Rjk Announces Debt Settlement

15576526.2

P.O. Box 1053, 4 Al Wende Avenue, Kirkland Lake, ON P2N 3L1 Tel: (705) 568 -7956

RJK ANNOUNCES DEBT SETTLEMENT

Kirkland Lake, Ontario – December 10, 2020 – RJK Explorations Ltd. ( "RJK" or "the Company") (TSXV:

RJX.A, US OTC: RJKAF) announces that, further to its news release of December 1, 2020, it has received

TSX Venture Exchange acceptance of the shares for debt transaction to settle an aggregate of $156,940.86

in indebtedness of the Company owing to Mr. Glenn Kasner, President of RJK, through the issuance of

871,894 Class A Subordinate Voting Shares at a price of $0.18 per Class A Share (the "Settlement Shares").

The Settlement Shares are subject to the statutory hold period of four months and one day.

This debt settlement constitutes a "related party transaction" within MI 61-101 as the Settlement Shares

were issued to an insider of the Company. The issuance of the Settlement Shares to an insider is exempt

from the formal valuation and minority shareholder approval requirements under MI 61-101 pursuant to

subsections 5.5(b) and 5.7(1)(a) as the Company's Class A Shares are not listed on a specified market and

the fair market value of these securities will not exceed 25% of the Company's market capitalization.

Contact Information

Glenn Kasner, President

Mobile: (705) 568-7567

Email: [email protected]

Web Site: https://www.rjkexplorations.com

Company Information: Tel: (705) 568-7445

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.

Forward Looking Information

This news release includes certain forward-looking statements, which may include, but are not limited to, statements

concerning the settlement of outstanding debt. Any statements contained herein that are not statements of

historical facts may be deemed to be forward -looking, including those identi fied by the expressions "will",

"anticipate", "believe", "plan", "estimate", "expect", "intend", "propose" and similar expressions. Forward -looking

statements involve known and unknown risks and uncertainties that could cause actual results, performance, o r

achievements to differ materially from those expressed or implied in this news release. RJK assumes no obligation

to update the forward -looking statements or to update the reasons why actual results could differ from those

reflected in the forward-looking statements except as required by applicable law.