Mexican GOLD Announces Completion of Continuance and NAME Change

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Vancouver, BC

For Immediate Release

TSX-V: MEX

February 10, 2020

MEXICAN GOLD ANNOUNCES COMPLETION OF CONTINUANCE AND NAME CHANGE

Mexican Gold Corp. (the “Company” or “Mexican Gold") (TSXV: MEX) is pleased to announce that it has completed

its previously announced continuation (the “Continuance”) of its incorporation from Ontario to British Columbia

and its name change to Mexican Gold Mining Corp.

In connection with the Continuance and name change, the Company’s trading symbols of “MEX” for its common

shares (the “Shares”) listed on the TSX Venture Exchange (the “Exchange”) and “MEX.WT” for its share purchase

warrants (the “Warrants”) listed on the Exchange will remain unchanged. The CUSIP number assigned to the

Company’s Shares following the name change is 592819106 (ISIN: CA5928191066). The CUSIP number assigned to

the Company’s Warrants following the name change is 592819114 (ISIN: CA5928191140). No action is required to

be taken by shareholders with respect to the name change. Outstanding share certificates are not affected by the

name change and do not need to be exchanged.

The name change to Mexican Gold Mining Corp. was a result of the Continuation from Ontario to BC. As part of

Company’s proposed business combination with New Found Gold Corp, previously announced on January 28,

2020, the Company will further change its name to Bonanza King Gold Corp. on closing of the transaction,

expected on April 30, 2020.

Trading in the Company’s shares will remain halted pending receipt of Exchange approval for the Company’s

proposed business combination with New Found Gold Corp.

About Mexican Gold Corp.

Mexican Gold Corp. is a Canadian based mineral exploration and development company committed to building

long-term value through ongoing discoveries and strategic acquisitions of prospective precious metals and copper

projects in the Americas. Mexican Gold is exploring the Las Minas Project, which is located in the core of the Las

Minas mining district in Veracruz State, Mexico, and is host to one of the newest, under-explored skarn systems

known in Mexico.

For more information, please contact:

Philip O’Neill – CEO, President, and Director

E-mail: [email protected]

Telephone: (604) 638-1428

Website: www.mexicangold.ca

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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.

All statements in this press release, other than statements of historical fact, are "forward-looking information" with

respect to Mexican Gold within the meaning of applicable securities laws. Mexican Gold provides forward-looking

statements for the purpose of conveying information about current expectations and plans relating to the future

and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this

information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the

possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that

assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks

and uncertainties include but are not limited to market conditions, exploration findings, results and

recommendations, as well as those risks and uncertainties identified and reported in Mexican Gold’s public filings

under Mexican Gold’s SEDAR profile at www.sedar.com. Although Mexican Gold has attempted to identify

important factors that could cause actual actions, events or results to differ materially from those described in

forward-looking information, there may be other factors that cause actions, events or results not to be as

anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as

actual results and future events could differ materially from those anticipated in such statements. Mexican Gold

disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of

new information, future events or otherwise unless required by law.