Idaho Champion Gold Mobilizes Second Core Rig to Champagne Project

Idaho Champion Gold Mobilizes Second Core Rig

to Champagne Project

Second Drill to Focus on New Target Areas

Outside Past Producing Pit

Toronto, ON – October 27, 2020 - Idaho Champion Gold Mines Canada Inc. (CSE: ITKO)

(OTCQB: GLDRF) (FSE: 1QB1)(“Champion” or the "Company"), announces an update

regarding its 2020 exploration program at the Champagne Gold Project in Idaho, USA.

As part of the 5,000 metre drilling program (see press release dated: August 19, 2020),

Champion has mobilized a second core rig to focus on new target areas identified

between and around the two past-producing open pits.

“Since adding an additional drill rig at Champagne in September, our technical team

has identified favorable geology and alteration in the holes that have been drilled and

logged so far. Our geologists have also developed additional targets peripheral to

the historic open pits from mapping, sampling, and analysis of historic prospects and

reports. By adding this additional drill rig even before assay results are returned, we

can maximize our opportunity to assess these targets before the onset of winter,”

stated Jonathan Buick, President and CEO.

Champion further announces the completion of the 2020 exploration program at the

Baner Project, near Elk City, Idaho. The Baner drill program completed 13 holes for

a total of 2,200 metres. While winter weather influenced the early termination of

drilling, logging and sampling of the drill core continues. The team has been

encouraged by the geology and alteration encountered at Baner and the Company

looks forward to the receipt of exploration results, including analysis of drill core,

during the fourth quarter.

About the Champagne Project

The Champagne Mine* was operated by Bema Gold as a heap leach operation on a high

sulfidation gold system that occurs in volcanic rocks. Bema Gold drilled 72 shallow reverse

circulation holes on the project, which complement drilling and trenching from other

previous operators. The property has had no deep drilling or significant modern exploration

since the mine closure in early 1992.

The Champagne Deposit contains epigenetic style gold and silver mineralization that

occurs in strongly altered Tertiary volcanic tuffs and flows of acid to intermediate

composition. Champagne has a near surface cap of gold-silver mineralization emplaced

by deep-seated structures that acted as conduits for precious metal rich hydrothermal

fluids. Higher grade zones in the Champagne Deposit appear to be related to such feeder

zones.

* The Company cautions that the information about the past-producing mine may not be

indicative of mineralization on Champion’s property, and if mineralization does occur, that

it will occur in sufficient quantity or grade that would result in an economic extraction

scenario. The historic data were simply used to evaluate the prospective nature of the

property. The Company has not yet conducted sufficient exploration to ascertain if a

mineral resource is present on the property.

Qualified Person

The technical information in this press release has been reviewed and approved by Peter

Karelse P.Geo., a consultant to the Company, who is a Qualified Person as defined by NI

43-101. Mr. Karelse has more than 30 years of experience in exploration and development.

About Idaho Champion Gold Mines Inc.

Idaho Champion is a discovery-focused gold exploration company that is committed to

advancing its 100% owned highly prospective mineral properties located in Idaho, United

States. The Company’s shares trade on the CSE under the trading symbol “ITKO”, on the

OTCQB under the trading symbol “GLDRF”, and on the Frankfurt Stock Exchange under

the symbol “1QB1”. Idaho Champion is vested in Idaho with the Baner Project in Idaho

County, the Champagne Project located in Butte County near Arco, and four cobalt

properties in Lemhi County in the Idaho Cobalt Belt. Idaho Champion strives to be a

responsible environmental steward, stakeholder and a contributing citizen to the local

communities where it operates. Idaho Champion takes its social license seriously,

employing local community members and service providers at its operations whenever

possible.

ON BEHALF OF THE BOARD

“Jonathan Buick”

Jonathan Buick, President and CEO

For further information, please visit the Company’s SEDAR profile at www.sedar.com or

the Company’s corporate website at www.idahochamp.com.

For further information please contact:

Nicholas Konkin, Marketing and Communications

Phone: (416) 477 7771 ext. 205

Email: [email protected]

THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY

ANY SECURITIES IN ANY JURISDICTION, NOR SHALL THERE BE ANY OFFER, SALE, OR SOLICITATION OF

SECURITIES IN ANY STATE IN THE UNITED STATES IN WHICH SUCH OFFER, SALE, OR SOLICITATION WOULD BE

UNLAWFUL.

Cautionary Statements

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for

the adequacy or accuracy of this press release This press release may include forward-looking information within the

meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based

on certain key expectations and assumptions made by the management of the Company. Although the Company believes

that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue

reliance should not be placed on the forward-looking information because the Company can give no assurance that they

will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press

release. The Company disclaims any intent or obligation to update publicly any forward looking information, whether as a

result of new information, future events or results or otherwise, other than as required by applicable securities laws.