SHL.V · 2021-01-04 12:00:00

Results of the Meeting At the Meeting, the shareholders: 1. Appr oved the election of the directors proposed by management of the Company, namely: Marc Askenasi, Colin Bowdidge, Michael Dehn, Zoran Popovic and John Ryan (each director bei ng

Shareholder Meetings

Spruce Ridge Resources Ltd.

7735 Leslie Road West, Puslinch, ON N0B 2J0

Telephone: (519) 822-5904

PRESS RELEASE 2021 - 01 January 4, 2021

pruce Ridge Resources Announces Results of 2020 Annual General

uslinch, ON, January 4, 2021 – Spruce Ridge Resources Ltd. (TSXV: SHL) (“Spruce Ridge” or

the “Company”) is pleased to announce the results of its 2020 Annual general of shareholders (the

“Meeting”) held on December 30, 2020.

Results of the Meeting

the Meeting, the shareholders:

1. Appr

oved the election of the directors proposed by management of the Company, namely: Marc

Askenasi, Colin Bowdidge, Michael Dehn, Zoran Popovic and John Ryan (each director bei ng

ected with over 99.4% of votes cast);

2. Confirmed the re- appointment of S & W LLP, Chartered Professional Accountants as the

Company’s auditor for the upcoming year (approved by over 99.8 % of votes cast);

3. Re-approved the Company’s Stock Option Plan (approved by over 99.5% of votes cast).

About Spruce Ridge Resources Ltd.

pruce Ridge holds a 100% interest in the Great Burnt Copper -Gold Property in Central Newfoundland

which covers a series of copper ± gold rich VMS deposits. Spruce Ridge sold its interest in in the

Crawford Nickel- Cobalt Sulphide project to Canada Nickel Company Inc . but retained ground which

contains VMS and gold targets. Spruce Ridge holds 8,100,000 shares of Canada Nickel Company and

10,000,000 shares of Noble Mineral Exploration Inc. Spruce Ridge has an option agreement with Magna

Terra Minerals Inc. on its Viking/Kramer gold properties in Western Newfoundland.

pruce Ridge common shares trade on the TSX Venture Exchange under the symbol “SHL”.

Neither 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.

For further information please contact:

John Ryan, President and CEO

Spruce Ridge Resources Ltd.

Phone: 519-822-5904