GOLDEN PURSUIT ANNOUNCES RECEIPT OF NI 43-101 REPORT ON GORDON LAKE PROJECT, NWT

Vancouver, B.C., Canada, July 23, 2021 – Golden Pursuit Resources Ltd. (the “Company”)  has filed on the company’s website (www.goldpursuit.ca) a Canadian National instrument 43-101 (NI  43-101) Technical Report for the South Gordon Lake property, located in the Northwest Territories,  Canada. The author of the report is Gary Vivian, M.Sc., P.Geol. and Chairman of Aurora Geosciences  Ltd.  

The property comprises eight historical occurrences of high-grade gold in quartz veins and mineralized  quartz breccia zones. The current mineral tenure has two historical mining leases, fourteen territorial  and thirteen federal claims. The South Gordon Lake property (SGLP) lies 80 kilometres north-northeast  of Yellowknife with GDP owning 100% of these properties with a 1% NSR owed only on the 2 mineral  leases that were optioned in 1996. The total land package is presently 5,909.87 hectares. 

There are eight occurrences covered under the current property ownership, of which five would be  considered historical minor producers. The five minor producers are Burnt Island, Camlaren, DAF, Myrt  Lake and Kidney Pond. Kidney Pond has a well documented history through the 1980’s when the most  significant amount of work was completed. There have been seven types of quartz veins and five types  of quartz-breccia zones identified at the South Gordon Lake property. These occurrences and the  historical information will be used to design an exploration program to evaluate the potential for  mineralization in Archean turbidite stratigraphy. Turbidite hosted deposits have gained much attention  recently from developments by Newfound Gold’s Queensway Project and Kirkland Lake’s Fosterville  Mine in Australia which are turbidite hosted mineralization which may well be analogous to Gordon  Lake. 

Much work has been completed on the SGLP with advanced underground operations occurring on many  of the properties which are described in detail in this submitted report. The initial discoveries of high grade gold veins in the South Gordon Lake area were based upon the discovery of gold in the  Yellowknife area. Prospectors continued to work their way northward from Yellowknife along the  Cameron River traversing their way to the Gordon Lake area. There are a number of prominent quartz  veins in the Gordon Lake area. Clearly, the original discoveries were visual and relied upon identifying  visible gold in surface expressions. Very intense work over the original 7-year period (1937 -1944)  delineated many high-grade gold occurrences but with great variability in size and grade. These gold  veins were all contained within a monotonous sequence of turbidites. Where folding occurred, the

quartz veins were usually much thicker and became the main targets for trenching and drilling.  Exploration was led by the identification of visible gold. Commodity price was a major contributing  factor to tracing these systems at depth. Simply put, grades of 1 ounce per ton of gold were the  expectation. Remoteness and capacity to deliver high-grade gold was the driver. 

It became apparent in the 1950’s, and much more so into the 1980’s, that bedding-parallel shearing in  the host rocks due to constant deformation through folding produced the quartz-breccia zones that  hosted significant gold mineralization. The quartz-breccia zones at Kidney Pond have been extensively  studied and recognized that they occur primarily in black siltstone units. These black siltstone units  contain carbonaceous material that are likely a reactant for dropping gold out of solution. At Kidney  Pond, the quartz breccia zones can be up to 10 metres across in true thickness and grades can be up to 4  grams per tonne gold. 

This genetic model has not been extensively explored for in the South Gordon Lake area. Gordon Lake is  a large lake (41 km X 3.5 Km) with abundant areas of forest, swamp and overburden cover surrounding  the lake. The Company recognizes the need to develop geological and geophysical tools to discover this  type of genetic model under cover. Aurora Geosciences Ltd. of Yellowknife, NT, has been contracted to  

evaluate the historical work and develop an exploration program to systematically evaluate the  potential for economic mineralization at the SGLP. This exploration program will be initiated during the  summer of 2021. 

