Antioquia Gold Updates Timing of First Quarter 2020 Results

Calgary, Alberta--(Newsfile Corp. - May 18, 2020) - Antioquia Gold Inc. (TSXV: AGD) (OTC Pink: AGDXF) ("Antioquia Gold" or the "Corporation") announces an update on timing of the release of its interim unaudited financial results for the first quarter ended March 31, 2020.

The Company is utilizing the temporary relief announced by the Ontario Securities Commission under Ontario Instrument 51-102 (and similar exemptions provided by other Securities Regulators) on March 23, 2020. The Instrument provides a 45-day extension for periodic filings including financial statements, management's discussion of results and the requisite analysis.

The Company does not believe that it will be able to file its unaudited interim financial statements and management discussion and analysis for the period ending March 31, 2020 by the usual 60 day deadline of May 29, 2020, and will be relying on the extension. Accordingly, as required by the conditions of the extension, the Company's management and other insiders will be subject to a trading black-out that reflects the principles in Section 9 of National Policy 11-207 until its unaudited interim financial statements are filed. The Company anticipates reporting the March 31, 2020 unaudited interim financial statements and management discussion and analysis on or before July 10, 2020.

Other than disclosed in the Corporation's prior press releases dated February 4, 2020, April 13, 2020 and May 8, 2020 there have been no material business developments since the filing on November 25, 2019 and December 9, 2019 of the Corporation's latest ‎interim financial reports for the period ended September 30, 2019.

About Antioquia Gold Inc

Antioquia Gold Inc. is a mineral Company engaged in the operation of primarily gold resource properties in Colombia. The Company has its corporate headquarters in Toronto, Canada with operations, offices and field facilities located in Colombia.

On behalf of the board of directors
Gonzalo de Losada, President & CEO

For further information on Antioquia Gold Inc. contact:
Antioquia Gold Inc.
Tel: +(574) 3217073
Email: info@antioquiagold.com
www.antioquiagoldinc.com

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 press release.

Reader Advisory Forward-Looking Statements:

This press release contains "forward-looking information" within the meaning of Canadian securities legislation. This information and these statements, referred to herein as "forward-looking statements", are made as of the date of this press release and the Corporation does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law.

Forward-looking statements relate to future events or future performance and reflect current expectations or beliefs regarding future events and include, but are not limited to, statements with respect to: the completion of the Rights Offering and the use of proceeds of the offering. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives", "schedule" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements.

Forward-looking statements are made based upon certain assumptions by the Corporation and other important factors that, if untrue, could cause the actual results, performances or achievements of Antioquia to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business prospects and strategies and the environment in which Antioquia will operate in the future, including the accuracy of any resource estimations, the price of gold, anticipated costs and Antioquia's ability to achieve its goals, anticipated financial performance, regulatory developments, development plans, exploration, development and mining activities and commitments. Although management considers its assumptions on such matters to be reasonable based on information currently available to it, they may prove to be incorrect. Additional risks are described in Antioquia's most recently filed Annual Information Form, annual and interim MD&A and other disclosure documents available under the Corporation's profile at: www.sedar.com.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. We caution readers not to place undue reliance on these forward-looking statements as a number of important risk factors could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements.

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