Norse GOLD Corp. Announces Appointment of New President, Cancellation of Financing and Grant of Stock Options

NORSE GOLD CORP.

Vancouver, B.C., Canada July 30, 2020

NEX Symbol: VKG.H

NEWS RELEASE

NORSE GOLD CORP. ANNOUNCES APPOINTMENT OF NEW

PRESIDENT, CANCELLATION OF FINANCING AND GRANT OF

STOCK OPTIONS

Norse Gold Corp. (formerly Troy Energy Corp. ) (the "Corp oration" or " Norse") announces the

appointment of Car l Verley as President and Chief Executive Officer of the Corporation effective

immediately.

Mr. Verley is a graduate of the University of British Columbia where he received his Bachelor of

Science Degre e He has been a self -employed geologist since 1982. He has also served on

numerous public company boards and has extensive experience working in the Northwest

Territories. He is a registered Professional Geoscientist with the British Columbia Association

of Professional Engineers and Geoscientists and Northwest Territories and Nunavut Association

of Professional Engineers and Geoscientists. Mr. Verley’s professional practice ranges from

project generation, project management through NI43 -101 compliance wor k. He has expertise

gained through work in a variety of geological environments with a wide spectrum of

commodities, including base, precious and special metals, iron, diamonds and industrial minerals

Richard Wingate has resigned as President and CEO to pursue other business interests. He will remain as

a Director of the Corporation.

The Corporation also announces that it s private placement financing announced on May 20, 2020

consisting of up to 10,000,000 shares totaling $350,000 has been cancelled.

The Corporation al so announces that it has granted stock options of 900,000 common shares to officers

and directors. The options are exercisable at $0.05 per share and expire in five years. The grant of options

is subject to regulatory approval.

Forward Looking Statements

Except for statements of historical fact relating to the Corporation, certain information contained herein

constitutes forward -looking statements. Forward -looking statements are based on the opinions and

estimates of management at the date the statements are made, and are subject to a variety of risks and

uncertainties and other factors that could cause actual events or results to differ materially from those

projected in the forward -looking statements. The Corporation undertakes no obliga tion to update

forward-looking statements if circumstances or management 's estimates or opinions should change. The

reader is cautioned not to place undue reliance on forward-looking statements.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Carl Verley –Norse Gold Corp.

President and Chief Executive Officer

Phone: (604-616-8299)

James Owen, Norse Gold Corp.

Chief Financial Officer

Phone: (250) 465-1806

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 the

release.