Mr. Steve Roebuck reports

HIGH TIDE RESOURCES RELEASES NI 43-101 TECHNICAL REPORT FOR ITS LABRADOR WEST PROJECT AS IRON PRICES SOAR

High Tide Resources Corp. has released its National Instrument 43-101 technical report for its Labrador West iron project. High Tide is a majority-controlled private subsidiary of Avidian Gold Corp., a company with advanced stage gold assets in Alaska and Nevada.

High Tide's president and vice-president of exploration, Steve Roebuck, states: "We are very pleased to have reached this milestone in the development of the company and the Labrador West iron project. We have gained a better understanding of the project's true potential and have checked another box in preparation to take High Tide public. We are targeting the first half of 2021. Our timing is excellent as Fe 62 per cent iron ore prices have surged to new five-year highs driven by record global demand for steel as the world begins to emerge from the global pandemic."

The National Instrument 43-101 technical report, authored by Mercator Geological Services Ltd., has been filed on SEDAR and is available on the Avidian Gold company website.

As previously reported in press release dated Nov. 11, 2020, between July and September of 2020, a total of four NQ-diameter diamond drill holes totalling 999 metres were completed at Labrador West -- assay highlights and drill hole locations can be found in the attached table. These drill holes were designed to the test the lithological and grade continuity between several key and widely spaced historical Rio Tinto Exploration Canada Inc. drill holes completed on the property from 2010 to 2012.

The Labrador West iron property comprises four mineral licences (99 mineral claims), 2,475 hectares in size. These four mineral licences are located less than 30 kilometres northeast of the town of Labrador City within the Labrador Trough in Newfoundland and Labrador. The Labrador Trough of western Labrador and Quebec constitutes Canada's premier iron-producing district and is host to major iron ore deposits that have been mined for more than half a century. Labrador West is located in close proximity to Iron Ore Company of Canada's (IOC) Carol Lake iron ore mining operations within the Sokoman formation. High Tide acquired the property in August, 2019, through an option agreement with Altius Resources Inc.

               SIGNIFICANT ASSAY RESULTS FROM LABRADOR WEST PHASE ONE DRILLING PROGRAM

Hole ID             From (m)            To (m)      Interval (m)      Total Fe (%)      Recovery (%)

20LB0056               31.5              57.2              25.7              35.3                35
20LB0056               68.0             128.0              60.0              33.8                66
20LB0057               23.3             338.0             314.7              29.6                74
20LB0058                4.5             120.2             115.7              26.9               100
20LB0058              132.8             190.0              57.2              31.0                91
20LB0059                1.8             323.3             321.5              26.8                70

Notes

* Assay composites are reported using a 15-per-cent total Fe cut-off grade.

* Minimum composite length is 10 metres.

* Maximum consecutive waste interval is 10 m.

* Composite assay intervals shown are measured core lengths and true widths are estimated to be 
  approximately 90 per cent of the reported intervals. The company and its geological consultants are 
  not aware of any drilling, sampling, recovery or other factors that could materially affect the 
  accuracy or reliability of the assay data disclosed herein. Sample recoveries vary from 3 per cent 
  to 100 per cent and samples were constrained to a minimum of 30 centimetres of rock volume. Sample 
  sizes averaged two metres with more constrained sampling as deemed necessary by the logging geologist. 
  Recoveries were estimated for composite intervals using geotechnical information recorded at time of 
  logging.

Between 2010 and 2012, Rio Tinto completed a total of 18 historical drill holes (4,227 m) on the property, and also completed various lidar and airborne magnetic, electromagnetic and gravity surveys. Rio Tinto concluded that discovering an iron ore deposit in the area with the necessary grade and tonnage to economically mine included identifying areas where structural controls such as folding and/or faulting have upgraded thinner mineralized units into a much thicker and potentially minable package. Finding these zones requires further interpretation of gravity, magnetic and drill core data, and additional diamond drilling which the company has recently commenced with phase one. All four drill holes completed to date by High Tide intersected high-grade intervals of iron predominantly oxide facies iron formation with interbedded carbonate and silicates facies iron formations. This is consistent with the results from four historical Rio Tinto drill holes located in the immediate area of the 2020 core drilling.

Qualified person statement

All scientific and technical information disclosed in this news release was prepared and approved by Steve Roebuck, PGeo, president and vice-president of exploration of High Tide Resources who is a qualified person as defined by National Instrument 43-101 and has reviewed and approved this news release.

About High Tide Resources Corp.

High Tide is a private corporation that is focused on, and committed to, the development of advanced-stage mineral projects in Canada using industry best practices combined with a strong social licence from local communities. It has a disciplined and veteran management team of technical and business-oriented professionals that is advancing its Labrador West iron property located in Newfoundland and Labrador, Canada. High Tide is majority owned by Avidian Gold Corp.

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