VMXX.V · 2020-09-28 12:00:00

SolidusGold Announces Private Placement

Financings

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED

STATES

VANCOUVER, British Columbia, Sept. 28, 2020 -- SolidusGold Inc. (the “ Company”) announces a non-brokered private

placement of up to 5,555,555 units of the Company (“ Units”) at a price of $0.09 per Unit for total gross proceeds of up to

$500,000 (the “Private Placement ”). Each Unit will consist of one common share of the Company (a “ Solidus Share “) and

one common share purchase warrant exercisable for twenty-four (24) months at a price of $0.12 per Solidus Share. The Private

Placement will complete on or about October 9, 2020.

All securities issued in connection with the Offering will be subject to a hold period of four months and a day from the date of

closing. The net proceeds from the Offering will be used for the evaluation of potential acquisition transactions, including land

and legal due diligence reviews, for general working capital and administrative expenses. To demonstrate continued support of

the Company's growth plans, certain insiders of the Company will participate in the Private Placement. Such participation is

considered a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security

Holders in Special Transactions (" MI 61-101 "). The related party transaction will be exempt from minority approval and

valuation requirements pursuant to the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair

market value of the securities to be issued under the Private Placement nor the consideration to be paid by the insiders will

exceed 25% of the Company's market capitalization.

For more information on the Company please contact SolidusGold Inc.

Forward Looking Statements:

This news release contains forward-looking statements and forward-looking information within the meaning of applicable

securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”,

“project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or

statements. In particular, this news release contains forward-looking information relating to the Offering and the use of the

proceeds therefrom. The forward-looking statements and information are based on certain key expectations and assumptions

made by the Company, including expectations and assumptions concerning the completion of the Offering and the use of net

proceeds of the Offering. Although the Company believes that the expectations and assumptions on which such forward-

looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking

statements and information because the Company can give no assurance that they will prove to be correct.

Since forward-looking statements and information address future events and conditions, by their very nature they involve

inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of

factors and risks. Such factors may include the failure to successfully market the Units and failure to satisfy certain conditions

in connection with the issuance of the Units. Other factors which could materially affect such forward-looking information are

described in the risk factors in the Company’s most recent annual management’s discussion and analysis that is available on

the Company’s profile on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive.

The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward

-looking statements and information contained in this news release are made as of the date hereof and the Company

undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new

information, future events or otherwise, unless so required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the

TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Sorin Posescu, Chief Executive Officer