Mr. Clyde Wesson reports

OTSO ANNOUNCES 30 DAY EXTENSION TO CLOSE THE US$11 MILLION STRATEGIC INVESTMENT BY BRUNSWICK GOLD LTD

Otso Gold Corp. has obtained a 30-day extension from the TSX Venture Exchange to close its $11-million (U.S.) private placement of units to Brunswick Gold Ltd. The TSX-V's initial conditional approval, granted to Otso on Dec. 21, 2020, required the financing to close on or before Jan. 28, 2021. To allow for the clearance of various personal information forms (PIFs) filed by the Brunswick Gold principals in connection with Brunswick Gold becoming a new control person of the company (as such term is defined in the policies of the TSX-V), the TSX-V has extended the outside date to complete the financing to Feb. 22, 2021. Upon the clearance of such PIFs, the company intends to complete the financing as expeditiously as possible.

About Otso Gold Corp.

Otso wholly owns the Otso gold mine near the town of Raahe in Finland. The Otso gold mine is developed, is fully permitted, has all infrastructure in place and two open pits, and is progressing toward production in 2021 to process ore at nameplate capacity of two million tonnes per annum.

We seek Safe Harbor.