Qualified Person 

The technical information in this news release has been reviewed and approved by Mr.  Gary Vivian P. Geo., a Qualified Person responsible for the scientific and technical  information contained herein under National Instrument 43-101 standards. 

About Golden Pursuit Resources 

Golden Pursuit Resources is an exploration and project generator company focused on  its portfolio of 15 mineral properties located in Nevada and its district scale holdings of  the Gordon Lake Project, located 80 kms N of Yellowknife NWT. Golden Pursuit  owns100% of all properties. 

On Behalf of the Board of Directors, 

GOLDEN PURSUIT RESOURCES LTD. 

Brian McClay”  

President/CEO 

For further information please contact: 

Investor Relations 

Brian McClay 

Tel: +1 (604) 730.6982 

Email: info@goldpursuit.ca 

Website: https://www.goldpursuit.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts  responsibility for the adequacy or accuracy of this release. 

Forward-Looking Statements 

This news release contains statements that constitute “forward-looking  statements”. Such forward looking statements involve known and unknown risks,  uncertainties and other factors that may cause Golden Pursuit’s actual results,  performance or achievements, or developments in the industry to differ materially from  the anticipated results, performance or achievements expressed or implied by such  forward-looking statements. Forward looking statements are statements that are not  historical facts and are generally, but not always, identified by the words “expects,”  “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar  expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. 

Although Golden Pursuit believes the forward-looking information contained in this news  release is reasonable based on information available on the date hereof, by their nature  forward-looking statements involve assumptions, known and unknown risks, uncertainties  and other factors which may cause our actual results, performance or achievements, or  other future events, to be materially different from any future results, performance or  achievements expressed or implied by such forward-looking statements. 

Examples of such assumptions, risks and uncertainties include, without limitation,  assumptions, risks and uncertainties associated with general economic conditions; the  Covid-19 pandemic; adverse industry events; future legislative and regulatory  developments in the mining sector; the Company’s ability to access sufficient capital from  internal and external sources, and/or inability to access sufficient capital on favorable  terms; mining industry and markets in Canada and generally; the ability of Golden Pursuit  to implement its business strategies; competition; and other assumptions, risks and  uncertainties. 

The forward-looking information contained in this news release represents the  expectations of the company as of the date of this news release and, accordingly, is  subject to change after such date. Readers should not place undue importance on  forward-looking information and should not rely upon this information as of any other  date. While the company may elect to, it does not undertake to update this information  at any particular time except as required in accordance with applicable laws.

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GOLDEN PURSUIT COMPLETES FINANCING

Vancouver, B.C., Canada, December 15, 2020 – Golden Pursuit Resources Ltd. (the “Company”) announces that further to its news releases dated November 11, 2020 and December 7, 2020, the Company has completed a non-brokered private placement financing of 3,425,000 units where each unit comprises of one common share and one share purchase warrant exercisable at $0.30 for two years for an aggregate amount of
$685,000.

The Company has paid a cash commission of $48,000 and granted 240,000 finder’s fee warrants.

All securities issued are subject to a four month hold period which will expire on April 11, 2021.

The Company will not be proceeding the with the investor relations agreement with Derrick Townsend.

GOLDEN PURSUIT RESOURCES LTD.
Per: “Brian McClay”
Brian McClay, President

CONTACT INFORMATION:
Brian McClay
Email: bmcclay@aol.com
Tel: (604) 730-6982

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.

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GOLDEN PURSUIT ANNOUNCES TERMINATION OF STEVENS GOLD JOINT VENTURE


Vancouver, B.C., Canada, December 04, 2020 – Golden Pursuit Resources Ltd. (TSX-V GDP), (the “Company”) announces that it has received notice of termination of its joint venture with Stevens Gold Nevada Inc. (CSE: SG). Recent drilling of 630 meters in 3 reverse circulation holes drilled from August 17 – 24, 2020 resulted in no significant mineralization.

