Doubleview Closes ($1,774,000), First Tranche of Financing

VANCOUVER, October 22, 2020 - Doubleview Gold Corp. ("Doubleview") (TSXV:DBG)(OTC PINK:DBLVF)(FRANKFURT:1D4) is pleased to announce it has closed its first tranche of its previously announced non-brokered flow-through and non-flow-through private placement for gross proceeds of $1,774,000 supported by Institutional Investors, Delbrook Capital and Strategic Resource Capital Fund.

Under the first tranche, Doubleview has issued a total of 4,545,455 flow-through units (the "FT Units") at a price of $0.33 per flow-through unit for total gross proceeds of $1,500,000. Each FT Unit consists of one common share issued as a flow-through common share and one half of one non-transferable share purchase warrant (a "Warrant"), with each whole Warrant exercisable at $0.40 per share for a period of two years from the date of issue.

The Company also issued 1,245,455 units (the "Units") at a price of $0.22 per Unit for total proceeds of $274,000. Each Unit consists of one common share and one non-transferable share purchase warrant (a "Warrant"), with each Warrant exercisable at $0.40 per share for a period of two years from the date of issue.

The proceeds of the financing will be used for exploration work on the Hat Project and general administration.

The securities issued under the first tranche will be subject to restrictions on resale for 4 months and a day, pursuant to applicable Canadian securities laws and the rules of the TSX Venture Exchange.

About Doubleview Gold Corp

Doubleview Gold Corp., a mineral resource exploration and development company, is based in Vancouver, British Columbia, Canada, and is publicly traded on the TSX Venture Exchange [TSX-V: DBG]. Doubleview identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia. Doubleview increases shareholder value through acquisition and exploration of quality gold, copper and silver properties and the application of advanced state-of-the-art exploration methods. Doubleview's portfolio of strategic properties provides diversification and mitigates investment risk.

On behalf of the Board of Directors,
Farshad Shirvani, President & Chief Executive Officer

For further information please contact:

Doubleview Gold Corp.
Vancouver, BC Farshad Shirvani
President & CEO
T: (604) 678-9587
E: corporate@doubleview.ca

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Forward-Looking Statements

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Doubleview cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Doubleview's control. Such factors include, among other things: risks and uncertainties relating to Doubleview's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Doubleview undertakes no obligation to publicly update or revise forward-looking information.

NEITHER 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.

SOURCE: Doubleview Gold Corp.