Mr. Giulio Bonifacio reports

KERR MINES ANNOUNCES CDN$2.5 MILLION PRIVATE PLACEMENT

Kerr Mines Inc. proposes to offer on a non-brokered private placement basis up to 18 million units of the company offered at 14 cents per unit for total gross proceeds of up to $2.5-million.

Each unit will consist of one common share in the capital stock of the company and one common share purchase warrant, with each warrant entitling the holder thereof to purchase one common share at a price of 21 cents for a period of 24 months from the closing of the offering, provided that if, at any time the common shares trade on a stock exchange at a volume-weighted average trading price of 30 cents or greater for a period of 20 consecutive trading days, the company may accelerate the expiry date of the warrants by giving notice to the holders thereof and in such case the warrants will expire on the 30th calendar day after the date on which such notice is given by the company.

The net proceeds from the offering will be used to finance the next phase of drilling and to further advance detailed engineering, including further optimization, all toward the objective of restarting production on the company's high-grade Copperstone gold project in the near term.

The offering is scheduled to close on or about Feb. 28, 2020, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange.

About Kerr Mines Inc.

Kerr Mines is an emerging American gold producer currently advancing the 100-per-cent-owned, fully permitted, past-producing Copperstone mine project to production. Copperstone is a high-grade gold project located along a detachment fault mineral belt located in mining-friendly Arizona.

We seek Safe Harbor.