The Company intends to maintain ownership of the Black Point claims located in Eureka County which were the subject of the joint venture. These claims will be included in the portfolio of 11 mineral properties owned 100% by the Company in the State of Nevada. Although the primary focus of Golden Pursuit has now changed to the development of the Gordon Lake District in the NWT where the company owns a total of 6 former producing mining properties located on Gordon Lake, NWT. A NI 43-101 report describing these properties including a detailed future development plan for the district has been commissioned with Aurora Geoscience
Ltd.

GOLDEN PURSUIT RESOURCES LTD.
Per: “Brian McClay”
Brian McClay, President

CONTACT INFORMATION:
Brian McClay
Email: bmcclay@aol.com
Tel: (604) 730-6982

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.

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GOLDEN PURSUIT ANNOUNCES PRIVATE PLACEMENT OF 2,500,000 UNITS @ $0.20

Vancouver, B.C., Canada, November 11, 2020 – Golden Pursuit Resources Ltd. is undertaking a proposed non-brokered private placement of up to 2.5 million units of the company at a price of 20 cents per unit, for aggregate gross proceeds of up to $500,000. Each Unit will be comprised of one common share (a “Common Share”) and one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at a price of $0.30 for a period of eighteen months from the date of issuance. The Units will be offered in each province of Canada pursuant to available prospectus exemptions.

The Company has engaged an exclusive finder in connection with the Offering (the “Finder”). The Company has agreed to pay the Finder a cash commission of 8% of the proceeds of the Offering introduced by the Finder. In addition, the Company has agreed to issue to the Finder compensation options equal to 8% of the number of Units sold to subscribers introduced by the Finder. Each Compensation Option will entitle the holder thereof to purchase a Unit for $0.30 for a period of eighteen months from the date of issuance.

The Company will use the net proceeds of the Offering to fund exploration and development activities at the Gordon Lake Project and WT- Myrt Lake Gold Project and for general administrative and corporate purposes. The offering is subject to regulatory approvals, including conditional acceptance by the TSX Venture Exchange. The securities issued under the Offering have a hold period of four months and one day from the date of issuance.

The company intends to commission a NI43-101 compliant report to list as a “property of merit” and to outline a plan for development of the Gordon Lake and WT projects in the NWT. For further information on these project, please visit the company’s website (www.goldpursuit.ca).

About Golden Pursuit Resources

Golden Pursuit Resources is an exploration and project generator company focused on its portfolio of 15 mineral properties located in Nevada and the development of its recently staked Gordon Lake Project, located 85 kms N of Yellowknife NWT. Golden Pursuit owns100% of all properties with no royalties. The company has a carried 40% interest in a joint venture on its Blackpoint Prospect located 8 kms north of Eureka Nevada and is awaiting assays from a recently completed drill program.

On Behalf of the Board of Directors,

GOLDEN PURSUIT RESOURCES LTD.

Brian McClay

President/CEO

For further information please contact:

Investor Relations

Brian McClay

Tel: +1 (604) 730.6982

Email: info@goldpursuit.ca 

https://www.GoldPursuit.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements”. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Golden Pursuit’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this document include statements concerning Golden Pursuit’s expected use of proceeds of the Offering and all other statements that are not statements of historical fact.

Although Golden Pursuit believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of Golden Pursuit to implement its business strategies; competition; and other assumptions, risks and uncertainties.

The forward-looking information contained in this news release represents the expectations of the company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

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GOLDEN PURSUIT ANNOUNCES ACQUISITION OF 5 HISTORICAL SMALL SCALE MINES/DEPOSITS, GORDON LAKE NWT

View Historical Reports here

Vancouver, B.C., Canada, October 28, 2020 – Golden Pursuit Resources Ltd. (the “Company”) wishes to announce the acquisition of new mineral tenure at Gordon Lake, NWT. The company staked a total of 13 Territorial mineral claims covering 3,532 ha and 12 Federal mineral claims covering 1,686 ha. This new mineral tenure is in addition to company owned mineral leases of 378 ha.. The company has had leases covering the main zones of mineralization at Kidney Pond since 1996.  The new mineral tenure covers a former producing small scale mine known as Camlaren and minor producing small scale advanced projects like Burnt Island, West Bay Mine and Argonaut (tungsten). The properties are located 85 Km northeast of the city of Yellowknife in the Northwest Territories (NWT), Canada with access via the Tibbitt to Contwoyto winter road which traverses the properties. 

