Mr. Darrell Rader reports

MINAURUM DRILLS MORE HIGH-GRADE AT ALAMOS INCLUDING 3.8 M OF 415 G/T SILVER, 2.68 G/T GOLD, AND 16.75% BASE METALS

Minaurum Gold Inc. has released further results from its continuing first stage drill program at its Alamos silver project in Sonora, Mexico. Over 20 vein systems have been identified at Alamos and, with these latest results, Minaurum has now tested 14 of these known systems. The initial focus has been on drilling several holes into each vein to determine the extent of the district and to generate a prioritized inventory for subsequent systematic drilling. Several holes were dedicated to finding wide zones within the major known veins. Two rigs are currently active.

Recent high-grade drill results include:

• Hole AL19-025 -- 3.80 metres (m) of 415 grams per tonne (g/t) silver (Ag), 2.68 g/t gold (Au), 1.37 per cent copper (Cu), 6.20 per cent lead (Pb), 9.19 per cent zinc (Zn) or 1,430 g/t gold equivalent (AgEq), including 0.95 m of 1,566 g/t Ag, 6.72 g/t Au, 4.48 per cent Cu, 9.27 per cent Pb, 10.08 per cent Zn or 3,321 g/t AgEq;
• Hole AL19-018 -- 0.95 m of 425 g/t Ag, 0.32 per cent Cu, 3.17 per cent Pb, 1.31 per cent Zn or 622 g/t AgEq;
• Hole AL19-030 -- 1.95 m of 261 g/t Ag;
• Hole AL19-031 -- 0.90 m of 337 g/t Ag and 0.90 m of 307 g/t Ag;
• Hole AL19-026 -- 1.05 m of 134 g/t Ag, 0.31 per cent Cu, 1.25 per cent Pb, 3.89 per cent Zn or 412 g/t AgEq.

"Our systematic approach to determining the extent of the Alamos district continues to be validated by drilling silver mineralization in newly recognized veins outside of the historical mining areas. We now have high-grade silver intercepts in 10 of the 14 vein systems drilled to date," stated Darrell Rader, president and chief executive officer of Minaurum Gold. "We still have six more veins that need to be tested before we begin follow-up drilling that will target the veins that have the potential to host volumes of high-grade mineralization similar to that of the historic Quintera and Promontorio mines."

Promontorio vein system

Hole AL19-025 drilled the Promontorio zone from the eastern, footwall side and intersected 3.80 m of 415 g/t Ag, 2.68 g/t Au, 1.37 per cent Cu, 6.20 per cent Pb and 9.19 per cent Zn, including 0.95 m of 1,566 g/t Ag, 6.72 g/t Au, 4.48 per cent Cu, 9.27 per cent Pb and 10.08 per cent Zn. Hole AL19-025 was drilled approximately 350 m south of hole AL17-005 that intersected 20.15 m of 154 g/t Ag, 0.5 per cent Cu, 2.3 per cent Pb and 6.8 per cent Zn (see news release dated Nov. 3, 2017).

Europa Sur area

The Europa Sur area contains three separate vein systems: Europa SE, Europa SW and Europa W. Each of these was intersected in hole AL19-018. Europa SE returned 2.30 m at 41 g/t Ag with anomalous Cu, Pb and Zn values. At Europa SW, the fault contact between skarn-altered limestone and granodiorite yielded 0.95 m averaging 425 g/t Ag, with significant base metal credits. This included a 0.5-metre interval assaying 719 g/t Ag, 172 parts per billion (ppb) Au, 0.57 per cent Cu, 5.92 per cent Pb and 2.37 per cent Zn. Europa W was intersected by AL19-018 and returned an 8.3-metre quartz vein/breccia interval containing a 0.7-metre interval assaying 237 g/t Ag, 0.21 per cent Cu, 0.81 per cent Pb and 2 per cent Zn.

San Jose vein system

AL19-029 tested the San Jose system about 200 m southwest of the San Jose workings. The hole cut 30.10 m of vein breccia and strongly silicified and veined andesites and granodiorite from 126.65 to 156.75 m. The interval of 130.65 to 143.65 m averaged 37 g/t Ag, 39 ppb Au, 0.04 per cent Cu, 0.21 per cent Pb and 0.40 per cent Zn. AL19-031 tested the San Jose system under the historic Claraboya workings, about 600 m northeast of the San Jose workings. It intersected 1.70 m averaging 206 g/t Ag from 366.50 to 367.40 m, including a 0.90-m interval assaying 337 g/t Ag. A second 0.90-m interval, from 374.30 to 375.20 m, assayed 307 g/t Ag. Both intervals were hosted by veined and silicified granodiorite in the San Jose vein system.

Blind vein (possible extension of Nueva Europa)

Hole AL19-030 was drilled at a shallow angle (minus 40 degrees) to test the northern projection of Nueva Europa. The hole encountered a 9.80-metre zone of quartz veinlets that averaged 31 g/t Ag, from 427.05 to 436.85 m, before cutting a 1.95-metre zone averaging 261 g/t Ag, from 488.15 to 489.40 m. A second zone contained a 0.4-metre interval that assayed 1,100 g/t Ag and 0.38 per cent Cu. Other than its possible correlation with Nueva Europa hundreds of metres to the south, it is completely blind with no known surface expression.

