OCG.TO · 2019-10-25 12:00:00

Outcrop Gold Closes Private Placement

Financings

News Release

January 6 th, 2019 – Vancouver, BC – Outcrop Gold Corp. (TSXV: OCG ) (“Outcrop” or the

“Company”) is pleased to announce that it has closed its non- brokered private placement announced on

October 25th , 2019 and modified on October 30th , 2019 when the placement would be limited to

currently needed funding or no more than $1,250,000 in order to reduce share dilution.

Each Unit consists of one common share (“ Common Share”) and one common share purchase warr ant

(“Warrant”). Each Warrant entitles the holder to acquire one Common Share at a price of $0.20 until

November 7, 2024.

Outcrop raised a total of $1,112,000, issuing 11,120,000 units at $0.10. Each unit had a full five year

warrant exercisable at $0.20, expiring on November 7, 2014. The placement was undersubscribed upon

close, but Outcrop Gold shares have recently seen intraday highs of $0.14 and the Company thinks

additional funds for working capital and continuing to drill Santa Ana may be raised at higher unit prices.

$6,030.00 CAD was paid in Finder’s Fees and 48,300 broker warrants entitling the holder to acquire one

Common Share at a price of $0.20 until November 7, 2024 was also paid in connection with part of the

placement.

About Outcrop Gold

Outcrop is a gold prospect generator active in Colombia acquiring gold exploration projects with world-

class discovery potential. Outcrop performs its own grass roots exploration and then employs a joint

venture business model on its projects to maximize investor exposure to discovery and minimize financial

risk

ON BEHALF OF THE BOARD OF DIRECTORS

Joseph P Hebert, Chief Executive Officer

Tel: +1-775-340-0450

www.outcropgoldcorp.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of

the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain information

contained herein constitutes “forward- looking information” under Canadian securities legislation. Forward-

looking information includes, but is not limited to, statements with respect to the Transaction and the compl etion

thereof and the Company’s ownership interest in the Property upon completion of the Transaction. Generally,

forward-looking information can be identified by the use of forward- looking terminology such as “potential”, “we

believe”, or variations of such words and phrases or statements that certain actions, events or results “will” occur.

Forward-looking statements are based on the opinions and estimates of management as of the date such statements

are made and they are subject to known and unknown risk s, uncertainties and other factors that may cause the

actual results, level of activity, performance or achievements of Outcrop to be materially different from those

expressed or implied by such forward- looking statements or forward- looking information, including: the receipt of

all necessary regulatory approvals for completion of the transaction, the results of exploration work, the availability

of financing to fund exploration, local regulations and approvals and other factors. There can be no assurance that

such statements will prove to be accurate, as actual results and future events could differ materially from those

anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking statements

and forward- looking in formation. Outcrop will not update any forward- looking statements or forward- looking

information that are incorporated by reference herein, except as required by applicable securities laws.