Mr. Jason Attew reports

GOLD STANDARD VENTURES REPORTS 2020 ANNUAL RESULTS

Gold Standard Ventures Corp. has released its audited consolidated financial results for the year ended Dec. 31, 2020. For details of the audited consolidated financial statements, management's discussion and analysis, annual information form, and Form 40-F for the year ended Dec. 31, 2020, please see the company's filings on SEDAR and EDGAR.

Jason Attew, president and chief executive officer, commented: "Gold Standard had another busy year in 2020, outlining an updated PFS for the South Railroad project, reporting an initial mineral resource estimate at the Lewis project, partnering with a renowned mine financier in Orion Mine Finance, completing our 2020 drill program focused on adding to existing mineral reserves and advancing our permitting application in Nevada.

"I would like to take this opportunity to thank the hard-working team of people working together to advance the company forward. I also want to thank all of our shareholders who continue to support us as we continue towards the development of the South Railroad project."

2020 and recent highlights:

• At the end of 2020, Gold Standard staff had worked 3,262 consecutive days without a lost-time accident. Primary field contractors worked over 55,290 consecutive hours in 2020 without a lost-time accident.
• On Feb. 18, 2020, the company announced an updated prefeasibility study for the South Railroad project (SRP), outlining an eight-year mine life with average gold production of 115,000 ounces per year at all-in sustaining costs of $707 (U.S.) per ounce, producing an after-tax NPV (net present value) (5 per cent) of $265-million (U.S.) and an IRR (internal rate of return) of 40.0 per cent at a gold price of $1,400 (U.S.) per ounce.
• On May 5, 2020, the company announced an initial mineral resource estimate for the Virgin deposit at the Lewis project. Inferred mineral resources of 205,827 ounces of gold and 3,537,268 ounces of silver contained in 7.74 million tonnes at a grade of 0.83 gram per tonne gold and at a grade of 14.22 grams per tonne silver. The company believes that the Virgin deposit is a continuation of the Phoenix-Fortitude mineralization currently being mined by Nevada Gold Mines at the Phoenix mine to the south of the Lewis project.
• On July 16, 2020, the company announced a strategic partnership with Orion Mine Finance for $22.5-million (U.S.). As part of the partnership, Orion purchased approximately $20.5-million (U.S.) of shares in Gold Standard through treasury ($5.9-million (U.S.)) and secondary ($14.6-million (U.S.)) purchases, entered into a silver streaming agreement to purchase 100 per cent of the silver production from the SRP and Jasperoid Wash deposit at a price of 15 per cent of the prevailing price for silver in exchange for $2.0-million (U.S.), and agreed to provide Gold Standard with a term sheet to provide up to $200-million (U.S.) of financing support to the company to help finance the construction of the SRP.
• In August, 2020, the company established an at-the-market equity program (ATM) whereby it issued 15 million common shares for aggregate gross proceeds of $15,678,000. The company terminated the ATM in September, 2020.
• In October and November, 2020, the company announced drill results at the Pinion and Dark Star deposits, as well as the LT target. Highlights include decreased drill spacing at Pinion with the goal of converting inferred mineral resources to measured and indicated mineral resources, stepout drilling at Main Dark Star expanding mineralization to the east, and regional property exploration at the LT target located near the plan-of-operation boundary of the SRP.
• On Nov. 6, 2020, the company reported that it submitted its plan of operations to the Federal Bureau of Land Management (BLM), outlining the company's plans to build and operate the proposed SRP, located in Elko county, Nevada. This submission is a key step that initiates the project permitting process.
• On Dec. 2, 2020, the company announced the appointment of Mr. Attew as president and CEO, succeeding Jonathan Awde. In connection with his appointment as president and CEO, Mr. Attew subscribed for one million common shares of the company for aggregate proceeds of $854,000 through a non-brokered private placement.
• On Jan. 5, 2021, the company announced the reconstitution of the senior leadership team with the appointments of Larry Radford, chief operating officer; Jordan Neeser, chief financial officer; and Michael McDonald, vice-president, corporate development and investor relations. Combined with the CEO change, four senior executives were appointed, and four senior executives departed.
• On Feb. 1, 2021, the company's plan of operations was deemed complete by the BLM. Having the plan of operations ruled complete by the BLM allows the company to commence the environmental impact statement process pursuant to the National Environmental Policy Act.
• On Feb. 17, 2021, the company completed a bought deal financing of 39,215,000 common shares at a price of 88 cents per share for gross proceeds of $34.5-million. The net proceeds from the financing will be used for development, permitting, exploration and general corporate purposes. The company expects to be financed through the completion of its feasibility study and be able to continue enhancing the SRP.
• On March 9, 2021, the company engaged Cutfield Freeman & Co. as construction capital financial adviser to assess all avenues of construction financing for the SRP.

Financial results for the year ended Dec. 31, 2020

The company reported a net loss of $10.7-million for the 12 months ended Dec. 31, 2020, compared with a net loss of $9.7-million for the 12 months ended Dec. 31, 2019.

Qualified persons

Steven R. Koehler, manager of projects of the company, is the company's qualified person (QP) as defined by National Instrument 43-101, and has reviewed and approved the technical contents of this news release.

About Gold Standard Ventures Corp.

Gold Standard is developing the South Railroad project, an open-pit, heap-leach gold project located in Elko county, Nevada. The project is part of a 21,000-plus-hectare land package on the Carlin trend, and is 100 per cent owned or controlled by Gold Standard. The goal of the company is to become the low-cost junior producer of choice in Nevada, one of the premier mining jurisdictions in the world.

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