Roscan Gold Discovers Major New Gold Mineralized Trend at Kandiole North, Including a 1,500m Gold Mineralized Strike Length

Toronto, October 5, 2020 - RosCan Gold Corp. (TSXV: ROS) (FSE: 2OJ) (OTC Pink: RCGCF) ("Roscan" or the "Company") is pleased to announce that recent exploration results have outlined a Newly Discovered Mineralized Trend (Figure 1), which contains the Kandiole North Discovery (KN1) (Figure 2). This new Major Mineralized Trend lies parallel to the Major Mankouke Trend. Kandiole North (KN1)(Figure 3), which is the first of potentially many gold bearing mineralization zones within this new trend, extends for an estimated 1,500m to date, and returned high grades very close to surface (Table 1).

The 1,500m mineralized zone at Kandiole North is open in all directions and Figure 3 shows the potential to extend it another 2,000m with further drilling. There are 2 additional very exciting but early stage high-grade zones to the South East (KN2) and South West (KN3) of Kandiole North (Figure 1). We will be following up on these new finds and testing multiple targets along this new trend of mineralization at Kandiole North. While very early stage, there is another potential mineralized trend which potentially extends approximately 6km from the Kandiole SE Zone (KN2) to Kabaya Target (Figure 1 & Figure 2).

Key Major New Discovery Highlights:

• Kandiole North Major Gold Mineralization Trend
• Kandiole North Zone (KN1) of 1,500m and potential extension to 3,500m
• KN 2 and KN 3 Zones with high grades
• Kandiole North Parallel Trend (KN2 Zone to Kabaya) which is approximately 6km

Air Core Drilling Highlights - Kandiole North Zones:

• 53.6 gpt gold over 2m from drill hole ACKAN20-350 from 14m

• 24.0 gpt gold over 2m from drill hole ACKAN20-345 from 10m

• 8.76 gpt gold over 4m from drill hole ACKAN20-826 from 7m
  • Including 33.4gpt over 1m from 7m
• And 1.96 gpt gold over 14m from 15m
  • Including 4.70gpt over 4m from 25m

• 7.48 gpt gold over 2m from drill hole ACKAN20-547 from 36m

• 4.56 gpt gold over 2m from drill hole ACKAN20-552 from 16m

• 3.02 gpt gold over 2m from drill hole ACKAN20-782 from 20m

• 2.51 gpt gold over 16m from drill hole ACKAN20-471 from 24m

• 2.03 gpt gold over 14m from drill hole ACKAN20-647 from 36m
  • Including 6.66 gpt gold over 2m from 40m

• 1.86 gpt gold over 12m from drill hole ACKAN20-646 from 36m

• 1.73 gpt gold over 6m from drill hole ACKAN20-644 from 40m

• 1.67 gpt gold over 4m from drill hole ACKAN20-741 from 46m

• 1.58 gpt gold over 10m from drill hole ACKAN20-603 from 34m

• 1.52 gpt gold over 14m from drill hole ACKAN20-787 from 34m

• 1.19 gpt gold over 8m from drill hole ACKAN20-499 from 34m

• 1.14 gpt gold over 4m from drill hole ACKAN20-637 from 24m

• 1.14 gpt gold over 6m from drill hole ACKAN20-788 from 6m

Notes: 1: True width yet to be determined, 2: Table 1 - Assay Highlights, 3: No top-cut 4: All holes are 270 degree Azimuth and -50 degree Inclination 5: 2m internal dilution.

Nana Sangmuah, President and CEO, stated, "We are excited by the very positive exploration results received to date on this newly outlined major trend outside our main Mankouke South Discovery. The identification of several mineralized structures on our Kandiole North tenement confirms the significant potential of our land package. We are encouraged by the progress being made to turn our priority targets into discoveries.

There are multiple targets within this large trend and confirming this initial 1,500m of mineralization is a great start as we continue to follow up with RC and DD to establish the boundaries of the mineralized structures. Additionally, the two very high-grade zones KN2 and KN3 of the Kandiole North Mineralization Trend are very encouraging and our technical team on the ground is very excited about the overall potential of the Kandiole North Permit."

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.

To evaluate our high priority Regional Targets such as Kandiole North, we are adopting the same procedures as our Mankouke South Discovery, using Air Core drilling to first test the termite anomalies. When significant results are returned, such as seen at Southern Mankouke and now at Kandiole North, additional follow up AC fence drilling will be done to define strike and grade consistency of mineralization. RC and DD are subsequently initiated to determine depth potential.

These initial 499 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 Newly Mineralization Regional Trend and Mankouke Trend

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4821/65112_9bdea30434ae29fd_001full.jpg

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

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4821/65112_9bdea30434ae29fd_003full.jpg

Figure 3: Plan View of Kandiole North with High-Grade Intercepts

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/4821/65112_9bdea30434ae29fd_004full.jpg

Figure 4: Extent of small scale miners (artisanal) at Kandiole North (Pit and Adit Activities)

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/4821/65112_9bdea30434ae29fd_005full.jpg

• Drill hole ACNan20-350 (KN 2) intersected one of the highest gram meters (53.6gpt over 2m) to date at Kandiole North. This drill hole, when coupled with other high-grade drill holes, shows the persistent high-grade potential of the Kandiole North permit.

• Drill hole ACKan20-834 with 19m @ 1.23 gpt and 5m @ 2.54 gpt to ACKan20-787 with 14m @ 1.52gpt lies within a potential mineralized zone of approximately 1,500m. We will continue to drill to clearly define the extents.

• Drill hole ACKan20-834 with 19m @ 1.23 gpt and 5m @ 2.54 gpt to ACKan20-039 with 4m @ 11.3gpt suggests a mineralized trend of approximately 3,500m. These holes identify the potential of the deposit to be extended and we will continue to drill to clearly define the extents.

• Small scale artisanal mining activities signify the magnitude of this new Major Trend and extension.

• The New Trend from Kandiole North SE Zone to Kabaya Target, while very early stage warrants additional drilling to connect these two confirmed zones which is approximately 6km.

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 Kandiole North Zones - Newly Discovered Mineralization Trend

Table 2: Drillhole Dataset at Collars, Azimuth and Dip

Qualified Person (QP) and NI 43-101 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 Corp. 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:

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/65112