Mr. Kosta Tsoutsis reports

K9 GOLD PROVIDES CORPORATE UPDATE

K9 Gold Corp. has received, at its recent annual general meeting of shareholders, shareholder approval of its new share-based compensation plan and has further received regulatory approval of the plan.

Full details and a copy of the plan were contained in the company's information circular for its recent annual general meeting and were filed on SEDAR under the company's issuer profile. All resolutions concerning the plan which were proposed at the AGM were approved by shareholders.

The plan is a share-based compensation plan pursuant to which up to an aggregate of 10 per cent of the company's common shares issued and outstanding may be reserved for issuance under the plan for stock options on a rolling basis with a fixed number being reserved for each of restricted share units (RSUs) and performance share units (PSUs). At this time, no RSUs or PSUs are authorized for issuance under the plan, and this cannot be amended without both shareholder and TSX Venture Exchange approval.

The plan replaces the company's existing stock option plan and no further stock options or other awards will be granted under the previous plan. Outstanding options and other awards under the previous plan are now continued under the plan.

As of the date hereof, 6,875,000 shares are reserved for issuance (representing 7.9 per cent of the current issued and outstanding shares of the company) pursuant to options already granted and outstanding pursuant to the previous plan.

About K9 Gold Corp.

K9 Gold has assembled a highly experienced and dynamic team to explore its JB lithium project. K9 also operates the Stony Lake gold project in central Newfoundland. The project has been acquired from District Copper Corp. by an option agreement, whereby K9 can earn up to a 100-per-cent interest in the project (see the company's news release dated July 30, 2020). The company also owns a 100-per-cent interest in the Desert Eagle vanadium-uranium project, located in the historic Henry Mountains mining district in southeast Utah. The area has seen extensive historic vanadium and uranium mining and is close to Anfield Energy Inc.'s Shootaring Canyon mill. To ensure a safe workplace environment that protects the health and safety of employees and contractors, K9 Gold follows all federally and provincially mandated and recommended guidelines regarding COVID-19.

Chris M. Healey, PGeo, chief geologist and a director of K9, is the qualified person under National Instrument 43-101 guidelines who is responsible for the technical content of this release and approves its release.

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