E.

Certain statements in this press release are "forward-looking" statements within the meaning of Canadian securities

legislation. All statements, other than statements of historical fact, included herein are forward-looking information.

Forward-looking statements are necessarily based upon the current belief, opinions and expectations of management

that, while considered reasonable by the Company, are inherently subject to business, economic, competitive,

political and social uncertainties and other contingencies. Many factors could cause the Company's actual results to

differ materially from those expressed or implied in the forward-looking statements. Accordingly, readers should not

place undue reliance on forward- looking statements and forward -looking information. The Company does not

undertake to update any forward- looking statements or forward- looking information that are incorporated by

reference herein, except in accordance with applicable securities laws. Investors are cautioned not to put undue

reliance on forward-looking statements due to the inherent uncertainty therein. We seek safe harbour.