Mr. Stephen Nano reports

MIRASOL OUTLINES 1.4 KM LONG GEOPHYSICAL ANOMALY AT THE RESOLUTION TREND OF THE NICO AG-AU PROJECT, SANTA CRUZ, ARGENTINA

Mirasol Resources Ltd. has completed this season's exploration at the Resolution trend, one of four high-grade silver-gold prospects at the 100-per-cent-Mirasol-owned Nico project, Santa Cruz province, Argentina.

Highlights from the recent Resolution trend exploration:

• A 1.7-square-kilometre, 100-metre line-spacing geophysical survey was completed, which outlined a 1.4 km long chargeability anomaly coincident with the down-dip projection of the previously reported high-grade silver-gold-bearing vein breccias (see news releases, March 2, 2018, and Aug. 8, 2017);
• Geological mapping has outlined a prospective setting of outcropping mineralized structures with a defined cumulative strike length in excess of 1.5 km, hosted within a porphyritic subvolcanic dacite dome unit;
• Systematic detailed rock chip and saw-cut channel sampling has also been completed with all samples dispatched to the laboratory for analysis. Results will be reported on receipt of final assays in the coming weeks.

Stephen Nano, the company's president and chief executive officer, stated: "Our exploration efforts continue to upgrade our understanding and advance the Resolution prospect toward drill testing, consistent with the objectives of our recently announced expanded exploration strategy and the company's oversubscribed $8.6-million raising, completed June 8, 2018 (see news release for details). Resolution is one of several compelling, logistically advantaged, high-grade drill targets taking shape in our Santa Cruz project portfolio at this time."

Geological mapping at Resolution has outlined a 1.8 km long, up to 120 m wide trend of intermittently outcropping, northeast-striking, southeast-dipping (58 degrees to 61 degrees) oxidized vein-breccias. Previously reported reconnaissance rock chip sampling here returned peak high-grade assays up to 6,181 grams per tonne Ag and 5.73 g/t Au from select rock-chip sampling of oxidized vein breccias. Systematic sampling on nominal one m to 10 m sample centres along the vein breccia trends of rock chip and saw-cut channel sampling has now been completed with samples delivered to the laboratory for analysis.

In outcrop, several subparallel vein breccia structures are developed within the Resolution trend. Individual vein breccias are between typically 15 centimetres to 50 centimetres wide and show classic crustiform banded epithermal vein textures with voids in the banding, interpreted to be due to the near-surface oxidation of sulphide layers. This style of banded quartz-sulphide texture is also seen at the nearby bonanza-grade Ag-Au Martha mine.

The mineralized vein breccia structures at Resolution are hosted within a porphyritic dacite unit delineated by geological mapping and by a plus 600 m diameter resistivity anomaly in the pole dipole (PDP) electrical geophysical ground survey. The dacite dome may represent part of a larger area Jurassic-aged subvolcanic dome complex at the prospect. The prospect-scale structural setting, combined with brittle host rocks like the dacite dome, is conducive to development of down-dip and along strike pinch and swell veins typical of epithermal deposits. Potential sites of vein blowouts would be the target of any future drill testing at the project.

The PDP electrical geophysical survey has also defined a 1.4 km long, eight-to-25-millisecond chargeability anomaly, that in plan and section lies along the down-dip projection of the outcropping vein breccias. Chargeability anomalies of this magnitude often indicate the presence of sulphide mineralization and, in this case, are interpreted by Mirasol to suggest that below the depth of surface oxidation, the vein breccia zone may be sulphide-bearing and potentially have a disseminated sulphide halo in the surrounding wall rock. These chargeability anomalies represent high-priority targets for drill testing at the Resolution trend.

Mirasol interprets the Nico mineralization to potentially be an example of a Ag-Au rich epithermal intermediate sulphidation precious metal system. This class of mineralization has produced multimillion-ounce high-grade Au-Ag vein style ore bodies in Santa Cruz province, including Cerro Moro (Yamana Gold) and San Jose (Hochschild Mining/McEwen Mining) mines, as well as smaller, bonanza-grade mines such as Martha (Hunt Mining).

The Nico project is located in an area of active mining and precious metal ore processing, approximately 85 kilometres from the Manantial Espejo mine (Pan American Silver), and 45 km from Martha (Hunt Mining). Pan American Silver also recently purchased the Cap-Oeste Sur Este (COSE) project and is working toward developing this and the Joaquin Au-Ag satellite deposit which are located 160 km and 130 km respectively from Manantial Espejo. Pan American plans to truck ores mined at COSE and Joaquin through Mirasol's Nico project properties to the Manantial Espejo mine facilities for processing. Nico is well positioned to benefit from Pan American's announced development and processing plans.

Mr. Nano, president and chief executive officer of Mirasol, has approved the technical content of this news release and is a qualified person under National Instrument 43-101.

Quality assurance/quality control of the Nico exploration program:

All exploration on the project was supervised by Mirasol chief executive officer Mr. Nano, who is the qualified person under NI 43-101. Mirasol applies industry-standard exploration sampling methodologies and techniques. All geochemical soil, stream, rock and drill samples are collected under the supervision of the company's geologists in accordance with industry practice. Geochemical assays are obtained and reported under a quality assurance and quality control (QA/QC) program. Samples are dispatched to an ISO 9001:2008 accredited laboratory in Argentina for analysis. Assay results from surface rock, channel, trench and drill core samples may be higher, lower or similar to results obtained from surface samples due to surficial oxidation and enrichment processes or due to natural geological grade variations in the primary mineralization.

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