Historically, the NWT has been host to some significant gold mines in Canadian history, including:

Con Mine (1938 – 2003) was the first gold mine developed in the Northwest Territories on the south side of Yellowknife and produced over 5 million ounces of gold.

Giant Mine, located on the north side of Yellowknife, produced 7 million ounces of gold. Giant and Con were two of the longest continuous gold mining operations in Canadian mining history.

The historic Discovery Mine is located 85 km NNE of Yellowknife and just 35 km WNW of the Gordon Lake properties. Production from 1949 to 1969 totaled one million oz of gold produced from one million tons of ore. 

The southern Gordon Lake area is underlain by the Archean Yellowknife Supergroup which is locally made up of a turbidite sequence composed predominantly of greywacke, mudstone, siltstone and less abundantly argillite. Gold lode deposits, hosted within shear zones of metavolcanic belts, have produced some of the world’s largest gold mines. Consequently, exploration has focussed on lineaments within these belts. Commonly associated metaturbidite terrains are good exploration targets but a better understanding of structural and lithological ore controls and their genesis is required. Turbidite hosted deposits include Bendigo-Ballarat-Victoria gold fields of Australia (80 million oz. production), Meguma Group in Nova Scotia (1.2 million oz production) and the recent Newfoundland exploration success of NewFound Gold Corp. There is good exploration potential for a large tonnage, bulk mining operation based upon the recent discovery of disseminated gold in metasedimentary rocks at many former gold districts.

The Gordon Lake area is well known for its many gold occurrences. Frequently these occurrences have exceptional grade but limited extent. Historical work was concentrating on gold grade needing to be greater than 0.5 oz/ton. The company feels that many of the historical occurrences should be re-evaluated in the context of 2020 gold prices to better understand their relevance in todays gold price environment.

Any reference to a resource at the Gordon Lake south area should be considered historical and a non-compliant NI 43-101 resource. 

Gold production in the South Gordon Lake area is summarized as:

Camlaren – In 1937/38; 13,177 tons of ore graded 0.62 oz/ton. In 1963, 12,174 tons graded 1.14 oz/ton. In 1978, the resource was estimated at 56,000 tons grading 0.62 oz/ton. In 1980; 12,282 tons of ore graded 0.42 oz/ton. In 1981; 39,680 toms of ore graded 0.44 oz/ton. 

Burnt Island – The only reported resource from Burnt Island comprised a was in 1989 estimation of 1,300 tons grading 2.11 oz/ton down to the 100’ level. 

Kidney Pond (Mahe) – The only reported resource from 1995 comprises an underground resource of 10,040 tons grading 0.74 oz/ton and an open pit resource of 3,300 tons grading 0.45 oz/ton. 

West Bay – By end of 1948, a total of 289 tons of ore was produced grading 221 oz/ton. In 1991, 1,387 tons of ore were produced grading 0.78 oz/ton. 

The most recent acquisition of mineral tenure in the south Gordon Lake area marks the first time in history that all advanced projects in the district have been consolidated with one corporate owner and no vendor royalties or payments. This was a unique opportunity that came together from a federal government reclamation project in the Gordon Lake area, an extensive downturn in the mining market conditions and the COVID pandemic.

The company intends to commission a NI43-101 compliant report to list as a “property of merit” and to outline a plan for this exciting new project. For further information on this project, please visit the company’s website (www.goldpursuit.ca) which will be updated this week..

