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Kanadario Announces Warrant Amendment

Share Capital & Compensation

KANADARIO GOLD INC.

200 Burrard Street, Suite 1680

Vancouver, British Columbia, V6C 3L6

Tel: (604) 678-5308

www.kanadariogold.com

Kanadario Announces Warrant Amendment

Vancouver, BC – January 23, 2020 – Kanadari o Gold Inc. (TSXV: KANA) (the “ Company” or

“Kanadario”) announces that it has made an application to the TSX Venture Exchange to amend

the terms of up to 3,000,000 common share purch ase warrants issued January 31, 2019, each

currently exercisable at a price of $0.15 until January 31, 2020 (the “ Warrants”). The Company

proposes to amend the terms of the outstanding Warrants, effec tive at the clos e of business on

January 31, 2020, by increasing the exercise price of the Warrants to $0.19 and extending the term

of the Warrants to January 31, 2021 (the “Amendment”).

The Amendment is subject to the final approval of the TSX Venture Exchange, as well as written

consent of the holders of the Warrants. Any Warra nt holder who wishes to exercise Warrants on

their initial terms may do so on or before January 31, 2020 by following the Warrant exercise

instructions included in the Warrant certificate.

Securityholders with inquiries regarding their Warrants or the Amendment are encouraged to

contact the Company at 1(855) 584-0258 or [email protected] at any time.

ON BEHALF OF THE BOARD OF DIRECTORS,

Dominic Verdejo

President and CEO

For more information, please contact 1(855) 584-0258 or [email protected].

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.

Forward-Looking Statements

This press release contains forward- looking information or forward-looking statements (collectively "forward-

looking information") within the meaning of applicable securities laws. Forward-looking information is typically

identified by words such as: "believe", "expect", "an ticipate", "intend", "estimate", "potentially" and similar

expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any

forward-looking information provided by the Company is not a guarantee of future results or performance, and that

actual results may differ materially from those in forward-looking information as a result of various factors. The

reader is referred to the Company's pu blic filings for a more complete discussion of such risk factors and their

potential effects which may be accessed through the Company's profile on SEDAR at www.sedar.com.