MAS Gold Announces Private Placement to Support Exploration Activities on North Lake, Preview Lake and Greywacke Property

/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES/

VANCOUVER, Nov. 14, 2019 /CNW/ - MAS Gold Corp. ("MAS Gold" – TSX-V:MAS) announces a non-brokered private placement (the "Private Placement") comprised of Flow-Through units and Non-Flow-Through units for aggregate gross proceeds of up to $800,000.

The Flow-Through portion of the offering is intended to raise proceeds of up to $400,000 at a price of $0.07 per Flow-Through unit.

The Non-Flow-Through units portion of the private placement, is intended to raise proceeds of up to $400,000 at $0.06 per Non-Flow-Through unit.

Units of both are comprised of one common share and one common share purchase warrant.  In both cases, each warrant will entitle the holder to purchase one additional MAS Gold common share at a warrant exercise price of $0.10 per common share for a period of 24 months from the date of issue.

MAS Gold will use the proceeds of the Private Placement to fund the ongoing exploration of its gold projects in the La Ronge Gold Belt region of Saskatchewan, as well as for general working capital purposes. The work outlined below will help build on a growing database that includes very positive preliminary flotation and cyanidation metallurgical test results recently completed (see MAS Gold News releases dated September 24, 2019 and November 12, 2019).

The Company execution priorities are as follows:

NORTH LAKE AND PREVIEW LAKE AREA

• Complete resource studies and supporting metallurgical test work. This will include further drilling at the North Lake deposit, Point deposit and the Joe/ Preview North targets.
  
  
• The Preview SW deposit and other targets within the working in conjunction with Comstock Metals Ltd. property may fit within the overall objective (see October 23, 2019 news release).
  
  
• Complete baseline environmental studies to support a central mill production platform centred on the North Lake Preview Lake region. The anticipated timeline for the environmental baseline work is a minimum of one year.
  
  
• Execute exploration activities on earlier stage targets within the region as required to support advancing to a Preliminary Economic Assessment within the following two years.

GREYWACKE PROPERTY

• Execute an additional drill and metallurgical testing campaign on Greywacke North to support a Preliminary Economic Assessment.  The high gravity recovery reported  by the bench scale and bulk sample recoveries conducted during test mining in 2014 opens the possibility for a low-cost processing facility located on site.

MAS Gold may pay finder's fees on a portion of the Private Placement in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the "Exchange").

The Private Placement may be completed in multiple closings, subject to the receipt of all regulatory approvals including the approval of the Exchange.

The Private Placement securities have not been, and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.

About MAS Gold Corp.

MAS Gold Corp. (formerly Masuparia Gold Corporation) is a Canadian mineral exploration company focused on exploration projects in the prospective La Ronge Greenstone Belt of northeastern Saskatchewan. MAS Gold's projects include the advanced-stage Greywacke Property, which hosts high-grade, gold-bearing zones having a National Instrument 43-101 compliant (at a cut-off grade of 5 grams gold/tonne) Indicated Mineral Resource of 255,500 tonnes grading 9.92 g Au/t plus an Inferred Mineral Resource of 59,130 tonnes grading 7.42 g Au/t. MAS Gold's NI 43-101 Technical Report of June 1, 2016 concerning the Greywacke deposit is available on SEDAR and on MAS Gold's website: http://www.masgoldcorp.com.

On Behalf of the Board of Directors of MAS Gold Corp.

Ronald K. Netolitzky
President & CEO

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 news release.

Caution Regarding Forward Looking Information and Statements

This news release includes certain forward-looking statements or information that could cause actual results to differ materially from MAS Gold's plans or expectations. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding metallurgical results and outcomes, any updated technical report, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, cost overruns, that MAS Gold may lose or abandon its property interests or may fail to receive necessary licences and permits, availability of capital and financing and general economic, market or business conditions.

The forward-looking statements included in this news release are made as of the date hereof and MAS Gold disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

SOURCE MAS Gold Corp

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