Qualified Person

The technical information in this news release has been reviewed and approved by Mr. Gary Vivian P. Geo., a Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.

About Golden Pursuit Resources

Golden Pursuit Resources is an exploration and project generator company focused on its portfolio of 15 mineral properties located in Nevada and the development of its recently staked Gordon Lake Project, located 85 kms N of Yellowknife NWT. Golden Pursuit owns100% of all properties with no royalties. The company has a carried 40% interest in a joint venture on its Blackpoint Prospect located 8 kms north of Eureka Nevada and is awaiting assays from a recently completed drill program.

On Behalf of the Board of Directors,

GOLDEN PURSUIT RESOURCES LTD.

Brian McClay

President/CEO

For further information please contact:

Investor Relations

Brian McClay

Tel: +1 (604) 730.6982

Email: info@goldpursuit.ca 

https://www.GoldPursuit.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements”. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Golden Pursuit’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this document include statements concerning Golden Pursuit’s expected use of proceeds of the Offering and all other statements that are not statements of historical fact.

Although Golden Pursuit believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; future legislative and regulatory developments in the mining sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of Golden Pursuit to implement its business strategies; competition; and other assumptions, risks and uncertainties.

The forward-looking information contained in this news release represents the expectations of the company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

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Golden Pursuit and JV Partner Stevens Gold Nevada Inc. Announces Drill Program on Black Point Property

August 10, 2020

Golden Pursuit and JV Partner Stevens Gold Nevada Inc.
Announces Drill Program on Black Point Property

Vancouver, BC: GOLDEN PURSUIT RESOURCES LTD. (GDP-TSX-V) (“GoldPur”) and STEVENS GOLD NEVADA INC. (CSE: SG)  (the “Company” or “Stevens Gold”) is pleased to announce that it will commence a drill program on its Black Point Property during the week of August 17, 2020. 

Stevens Gold has the right to earn up to a 60% interest in the Black Point Property (the “Property”) from Golden Pursuit Resources Ltd.. Under the terms of the binding Property Option, the Company has the right to purchase 60% interest in the Property by making a payment of US$500,000. Until the payment of the purchase price is made, the Company is to make annual lease payments. GoldPur retains a 2% Net Smelter Return royalty on production.

The Property, consisting of 80 lode mining claims covering approximately 1,600 acres, is located in Eureka County, Nevada in the prolific Battle Mountain – Eureka Trend, 11 miles northeast of Eureka and 18 miles west of the Bald Mountain-Alligator Ridge-Yankee mining district.

The drilling will test the down-dip extension of anomalous gold and pathfinder elements shown in the July 2019 soil sampling program and geophysical targets identified in gravity and CSAMT surveys conducted in December 2018 and September 2019 respectively.  The soil anomaly coincides with altered float and sub-outcrop of the Mississippian-Devonian Pilot Shale, a calcareous siltstone. This stratigraphy is a prolific host in the nearby Eureka and Alligator Ridge – Bald Mountain district and other Carlin-style deposits in Eastern Nevada.

The gravity and CSAMT geophysical surveys on the property concentrated on the alluvium covered slopes and valley to the west of the outcrops.  CSAMT results show an apparently steep lying strong resistive area underlies the west flank of the ridgeline. This could represent a silicified fault zone or a resistive geologic unit. Gravity shows a relatively consistent dip of the basin to the west, which is also mirrored to a degree in the CSAMT data.  

Mining in the Black Point area started about 1864 with sporadic activity until the 1939 – 1942 period when a few shipments with silver grades of 410 – 3,700 ppm (12 to 108 opt) were made to various smelters.  Exploration in the local area recommenced about 1964 culminating in an 82-hole percussion drill program in 1971 – 1972.  The district was quiet until the early 1980’s gold rush when portions of the current property were explored by Gergan, Newcrest, Iron Horse Resources and Urastar between 1989 and 2012. 

