Sego Resources Closes $465,080 Financing to Fund Miner Mountain Drill Program Now Underway

Vancouver, British Columbia--(Newsfile Corp. - November 12, 2021) - Sego Resources Inc., (TSXV: SGZ) ("Sego" or "the Company") is pleased to announce that the Company has closed a financing for total gross proceeds of $465,080, as previously announced on October 26, 2021 and November 8, 2021. The financing has been accepted for filing and closing by the TSX Venture Exchange.

CEO J Paul Stevenson stated, "The Company is now funded to drill the new Southern Gold Zone on its Miner Mountain Project, near Princeton, BC. The Southern Gold Zone is an apparent intrusive related gold system. Drilling is starting immediately."

Pursuant to the private placement, Sego will issue in total 5,167,555 flow-through shares at $0.09 per share for gross proceeds of $465,080.

The securities issued on closing are subject to the applicable statutory four-month + one-day hold period ending March 13, 2022. The proceeds will be expended on the continued exploration of the Company's Miner Mountain Southern Gold Zone located near Princeton, BC.

Certain finder's fees are payable on a portion of the private placement and consist of 7% cash and 7% Broker's Warrant. Each Broker's Warrant entitles the holder to subscribe for an additional share for $0.09 for two years from the closing of the private placement.

PI Financial Corp. received 7% cash ($12,045.60), 7% Broker's Warrants (133,840). Odlum Brown Limited received 7% cash ($5,323.50), 7% Broker's Warrants (59,150). Sightline Wealth Management received 7% cash ($1,890.00 cash), 7% Broker's Warrants (21,000). Echelon Capital Markets received 7% cash ($1,890.00), 7% Broker's Warrants (21,000).

Any Broker's Warrants exercised prior to March 13, 2022 will be subject to the hold period.

Insiders of the company subscribed for , with Selina Tribe, CFO and a director of the company, subscribing for 55,555 shares, Julian Jaffary, a deemed insider of the company, subscribing for 200,00 shares Aggregate Pro Group Involvement - 5 placees, 820,000 shares.

As a result, the private placement is a related-party transaction (as defined under Multilateral Instrument 61-101 [Protection of Minority Security Holders in Special Transactions]). The company relied upon Section 5.5(a) (Fair Market Value Not More Than $2.5 million), Section 5.5(c) (Distribution of Securities for Cash), and exemptions from the formal valuation and minority shareholder approval requirements, respectively, under MI 61-101.

The Company fully expects to spend the funds as stated, however, there may be circumstances, for sound business reasons, where a reallocation of funds may be necessary.

There is no material change about the issuer that has not been generally disclosed.

For further information please contact:

J. Paul Stevenson, CEO (604) 682-2933 or

For investor & shareholder information, please contact:

MarketSmart Communications Inc.
Ph: 1 (877) 261-4466
Email: info@marketsmart.ca

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. No regulatory authority has approved or disapproved the information contained in this news release.

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statement of historical facts that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects re forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, statements are not guarantees of future performance and actual results or developments may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/103326