ROCK.V · 2020-02-13 12:00:00

Increases in Value with Rising Gold Price

Corporate Updates

Investment Portfolio of Eros Resources Corp.

VANCOUVER

Feb. 13, 2020

/CNW/ - Eros Resources Corp. (TSX-V: "ERC" "Eros" or the

"Company") is pleased to provide a general corporate update on its activities, aside from the

activities at the Bell Mountain Gold-Silver Project discussed in a news release of

February 6

, 2020.

Eros has been active on multiple fronts, as it expands its interests in both mineral properties and

investments in junior resource companies.

Investment Portfolio

Eros continues to be active with its investment portfolio which, because of its strong focus on gold

exploration companies, has benefited significantly by the recent rise in the gold price. Since the end

of the third quarter of 2019, Eros' portfolio value has enjoyed an increase of approximately

$3,000,000

, while at the same time exiting portions of certain investments to fund the ongoing

operations at Bell Mountain. The Eros portfolio currently holds interests in 23 junior resource

issuers.

Key investments held within the portfolio include:

MAS Gold Corp. ("MAS"). MAS Gold Corp is a junior gold exploration company with a focus on

developing its advanced properties in the La Ronge Gold Belt region of Saskatchewan. Eros

has participated in a number of private placements of MAS, and intends to maintain its

ownership position in MAS going forward.

Owl Capital Corp. ("Owl"). Eros has signed an agreement to sell its interests in the Oro Cruz

and Eastgate properties in

California

and

Nevada

, as well as Eros' holdings share and warrant

holdings of Bullfrog Gold Corp. to Owl in exchange for a 35.9% interest in Owl. The transaction

has not yet been completed. Please refer to Eros' news release of

April 25, 2019

for further

details.

Skeena Resources Limited. ("Skeena"). Skeena is a late stage gold exploration company with

a focus in the Golden Triangle region of British Columbia. With strong exploration results, along

with recent financings and asset sales, Eros believes that Skeena is well positioned for

continued success.

Eagle Plains Resources Ltd. ("EPL"). Eagle Plains is a prospect generator within the junior

resource industry, which has been very active in the La Ronge Gold Belt region of

Saskatchewan. With its business model of staking ground, completing early exploration work,

and then spinning properties out, it remains well positioned with its own investment portfolio and

maintains a strong cash position.

Currently, the overall value of the investment portfolio is in excess of

$7,500,000

Interest in Bell Mountain Gold Deposit,

Nevada

Since receiving notice that the Bell Mountain mining claims were no longer subject to a moratorium

from the Department of the Navy (the "Navy") in the fourth quarter of 2018, Eros began aggressively

pursuing mine permitting on Bell Mountain Gold-Silver Project (see News Release

February 6,

2020

The Preliminary Environmental Assessment of Bell Mountain entered its 30 day public comment

period on

January 31, 2020

. Eros anticipates receiving a "Finding of No Significant Impact" (FONSI)

for the Bell Mountain Gold-Silver Project in 2020 with approval of the Environmental Assessment.

Eros also expects to have various mine operating permits well advanced in 2020.

For more information, please refer to the news release issued on

February 6th, 2020

Interest in SnipGold Corp. Property

Eros retains a 5% interest in the Hemlo West claim block, on the Iskut River property in

British

Columbia

held by Seabridge Gold Inc (through its ownership of SnipGold Corp.), who holds the other

95% interest. The interest was acquired from

Golden Band

. The Company intends to advance its

interests in the property, along with Seabridge Gold Inc.

Hatchet Lake Uranium Property

Eros continues to hold a 29.85% interest in the Hatchet Lake Joint Venture (the "JV").

Denison

Mines

holds the remaining interest and is the operator of the JV. Located 17 kilometres north of the

McClean Lake uranium mill, in the shallow eastern portion of the

Athabasca

basin of

Saskatchewan

the property has boasted significant mineralization in historic drill holes. Eros has received notice of

Denison's proposed work program and has responded that it intends to maintain its interest.

About Eros

Eros Resources Corp. is a Canadian public company. Eros' business objective is the identification,

acquisition and exploration of advanced projects with a North American focus.

Another focus of the Company is to make strategic investments with a global focus and a diverse

commodity base. The Company's expertise in the resource sector supports the selection of these

strategic investments.

On Behalf of the Board of Directors of EROS Resources Corp.

Ronald K. Netolitzky

President & CEO

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.

This news release includes certain forward-looking statements or information that could cause

actual results to differ materially from Eros' plans or expectations. All statements other than

statements of historical fact included in this release, including, without limitation, statements

regarding metallurgical

results and outcomes, any updated technical report, are forward-looking

statements that involve various risks and uncertainties. There can be no assurance that such

statements will prove to be accurate and actual results and future events could differ materially

from those anticipated in such statements.

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause

actual events, level of activity, performance or results to differ materially from those reflected in

the forward-looking statements, including, without limitation: risks relating to the actual results of

current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and

delays, cost overruns, that Eros may lose or abandon its property interests or may fail to receive

necessary licences and permits, availability of capital and financing and general economic, market

or business conditions.

The forward-looking statements included in this news release are made as of the date hereof and

Eros disclaims any intention or obligation to update or revise any forward-looking statements,

whether as a result of new information, future events or otherwise, except as expressly required by

applicable securities legislation.

SOURCE

Eros Resources Corp.

View original content:

http://www.newswire.ca/en/releases/archive/February2020/13/c5494.html

%SEDAR: 00006156E

For further information:

EROS Resources Corp., Suite 420 - 789 West Pender Street, Vancouver,

British Columbia, Canada, V6C 1H2, T: 604-688-8115, w: www.erosresourcescorp.com; For more

information, please contact: Lubica Keighery, VP Corporate Development, c: 778-889-5476

CO: Eros Resources Corp.

CNW 13:57e 13-FEB-20

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