Toronto, Ontario. – October 22, 2020 – Roscan Gold Corporation (“Roscan” or the “Company”) (TSX-V: ROS; FSE:2OJ; OTC:RCGCF) is pleased to announce a New Major Gold Discovery at Walia from the ongoing regional exploration program (Figure 1). This new Mineralized Trend extends for an estimated 1,500m to date, and returned high-grades of 21.4gpt over 8m including 77.8gpt over 2m very close to surface (Table 1). This new discovery is open in all directions.

Air Core Drilling Highlights – Walia:

• 21.4 gpt gold over 8m from drill hole ACDBS20-395 from 26m
  • Including 77.8 gpt gold over 2m from 30m

• 11.4 gpt gold over 2m from drill hole ACDBS20-228 from 0m

• 7.96 gpt gold over 2m from drill hole ACDBS20-144 from 2m

• 4.05 gpt gold over 4m from drill hole ACDBS20-221 from 34m

• 3.59 gpt gold over 4m from drill hole ACDBS20-418 from 30m

• 3.06 gpt gold over 2m from drill hole ACDBS20-140 from 2m

• 2.78 gpt gold over 2m from drill hole ACDBS20-158 from 6m

• 2.43 gpt gold over 4m from drill hole ACDBS20-406 from 22m

• 2.31 gpt gold over 2m from drill hole ACDBS20-325 from 18m

• 2.20 gpt gold over 4m from drill hole ACDBS20-407 from 14m

• 2.19 gpt gold over 4m from drill hole ACDBS20-204 from 8m

• 1.95 gpt gold over 6m from drill hole ACDBS20-047 from 8m

• 1.89 gpt gold over 8m from drill hole ACDBS20-144 from 14m
  • Including 4.47 gpt gold over 2m from 14m

• 1.37 gpt gold over 4m from drill hole ACDBS20-143 from 40m

Notes: 1: True width yet to be determined, 2: Table 1 – Assay Highlights, 3: No top-cut 4: All holes are -50 degree Inclination 5: 2m internal dilution.

Nana Sangmuah, President and CEO, stated, “This new discovery on our recently acquired ground validates our strategic thinking and highlights the positive potential of our entire land package. Follow up diamond and RC drilling will commence on this target to establish the depth and boundaries of the mineralization applying a similar strategy being undertaken at Kandiole North and Mankouke South targets.

We are very encouraged by the progress being made to convert our high priority targets into discoveries. More exploration work is also rapidly progressing on our other key regional targets with the goal of making additional discoveries. Continued success should highlight the multi-million ounce potential of our land package and emphasize the discovery phase of our equity life cycle typically associated with outsized equity returns. We expect that the District and Roscan Gold will become one of the major focuses of the gold sector in 2020/21.

At present we are diamond drilling at Mankouke South, as well as other target areas of the land package, and will update the market with drill results in the near future. In October, we will be conducting a high-resolution Airborne Survey to confirm and further define Regional Structures.”

These initial 446 AC holes allowed us to observe consistent high grades over a significant interval of 1,500m and the fact that several of the AC holes ended in mineralization bodes extremely well for follow up RC and DD drilling, as well as additional step-out drilling to extend the trend beyond 1,500m and potentially find more new mineralized structures in the surrounding area.

Figure 1: Plan View delineating the New Major Gold Discovery at Walia

Figure 2: Plan View Confirmed 1,500m Trend of Mineralization at Walia

Figure 3: Plan View of Walia with High Grade Intercepts

• Drill hole ACDBS20-221 with 4m @ 4.05 gpt to ACDBS20-047 with 6m @ 1.95 gpt lies within a potential mineralized zone of approximately 1,500m. We will continue to drill to clearly define the extents.

Drilling Contract and Analytical Protocol

The drilling contracts were awarded to Target Drilling SARL and Geodrill who both employ multi-purpose (AC/RC/DD) rig and AC rigs at the Kandiole Project. The AC drilling is mainly focused on drilling exploration targets. Roscan applied industry-standard QA/QC procedures to the program. Certified reference materials, blanks and field duplicates are inserted at appropriate intervals.