Azulacas vein -- Promontorio vein system

Holes AL19-021 and AL19-023 tested the immediate footwall of the Azulacas vein, one of the significant historically mined strands of the Promontorio system. AL19-021 cut 6.55 m of 91 g/t Ag and anomalous base metals in the immediate footwall of Azulacas, before stopping the hole in workings at 149 m. AL19-023 was collared at the same pad as AL19-021, but was drilled at a steeper angle. It cut 13.10 m averaging 119 g/t Ag and 1.37 per cent Zn in the footwall of the Azulacas zone.

Europa-Guadalupe vein system

Hole AL19-026 intersected Europa-Guadalupe where it splits into several strands. The highest grade returned was 231 g/t Ag, 0.38 per cent Cu, 2.48 per cent Pb and 7.83 per cent Zn over 0.45 m.

Promontorio Sur vein system

Holes AL19-020 and AL19-024 tested Promontorio Sur. Both holes demonstrated that the system is in a fault block downdropped from the Promontorio system. AL19-020 cut a 0.20-metre interval in the fault zone, assaying 304 g/t Ag at the beginning of a 31.4-metre interval of Pb and Zn mineralization. The mineralized zone contains a 1.55-metre zone assaying 1.27 g/t Au. Hole AL19-024 tested Promontorio Sur about one kilometre (km) southwest of hole AL19-020. It encountered anomalous Ag, Pb and Zn in several intervals in altered limestone. One 0.2-metre interval assayed 3.98 per cent Pb and 1.73 per cent Zn. The Promontorio Sur zone's structural similarity to the main Promontorio zone suggests the potential for mineralized shoots similar to those historically mined at Promontorio.

Amalia vein and footwall

AL19-019 targeted Amalia and tested the potential for vein mineralization in altered limestone in the footwall of the Amalia zone. The hole cut numerous intervals ranging from 0.25 m to 1.20 m thick, with strongly anomalous values of Pb and Zn and Ag values less than 50 g/t. The highest-grade interval was 0.25 m of 113 g/t Ag, 150 ppb Au, 0.28 per cent Cu, 2.60 per cent Pb and 5.74 per cent Zn.

Tigre vein system

AL19-022 tested Tigre under the Tigre workings, cutting only anomalous values in quartz-calcite veins and veinlets.

La Quintera vein system

AL19-017 was drilled to test the hanging wall at La Quintera. The hole encountered mineralized veinlets in the hanging wall, reporting a 0.5-metre zone assaying 124 g/t Ag and 0.26 per cent Cu and a 0.2-metre interval averaging 365 g/t Ag and 0.785 per cent Cu. The hole cut a nearly 40-metre-thick section of weakly mineralized massive quartz veining in the footwall of the mined-out La Quintera shoot.

Drill program

Since September, 2018, Minaurum has completed 12,000 m of drilling. For the remainder of the year, Minaurum will continue its systematic hunt for new silver shoots in untested vein systems. Once testing is complete, Minaurum will temporarily pause drilling in order to compile data toward the goal of prioritizing the next phase of systematic drilling of the highest-priority vein targets with multiple drill rigs.

About Minaurum Gold Inc.

Minaurum Gold is a Mexico-focused explorer concentrating on the high-grade Alamos silver project in southern Sonora state. With a property portfolio encompassing multiple additional district-scale projects, Minaurum is managed by one of the strongest technical and finance teams in Mexico. Minaurum's goal is to continue the legacy of its founders of creating shareholder value by making district-scale mineral discoveries and executing accretive mining transactions.

Stephen R. Maynard, vice-president of exploration of Minaurum and a qualified person as defined by National Instrument 43-101, reviewed and verified the assay data and has approved the disclosure in this news release.

Quality assurance/quality control (QA/QC): Preparation and assaying of drilling samples from Minaurum's Alamos project are done with strict adherence to a QA/QC protocol. Core samples are sawed in half and then bagged in a secure facility near the site and then shipped by a licensed courier to ALS Minerals' preparation facility in Hermosillo, Sonora, Mexico. ALS prepares the samples, crushing them to 70 per cent less than two millimetres (mm), splitting off 250 grams and pulverizing the split to more than 85 per cent passing 75 microns. The resulting sample pulps are prepared in Hermosillo and then shipped to Vancouver for chemical analysis by ALS Minerals. In Vancouver, the pulps are analyzed for gold by fire assay and ICP/AES on a 50-gram charge. In addition, analyses are done for a 48-element suite using four-acid digestion and ICP analysis. Samples with silver values greater than 100 g/t and copper, lead or zinc values greater than 10,000 parts per million (ppm) (1 per cent) are reanalyzed using four-acid digestion and atomic absorption spectrometry (AAS).

QC samples are inserted in the sample stream every 20 samples and thus represent 5 per cent of the total samples. QC samples include standards, blanks and duplicate samples. Standards are pulps that have been prepared by a third party laboratory; they have gold, silver and base-metal values that are established by an extensive analytical process in which several commercial labs (including ALS Minerals) participate. Standards test the calibration of the analytical equipment. Blanks are rock material known from prior sampling to contain less than 0.005 ppm gold; they test the sample preparation procedure for cross-sample contamination. In the case of duplicates, the sample interval is cut in half and then quartered. The first quarter is the original sample, with the second becoming the duplicate. Duplicate samples provide a test of the reproducibility of assays in the same drilled interval. When final assays are received, QC sample results are inspected for deviation from accepted values. To date, QC sample analytical results have fallen in acceptable ranges on the Alamos project.

We seek Safe Harbor.