Solstice Announces Closing of Raised $ 2.3 Million Private Deal

VANCOUVER, British Columbia, December 31, 2021 (GLOBE NEWSWIRE) – Solstice Gold Corp. (TSXV: SGC) (“Solstice“”, “we”, “our” or the “Society“) is pleased to announce that it has completed its previously announced private placement financing (the”Offer“) on Friday, December 31, 2021 (the”Closing Date“), for gross proceeds of approximately $ 2,322,181 from the issuance of 10,096,441 common shares of the Company (the”Flow-through shares“) eligible as flow-through shares for the purposes of Income Tax Act (Canada) (the “ITAAt a price of $ 0.23 per flow-through share, which represents an increase over the previously announced gross proceeds of $ 1.5 million from the offering.

The gross proceeds from the placement will be used by the Company to finance exploration programs qualified as “exploration expenses in Canada” and “flow-through mining expenses”, as these terms are defined in the Tax Act for the mining projects of the Company in Ontario.

The offering has been made in reliance on available exemptions from the prospectus requirements of applicable securities legislation. All securities issued under the offering are subject to a hold period of four months and one day from the closing date in accordance with applicable Canadian securities laws.

In connection with the placement, the Company paid finder’s fees in the amount of $ 42,986 and 186,896 non-transferable warrants (“Research mandates“) Each exercisable against one common share of the Company at $ 0.23 for 18 months from the closing date at Leede Jones Gables Inc. and $ 1,840 and 8,000 finder’s warrants at Securities Laurentian Bank Inc.

The securities mentioned in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or at, or on behalf of or for the benefit of United States persons without United States registration or an applicable exemption from United States registration requirements. This press release does not constitute an offer to sell securities, nor a solicitation of offers to purchase securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the Company and management, as well as financial statements.

About Solstice Gold Corp.

Solstice is a gold exploration company with high quality district scale projects in established mining regions of Canada. Our 174 km2 The Red Lake property is located on the northern reaches of the prolific Red Lake gold district in Ontario. The RLX gold project is located approximately 45 km from the Red Lake mine complex owned by Evolution Mining. Our district-wide Qaiqtuq gold project covers 886 km2 with certain other rights covering an adjacent territory of 683 km2, accommodates a 10 km2 gold block field and is fully licensed with several targets ready for drilling. Qaiqtuq is located in Nunavut, Canada, just 26 km from Rankin Inlet and approximately 7 km from the Meliadine gold deposits owned by Agnico Eagle Mines Limited. Our newly trained 225 km2 The Atikokan gold project is located in the Thunder Bay mining district. Solstice has approximately 152 million shares outstanding.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

On behalf of Solstice Gold Corp.
Mike Timmins
Chief executive officer

For more information about Solstice Gold Corp., please visit our website at www.solsticegold.com or contact:

Telephone: (604) 283-7234

[email protected]

Caution regarding forward-looking statements and information

This press release contains certain forward-looking statements (“FLS”), including, but not limited to, the use of the proceeds of the offering and the length of time that all securities are held in connection with the offering. FLS can often be identified by forward-looking words such as “approximate or (~)”, “emerging”, “goal”, “plan”, “intention”, “estimate”, “expect”, “potential”, “Expected”, “may” and “will” or similar words suggesting future results or other expectations, beliefs, plans, goals, assumptions, intentions or statements regarding future events or performance. Actual results or developments may differ materially from those of forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by laws on applicable securities.

Because forward-looking information deals with future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently expected due to a number of factors and risks. These include, without limitation, that the use of the proceeds of the Offering may differ due to unforeseen circumstances and general risks relating to the business of the Company, including there can be no assurance that the continuation of the exploration on the Solstice exploration projects, all of which are at an early stage of exploration, will lead to the discovery of an economic gold deposit, the future impacts of the COVID 19 pandemic, and the government’s response to a such pandemic, to the Company’s ability to continue to explore its projects during the pandemic and to the risk of future lack of resources access to projects as a result, delays in obtaining or failure to obtain approvals governmental, environmental or other, inability to locate source rocks, inflation, fluctuations in exchange rates, fluctuations in raw material prices, delays in project development, regulatory approvals elementary and other factors. FLS is subject to risks, uncertainties and other factors that could cause actual results to differ materially from expected results.


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