The samples are sent for preparation to Bureau Veritas Mineral Laboratories in Bamako, Mali and assayed at their analytical facilities in Bamako and in Abidjan, Ivory Coast with fire assay with atomic absorption finish and by gravimetric finish for grades above 10gpt Au.

Table 1: Drillhole Dataset at Walia – New Major Discovery

Hole ID	From (m)	To (m)	Interval (m)	gpt Au	Comment
ACDBS20-001	26	28	2	0.90
	36	38	2	2.23
ACDBS20-042	2	4	2	1.76
ACDBS20-047	8	14	6	1.95
	8	10	2	4.95
ACDBS20-048	48	50	2	0.80	EOH
ACDBS20-059	18	20	2	0.63
ACDBS20-102	28	30	2	0.50
ACDBS20-116	28	30	2	0.52
ACDBS20-129	24	26	2	0.65
ACDBS20-136	22	24	2	0.62
ACDBS20-140	2	4	2	3.06
ACDBS20-142	24	26	2	0.97
ACDBS20-143	10	12	2	0.62
	40	44	4	1.37
ACDBS20-144	2	4	2	7.96
	14	22	8	1.89
	14	16	2	4.47
	34	46	12	0.74
ACDBS20-145	44	46	2	1.69
ACDBS20-146	24	26	2	0.50
ACDBS20-150	10	12	2	0.56
ACDBS20-156	20	22	2	0.57
	28	30	2	2.10
	48	50	2	0.55	EOH
ACDBS20-157	6	8	2	1.00
ACDBS20-158	6	8	2	2.78
	24	26	2	0.63
ACDBS20-172	18	20	2	0.59
ACDBS20-201	42	44	2	0.50
ACDBS20-204	8	12	4	2.19
ACDBS20-208	44	46	2	0.65
ACDBS20-220	8	12	4	1.00
ACDBS20-221	34	38	4	4.05
ACDBS20-228	0	2	2	11.4
	28	30	2	0.80
ACDBS20-236	36	38	2	0.50
ACDBS20-239	2	4	2	1.58
ACDBS20-261	6	8	2	0.53
ACDBS20-296	44	46	2	0.73
ACDBS20-299	42	44	2	0.63
ACDBS20-304	24	26	2	0.50
ACDBS20-325	18	20	2	2.31
ACDBS20-326	32	34	2	2.33
ACDBS20-334	16	18	2	0.67
ACDBS20-335	38	40	2	0.83
	48	50	2	0.60	EOH
ACDBS20-380	10	12	2	0.54
ACDBS20-391	32	34	2	1.01
	40	48	8	0.93
ACDBS20-392	14	20	6	0.61
	34	36	2	1.96
ACDBS20-393	18	26	8	0.98
ACDBS20-395	26	34	8	21.4
	30	32	2	77.8
	40	42	2	0.56
ACDBS20-399	16	18	2	1.25
	40	42	2	0.88
ACDBS20-400	14	16	2	1.24	EOH
ACDBS20-401	16	18	2	0.76
	44	46	2	1.25
ACDBS20-402	32	34	2	0.72
	46	48	2	0.65
ACDBS20-403	24	26	2	1.75
ACDBS20-405	6	8	2	1.50
ACDBS20-406	22	26	4	2.43
ACDBS20-407	14	18	4	2.20
ACDBS20-415	12	14	2	2.00
ACDBS20-416	4	6	2	0.78
ACDBS20-417	26	28	2	0.55
	36	42	6	0.93
ACDBS20-418	30	34	4	3.59
	38	40	2	0.54
ACDBS20-434	12	14	2	0.55