The disclosure of technical information regarding the Property contained in this news release has been reviewed and approved by Alan J. Morris, CPG, who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and independent of Stevens Gold.  

About Golden Pursuit Resources Ltd.

Golden Pursuit Resources Ltd. is a mineral exploration company. Its primary business objective is to explore and develop a portfolio of owned properties located in the State of Nevada and mineral leases in the NWT. The management team at Golden Pursuit has extensive experience in the acquisition and development of mineral related opportunities in North America and globally and continues its search for additional opportunities.

ON BEHALF OF GOLDEN PURSUIT RESOURCES LTD.

(sgd.) Brian McClay

 President
T: 604-730-6982
E: info@goldpursuit.ca

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Forward-Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Stevens Gold. Forward-looking information is based on certain key expectations and assumptions made by the management of Stevens Gold. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Although Stevens Gold believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Stevens Gold can give no assurance that they will prove to be correct. 
The TSX-Venture Securities Exchange (TSX-V) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

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GOLDEN PURSUIT ANNOUNCES RE-ORGANIZATION INCLUDING CONSOLIDATION, FINANCING AND SHARES FOR DEBT

March 25, 2020

Vancouver, B.C., Canada, March 25, 2020 – Golden Pursuit Resources Ltd. (the “Company”) is pleased to announce that the board of directors believe it would be in the best interest to consolidate its outstanding common shares on the basis of two (2) existing common shares for one (1) new common share of the Company (the “Consolidation”).

The Company would also like to announce that it intends to complete a non-brokered private placement financing following the Consolidation for up to 4,000,000 units (the “Units”) at a post-consolidated price of $0.10 per Unit to raise gross proceeds of up to $400,000 (the “Private Placement”). Each Unit will consist of one (1) post-consolidated common share and one-half of one (1) common share purchase warrant. Each whole warrant will entitle the holder to acquire an additional post-consolidated common share exercisable at $0.12 per share, on a post-consolidated basis, for a period of two (2) years from the date of closing of the Private Placement.

Proceeds of the Private Placement will be used for project generative activities, and general working capital.

The Company would also like to announce that its board of directors has approved the settlement of up to
$470,014 of outstanding debt through the issuance of common shares of the Company (the “Debt
Settlement”). Pursuant to the Debt Settlement, the Company would issue up to 4,700,140 post-consolidated
common shares of the Company (the “Shares”) at a deemed price of $0.10 per Share to the creditors of the
Company (the “Creditors”).

The issuance of the Shares to the Creditors is subject to the approval of the TSX Venture Exchange and the
shareholders of the Company. All securities issued will be subject to a four month hold period which will
expire on the date that is four months and one day from the date of issue.

As certain insiders participated in the Debt Settlement, it is considered to be a “related party transaction” under
Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transaction (“Mi-61-
101”). All of the independent directors of the Company, acting in good faith, considered the transactions and
determined that the fair market value of the securities being issued to insiders and the consideration being paid
is reasonable. The Company intends to rely on the exemptions from the valuation and minority shareholder
approval requirements of MI 61-101 contained in section 5.5(a) and 5.7(a).

The foregoing is subject to the approval of the TSX Venture Exchange.

GOLDEN PURSUIT RESOURCES LTD.

Per: “Brian McClay”
Brian McClay, President

CONTACT INFORMATION:

Brian McClay
Email: bmcclay@aol.com
Tel: (604) 730-6982

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.

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GOLDEN PURSUIT STAKES ADDITIONAL CLAIMS ON JOINT VENTURED PROSPECTS IN CENTRAL NEVADA

VANCOUVER, BC, November 15, 2018, Golden Pursuit Resources Ltd (TSX.V: GDP)(“GDP”) is pleased to announce that it has staked additional claims over new developing targets at both the Black Point and Stevens Basin properties, with each subject to the terms of Lease Purchase Option Joint Venture Agreements, entered into by the signing of Letters of  Intent with 1167609 B.C. LTD, as announced on October 23, 2018.

