Golden Tag Announces $2.0M Non-Brokered Private Placement

Toronto, Ontario, January 20, 2022: Golden Tag Resources Ltd. (“Golden Tag” or the "Company") (TSX.V: GOG) (OTCQB: GTAGF) is pleased to announce its intention to complete a non-brokered private placement pursuant to which it will sell up to 8,000,000 Units (each, a “Unit”) at a price of C$0.25 per Unit to raise aggregate proceeds of up to $2,000,000 (the “Offering”).   The Company reserves the right to increase the size of the Offering, subject to the approval of the TSX Venture Exchange (the “Exchange”).

Each Unit will consist of one common share in the capital of the Company (“Common Share”) and one-half of one Common Share purchase warrant (each, a “Warrant”).  Each whole Warrant will entitle the holder thereof to acquire one Common Share at a price of C$0.40 for 24 months following the closing of the Offering.  The Warrants will contain an acceleration provision whereby if the closing price of the Common Shares on the Exchange is $0.70 or more for 10 consecutive trading days the Company will have the right to accelerate the expiry date of the Warrants.

 In connection with the Offering, the Company may pay finders’ fees in cash or securities, or a combination of both, as permitted by the policies of the Exchange.

The securities issued and issuable pursuant to the Offering will be subject to a four month and one day hold period. The Company intends to use the net proceeds of the Offering to fund advancement of the Company’s 100% owned San Diego Project, in Durango Mexico, and for working capital and general corporate purposes. The Offering is subject to certain conditions including, but not limited to, the completion of documentation and the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and applicable securities regulatory authorities.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold to persons in the United States absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.