Black Tusk Closes $1,015,000 Flow Through Private P Lacement

BLACK TUSK RESOURCES INC.

500- 666 Burrard Street

Vancouver, BC, V6C 3P6

www.blacktuskresources.com

BLACK TUSK CLOSES $1,015,000 FLOW THROUGH PRIVATE P LACEMENT

July 15, 2020 – Vancouver, British Columbia. Black Tusk Resources Inc. (the “Company ”) (CSE: TUSK)

(Frankfurt: 0NB) (OTCPK: BTKRF) is pleased to annou nce that it has closed a flow through private

placement for gross proceeds of $1,015,000 issuing a total of 3,125,000 flow through common shares at a

price of $0.08 per share and 9,562,500 Units (as defined below) at a price of $0.08 per Unit.

Each Unit consists of one flow-through common share and one half of one share purchase warrant (each

whole warrant a “Warrant”). Each Warrant will enti tle the holder to purchase a non-flow through share at a

price of $0.10 per share for a two-year term (the “ Warrant Term”).

The Company paid finders fees to Roche Securities L td. Leede Jones Gable Inc. and EMD Financial Inc.

consisting of $68,704 cash, 179,400 common shares a nd 679,400 Warrants.

The securities issued will be subject to a four month and one day hold from the date of issuance.

The proceeds from the offering will be for mineral exploration activities in Quebec.

On behalf of the Board of Directors

Richard Penn

CEO

(778) 384-8923

Cautionary Statement

Except for statements of historic fact, this news release contains certain “forward-looking information” within

the meaning of applicable securities law including statements relating exploration program expenditure s.

Forward-looking information is frequently character ized by words such as “plan”, “expect”, “project”,

“intend”, “believe”, “anticipate”, “estimate” and o ther similar words, or statements that certain even ts or

conditions “may” or “will” occur. Forward-looking s tatements are based on the opinions and estimates a t

the date the statements are made, and are subject t o a variety of risks and uncertainties and other fa ctors

that could cause actual events or results to differ materially from those anticipated in the forward-l ooking

statements including, but not limited to delays or uncertainties with regulatory approvals, including that of

the CSE, inability to effectively plan a program, t hird party land claims or failure to obtain permits . There

are uncertainties inherent in forward-looking infor mation, including factors beyond the Company’s cont rol.

There are no assurances that the business plans for the Company as described in this news release will

come into effect on the terms or time frame describ ed herein. The Company undertakes no obligation to

update forward-looking information if circumstances or management’s estimates or opinions should change

except as required by law. The reader is cautioned not to place undue reliance on forward-looking

statements. Additional information identifying risk s and uncertainties that could affect financial res ults is

contained in the Company’s filings with Canadian se curities regulators, which are available at

www.sedar.com.