 

Target Mineralization

The targets at both properties are Carlin style gold deposits hosted in favorable lithologic horizons and structures in Lower Paleozoic carbonate-rich rocks. The closest examples to the Stevens Basin property are the Archimedes deposits at Ruby Hill 10 km to the northeast that produced 1.4 million ounces of gold. The Black Point property lies 19 km NE of Ruby Hill and 31 km SW of the Yankee-Alligator Ridge-Bald Mountain District.

 

Stevens Basin

New claims covering Lower Paleozoic carbonate rocks surrounding the Basin were recently staked, including areas where rock chip sampling of siliceous zones (jasperoids) has yielded values between 0.14 and 1.56 ppm gold. Jasperoids often represent the surface expression of hydrothermal fluids from which gold deposits are formed. Frequently, jasperoids only contain trace gold values but have anomalous levels of associated pathfinder metals, particularly arsenic, antimony, and mercury. These are intruded by altered intermediate intrusive rocks that generally trend E-W. Such evidence of igneous activity is invariably present in, or adjacent to, Carlin systems.  

Detailed field mapping is in progress to outline anomalous metal trends that may also coincide with recently recognized targets. Intersections of geophysical linears are prime targets for drill testing. Detailed gravity and new CSAMT surveys are planned over what is thought to be shallow Basin cover to augment field work and refine such targets. Recent interpretation of regional magnetic and gravity data has outlined broad linear features across Basin margins that will guide the location for the new surface surveys. The gravity and CSAMT data will also better define depth to bedrock where any buried structural targets are within striking distance of surface drilling.  

The nearby West and East Archimedes deposits are hosted in altered carbonate rocks of Lower Paleozoic age and along a distinct WNW direction where intersected by N-S and NNE-SSW trends.  A similar trend, displayed in regional magnetic data, cuts through Stevens Basin and intersects prominent N-S and NW-SE linears. Several such intersections represent excellent buried targets that GDP geologists intend to enhance with surface geochemical techniques around the basin margin. Both grid soil sampling in and around altered outcrops and BLEG sampling of basin-ward drainages are planned.

Previous work on the property concentrated on an area at the north end of the basin where a series of reverse-circulation angled drill holes tested two adjacent anomalous gold trends indicated primarily by surface sampling of jasperoids in outcrop and float. Gold mineralization greater than 100 ppb was intersected in 6 out of 22 holes over widths that, in one hole, totaled 33 meters.

 

Black Point

Reconnaissance chip sampling of silicified rocks was recently undertaken on the property. Some gold values as high as 408 ppb were obtained in jasperoidal breccia and most were highly anomalous in pathfinder metals associated with sediment hosted gold deposits, particularly arsenic. Sampled areas are close to the series of mapped and interpreted ENE, NW, and NE striking fractures or thrust faults on lithological contacts in Devonian and Mississippian calcareous siltstones and carbonate rocks including the Pilot Shale, host rock to the Alligator Ridge deposits.

Host rocks and structures extend SW under shallow basin sediment-cover. Geophysical surveys are planned to map structural continuities and cover thickness along the western extent of the property. Mineralized targets are thought to be both stratabound, particularly in the Pilot Shale, or in steeply dipping structures that act as feeders and themselves can form rich underground deposits. It is notable that over 40% of production from Carlin type systems in Nevada now comes from underground, high grade, deposits.

Past silver mining and later exploration in the Black Point area include underground mining and drilling by Gergen Mining in the 1970’s and 1980’s who also produced from the Philipsburg silver mine 8 km to the north. Later drilling by Newcrest in 1996 totaled 320 meters in 3 reverse circulation holes and, in 2011, Urastar Gold drilled 4 core holes, totaling 427 meters. No results of any previous work are currently available.

