Hanstone GOLD Provides Update ON Proposed Issuance of Bonus Shares

HANSTONE GOLD PROVIDES UPDATE ON

PROPOSED ISSUANCE OF BONUS SHARES

February 17th, 2021

Hanstone Gold Corp. (TSX.V: HANS, FSE: HGO) (“Hanstone” or the “Company”) is pleased to

provide an update respecting its previously announced proposed issuance of common shares of the

Company as bonus shares (“Bonus Shares”) (see Hanstone’s press release dated January 29, 2021).

Hanstone will now issue 268,000 Bonus Shares to Ray Marks, the Company’s President and CEO.

Hanstone’s board of directors, with Mr. Marks abstaini ng, approved the issuance of the Bonus Shares

to Mr. Marks in recognition of his significant contributions to the Company since completion of the

Company’s “qualifying transaction” on August 19, 2020, which contributions were substantially in

excess of tho se contemplated in his consulting services agreement with the Company . Those

contributions include : constructing the exploration camp at the Doc Property and having it fully

functional despite a late in the season start, unusually adverse weather condition s and the remote and

inaccessible nature of the property; spending 86 days on site to ensure a successful exploration

season; and devoting significantly more than “full time” hours through the 2020 exploration season.

The issuance of the Bonus Shares is s ubject to TSX Venture Exchange (“ TSXV”) acceptance. The

Bonus Shares will be issued at a deemed price of $0.4 0. No new insiders will be created, nor will any

change of control occur, as a result of the issuance of the Bonus Shares. The Bonus Shares will be

subject to a four month hold period pursuant to applicable securities laws. In addition, Mr. Marks has

agreed to enter into a voluntary escrow agreement which will restrict the trading of the Bonus Shares

for one year from the date of issuance. Hanstone has determined that there are exemptions available

from the various requirements of TSX Venture Policy 5.9 and Multilateral Instrument 61 -101 for the

issuance of the Bonus Shares (Formal Valuation - Issuer Not Listed on Specified Markets; Minority

Approval - Fair Market Value Not More Than 25% of Market Capitalization).

About Hanstone:

Hanstone is a precious and base metals explorer with its current focus on the Doc and Snip North

Projects optimally located in the heart of the prolific mineralized area of B ritish Columbia known as the

Golden Triangle. The Golden Triangle is an area which hosts numerous producing and past -producing

mines and several large deposits that are approaching potential development. The Company holds a

100% earn in option in the 1,704 -hectare Doc Project and owns a 100% interest in the 3,336 -hectare

Snip North Project. Hanstone has a highly experienced team of industry professionals with a successful

track record in the discovery of gold deposits and in developing mineral exploration p rojects through

discovery to production.

Ray Marks, President and Chief Executive Officer

For Further Information Contact:

Carrie Howes, Director of Communications+1-778-551-8488, [email protected]; or

Raymond Marks, President & CEO, +1-778-896-7778, [email protected]; or

Bob Quinn, Vice President, +1-713-412-2620, [email protected]

Or visit the Company’s website at www.hanstonegold.com.