Table 2: Drillhole Dataset at Collars, Azimuth and Dip

Hole ID	X Collar	Y Collar	Section	AZM	DIP
ACDBS20-001	262553	1397801	1397800	90	-50
ACDBS20-042	261875	1397796	1397800	90	-50
ACDBS20-047	261751	1397800	1397800	90	-50
ACDBS20-048	261725	1397802	1397800	90	-50
ACDBS20-059	261701	1397498	1397500	90	-50
ACDBS20-102	260674	1397498	1397500	90	-50
ACDBS20-116	262524	1398499	1398500	270	-50
ACDBS20-129	262676	1398500	1398500	270	-50
ACDBS20-136	262175	1398563	1398500	270	-50
ACDBS20-140	262101	1398499	1398500	270	-50
ACDBS20-142	262052	1398500	1398500	270	-50
ACDBS20-143	262027	1398498	1398500	270	-50
ACDBS20-144	261996	1398500	1398500	270	-50
ACDBS20-145	261976	1398500	1398500	270	-50
ACDBS20-146	261952	1398502	1398500	270	-50
ACDBS20-150	262201	1398998	1399000	270	-50
ACDBS20-156	262054	1399000	1399000	270	-50
ACDBS20-157	261977	1399002	1399000	270	-50
ACDBS20-158	262002	1399004	1399000	270	-50
ACDBS20-172	262548	1399000	1399000	270	-50
ACDBS20-201	262327	1399201	1399200	270	-50
ACDBS20-204	262401	1399199	1399200	270	-50
ACDBS20-208	262497	1399205	1399200	270	-50
ACDBS20-220	262050	1399200	1399200	270	-50
ACDBS20-221	262067	1399203	1399200	270	-50
ACDBS20-228	262799	1399198	1399200	270	-50
ACDBS20-236	263001	1399201	1399200	270	-50
ACDBS20-239	263074	1399200	1399200	270	-50
ACDBS20-261	263095	1399352	263100	360	-50
ACDBS20-296	262724	1398674	262725	360	-50
ACDBS20-299	262725	1398602	262725	360	-50
ACDBS20-304	262725	1398450	262725	360	-50
ACDBS20-325	262401	1399275	262400	360	-50
ACDBS20-326	262401	1399250	262400	360	-50
ACDBS20-334	262405	1399048	262400	360	-50
ACDBS20-335	262401	1399024	262400	360	-50
ACDBS20-380	261994	1399198	262000	360	-50
ACDBS20-391	262002	1399148	262000	360	-50
ACDBS20-392	262028	1399199	1399200	270	-50
ACDBS20-393	261998	1398975	262000	360	-50
ACDBS20-395	262003	1399026	262000	360	-50
ACDBS20-399	262000	1398825	262000	360	-50
ACDBS20-400	262002	1398851	262000	360	-50
ACDBS20-401	262000	1398857	262000	360	-50
ACDBS20-402	262002	1398882	262000	360	-50
ACDBS20-403	262001	1398905	262000	360	-50
ACDBS20-405	261999	1398952	262000	360	-50
ACDBS20-406	262005	1398504	262000	360	-50
ACDBS20-407	262006	1398528	262000	360	-50
ACDBS20-415	262000	1398725	262000	360	-50
ACDBS20-416	262001	1398749	262000	360	-50
ACDBS20-417	262000	1398774	262000	360	-50
ACDBS20-418	262000	1398800	262000	360	-50
ACDBS20-434	262401	1398675	262400	360	-50

Qualified Person (QP) and NI43-101 Disclosure
Greg Isenor, P. Geo., Executive Vice-Chairman for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.

About Roscan
Roscan Gold Corporation is a Canadian gold exploration company focused on the exploration and acquisition of gold properties in West Africa. The Company has assembled a significant land position of 100%-owned permits in an area of producing gold mines (including B2 Gold’s Fekola Mine which lies in a contiguous property to the west of Kandiole), and major gold deposits, located both north and south of its Kandiole Project in West Mali.

For further information, please contact:

Dr. Andrew J. Ramcharan, P.Eng
Executive Vice President – Corporate Development
Tel: (416) 572-2295
Email: aramcharan@Roscan.ca

Greg Isenor, P.Geo
Executive Vice-Chairman
Tel: (902) 902-221-2329
Email: gpisenor@Roscan.ca

Forward Looking Statements
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company’s management’s discussion and analysis as filed under the Company’s profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

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.