Gold production from the Yankee-Alligator Ridge-Bald Mountain belt over a 30 year period since the first discovery by Amselco, now exceeds 1.6 million ozs. Other Pilot Shale hosted deposits in eastern Nevada include the Pan, Easy Junior, and Green Springs deposits.  

GDP geologists estimate that a total of US $1.2 million have been expended to date by all the companies that have worked on both the Stevens Basin and Black Point projects. Detailed review of all available data, together with new applications of proprietary and public domain regional geophysical data, has allowed GDP geologists to interpret key structural controls on mineralization and to predict potential new drilling targets under pediment on both properties.

 

Qualified Person

Technical references in this Press Release have been reviewed and approved by Anthony P. Taylor BSc, PhD, Certified Professional Geologist #CPG11464, a Qualified Person under the definitions established by Canadian National Instrument 43-101.

 

Golden Pursuit Resources Ltd.

 “Brian McClay”                                  

Brian McClay, President

CONTACT INFORMATION

Email: info@Goldenpursuit.com

Tel: (604) 730-6982

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 contains “forward-looking information” within the meaning of that phrase under applicable Canadian securities law.  This information reflects management’s current assumptions and expectations but known and unknown risks, uncertainties and other factors may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, risks and uncertainties relating to the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that exploration, development or mining results will not be consistent with the Company’s expectations, title matters and surface access issues, the potential for delays in exploration or development activities, the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, failure to obtain adequate financing, the possibility that the Company may not sell its projects or secure joint venture partners or optionees, and other risks and uncertainties. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company disclaims any obligation to update or revise any forward looking information to reflect events or changes in circumstances that occur after the date of this news release.

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GOLDEN PURSUIT ENTERS INTO LETTERS OF INTENT WITH 1167609 B.C. LTD

Golden Pursuit Resources Ltd. (the “Company”) announces that it has entered into letters of intent (the “Agreements”) with 1167609 B.C. Ltd. (the “Optionee”) with respect to the Stevens Basin project (“SB Project”) and Black Point project (“BP Project”) which are both located in Nevada, USA (the “Properties”).  

 

Pursuant to the Agreements, the Company has granted the Optionee the option to purchase a 60% interest in the Properties subject to a 2% NSR in favour of the Company and which the Optionee shall make the following payments to the Company as set out below:

 

SB Project

 

The purchase price of the SB Project is USD$500,000 and is payable on or before commencement of commercial production. In addition, the Optionee has agreed to make the following lease payments paid in consideration of the grant and maintenance in good standing of the option to purchase: (i) USD$25,000 within 5 business days of signing the Agreement (being October 10, 2018); (2) USD$50,000 on or before the 1st and 2nd anniversary; (3) USD$75,000 on or before the 3rd and 4th anniversary; and (4) USD$100,000 before the 5th anniversary and annually thereafter.

 

BP Project

 

The purchase price of the BP Project is USD$750,000 and is payable on or before commencement of commercial production. In addition, the Optionee has agreed to make the following lease payments paid in consideration of the grant and maintenance in good standing of the option to purchase. Upon execution of the Agreement, the Optionee shall pay to the Company (i) USD$25,000 within 5 business days of signing the Agreement (being October 10, 2018); (2) USD$25,000 on or before the 1st and 2nd anniversary; (3) USD$50,000 on or before the 3rd and 4th anniversary; and (4) USD$100,000 before the 5th anniversary and annually thereafter.

 

The Company continues to operate under a project generator model with a special emphasis on Nevada. The Company has a remaining large portfolio of 18 other properties located in Nevada and a property in the North West Territories which it continues to compile data from previous work and has completed geological mapping and sampling this past year which has enhanced the understanding of the mineral potential of these projects.

 

GOLDEN PURSUIT RESOURCES LTD.

 

Per: “Brian McClay”
Brian McClay, President

 

CONTACT INFORMATION:

 

Brian McClay

Email: info@Goldenpursuit.com

Tel: (604) 730-6982

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.

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