Mich Resources Announces Stock Option Grant

MICH RESOURCES LTD.

SUITE 3123 – 595 BURRARD STREET

VANCOUVER, BC V7X 1J1

TEL: 604-609-6110

MICH RESOURCES ANNOUNCES STOCK OPTION GRANT

October 27, 2020 CSE – MICH

Vancouver, British Columbia – Mich Resources Ltd. (CSE – MICH) (the “Company”) announces that

an aggregate of 1,525,000 incentive stock options have been granted to directors, officers, consultants and

charitable organizations at a price of $0.27 per share, exercisable for a period of 10 years, subject to CSE

approval.

The Company further reports that Frank Giustra and his related entities have acquired stock op tions

pursuant to the aforementioned grant, as well as a recent acquisition of common shares of the Company in

the public market. T he acquisition of 250,000 stock options by The Giustra Foundation (a charitable

organization controlled by Mr. Giustra) represents 11.76% of the issued and outstanding stock options of

the Company and the acquisition of 600,000 common shares by Radcliffe Corporation (a company owned

by Mr. Giustra) represents 1.77% of the issued and outstanding common shares of the Company.

Following these acquisitions, Mr. Giustra has indirect ownership and/or control over an aggregate of

5,400,000 common shares of the Company representing 15.89% of the issued and outstanding common

shares of the Company and would have indirect ownership and/or control over an aggregate of 5,650,000

common shares representing 16.51% on a partially diluted basis, assuming the exercise of the 250,000

stock options . The Company has been advised that Mr. Giustra and his related entities acquired these

securities for investment purposes and will be disclosed in an Early Warning Report to be filed on

SEDAR. Mr. Giustra may in the future acquire or dispose of securities of the Company, through the

market, privately or otherwise, as circumstances or market conditions warrant.

On behalf of Mich Resources Ltd.

“Mark T. Brown”

Chief Executive Officer

For more information, please contact:

Szascha Lim

CFO & Corporate Secretary

Tel: 604.609.6110

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

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

accuracy of this release.