Magna Gold Corp. Announces Fiscal Year-End Change

TORONTO, Nov. 30, 2020 - Magna Gold Corp. (TSXV: MGR) (OTCQB: MGLQF) ("Magna" or the "Company") is pleased to announce a fiscal year-end change from March 31 to December 31. This change will align the fiscal year-end of the Company with that of its subsidiaries, Molimentales del Noroeste, S.A. de C.V., LM Mining, S.A. de C.V. and Minera Magna, S.A. de C.V., which are required to have fiscal periods for Mexican tax purposes ending on December 31. With this change, the Corporation's current fiscal year, which began on April 1, 2020, will end December 31, 2020. The notice of change of year-end required under National Instrument 51-102 – Continuous Disclosure Obligations will be filed under the Company's profile at www.sedar.com.

About Magna Gold Corp.

Magna Gold Corp. is a Canadian gold company engaged in operations, development, exploration and acquisitions in Mexico. Its primary asset is the producing San Francisco gold mine in Sonora, Mexico and exploration stage projects include San Judas, La Pima and Mercedes.

The Company's shares trade on the TSXV under the trading symbol "MGR" and OTCQB under the trading symbol "MGLQF". Magna is well integrated into its nearby communities, employs local residents, and uses local services when possible.

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.

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SOURCE Magna Gold Corp.