No Current QcX Gold Management or Directors Named in Notice of Hearing from British Columbia Securities Commission

Toronto, October 29, 2020 - QcX Gold Corp. (TSXV: QCX) (OTC Pink: QCXGF) (FSE: 21MA) ("QcX" or the "Company") announces that the British Columbia Securities Commission has issued a Notice of Hearing dated October 22, 2020, containing various allegations against the former management and former qualified person of the Company. The alleged contraventions occurred between October 2014 and November 2017. None of the allegations contained in the Notice of Hearing relate to the current directors or officers of the Company.

Since new management was appointed in October 2019, the Company's focus has been on its newly acquired properties, the Golden Giant and the Fernet Properties, located in the Province of Quebec, and no longer owns any assets in Mexico, specifically the Hilda Property.

About QcX Gold

QcX Gold is exploring for gold and VMS style mineralization on its highly prospective and well located properties in Quebec, Canada. The Golden Giant Project is located in James Bay only 2.9 km away from Azimut's discovery site - the Elmer gold project. The second Fernet Project is located in the Abitibi and is contiguous with Wallbridge Mining's Fenelon/Martiniere property. Both properties are in close proximity to major discoveries which bodes well for exploration.

For further information, please contact:

Albert Contardi
Interim Chief Executive Officer
acontardi@qcxgold.com
416-361-2832

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.

Forward-looking statements:

This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program, the expected positive exploration results, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "to earn", "to have', "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/67096