KGC.V · 2020-07-21 12:00:00

KESTREL GOLD INC. Provides a Corporate and Operational Update

Mine Development & Operations

NEWS RELEASE

July 21, 2020: Kestrel Gold Inc. (the “Corporation”) (TSX-V: KGC) is pleased to announce the receipt of

a YMEP Target Evaluation grant to help support its 2020 exploration program on the King Solomon Dome

Project (“KSD”). Kestrel has a Class 3 Land Use Permit in place for KSD, allowing for various exploration

activities including soil sampling, trenching and drilling. Preliminary fieldwork will commence prior to the end

of July with a view towards defining targets for a drill test program this fall or next summer pending raising

additional capital.

Under YMEP the Yukon government provides successful grant applicants with funding to support mineral

exploration activities. Kestrel’s application included exploration expenditures of $53,779 which will be

reimbursed by the Yukon government at a rate of 60% of expenditures to a maximum of $32,267. Fieldwork

will consist of prospecting and surface sampling of existing gold and silver soil anomalies with peak values

of 4,000 ppb gold and 30.2 g/t silver. Results of this program will help guide a follow up excavator trenching

and rock sampling program.

King Solomon Dome

KSD is 100% owned by Kestrel and is located in the Yukon portion of the Tintina Gold Belt, 35 minutes

by road south of Dawson City. The target is a high-grade orogenic gold-silver quartz vein system with rock

sample values of up to 32 g/t gold and numerous values of greater than 50 g/t silver. Creeks draining from

the KSD property have produced significant amounts of placer gold. Readers are encouraged to go to the

Company’s website “www.kestrelgold.com” for further information on the property.

Marty Huber P. Geo , a qualified person as defined in National Instrument 43 -101, has reviewed and

approved the technical information contained in this news release.

Forward-Looking Statements

The information and statements in this news release contain certain forward -looking information. This

forward-looking information relates to future events or the Corporation’s future performance. In particular,

this document contains forward-looking information and statements regarding raising additional capital and

carrying out preliminary field work. All statements other than statements of historical fact may be forward-

looking information. This forward-looking information is subject to certain risks and uncertainties and may

be based on assumptions that could cause actual results to differ materially from those anticipated or implied

in the forward -looking information. These assumptions include market acceptance of raising additional

capital. As well, as the Corporation’s actual results, performance or achievement could differ materially

from those expressed in, or implied by, such forward-looking information, and accordingly, no assurances

can be given that any of the events anticipated by the forward -looking information will transpire or occur

or, if any of them do, what benefits that the Corporation will derive from them. The Company’s forward-

looking information is expressly qualified in its entirety by this cautionary statement. Except as required

by law, the Corporation undertakes no obligation t o publicly update or revise any forward -looking

information.

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.

For further information contact:

Rob Solinger, President and CEO

Office: (403) 816-2141