Roscan Gold Acquires Key Land Package on Northern Boundary of Its Kandiole Project

TORONTO, February 16, 2021 - RosCan Gold Corp. ("Roscan" or the "Company") (TSX-V:ROS)(FSE:2OJ)(OTC PINK:RCGCF) is pleased to announce that the Company has strategically expanded its land package of the Kandiole Project, by acquiring the permit to the immediate North-West of the Walia and Moussala major discoveries (Figure 1). This new permit, called Segondo West is a crucial additional 42km square kilometers to the Kandiole Project, for a total land package of 346.8 square kilometers, making Roscan one the largest land holders in the area.

Nana Sangmuah, President and CEO, stated, "We are delighted to continue to increase our footprint in Mali, as we are getting a better understanding and knowledge of this world class under-explored region. This new acquisition is both strategic and critical, with its proximity to the Walia and Moussala Discoveries. We await the complete 3D interpretation and results of geophysics to complete our prioritization of key targets that will create maximum value in 2021. The 3D target delineation and prioritization exercise would refine our existing targets, define new targets and significantly enhance our already impressive discovery rate. We are looking forward, with optimism, to a promising 2021.

Our vision is to become a major player in the area and continue to increase our footprint, while working collaboratively with the surrounding communities and Government in a sustainable manner. This key acquisition and recent discoveries are testaments to the strength of our technical team, and the tremendous exploration upside potential at Roscan."

Figure 1: Location of Roscan Permits with New Acquisition

• The Aeromagnetic Map (Figure 1), clearly highlights the proximity of Walia and Moussala Discoveries and the newly acquired land package. The Company remains funded to support an extended drill campaign that will generate news flow in 2021.
• We await interpretation of the Geophysics Survey to better define our targets, which will be tested as part of the 2021 exploration drilling campaign. A target generation exercise is now in process incorporating all drilling, surface geochemistry and geology with the new, recently processed, geophysical data.
• Current drilling on the Kandiole Project targeting the Mankouke South Deposit and Kabaya Target is ongoing to test strike and down dip extensions to confirm the depth and continuity of mineralization in Fresh Rock and we look forward to updating the market on the progress in the near future.

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 well-financed 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 and Investor Relations
Tel: (902) 832-5555
Email: aramcharan@Roscan.ca

Greg Isenor, P.Geo
Executive Vice-Chairman
Tel: (902) 832-5555
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.

SOURCE: RosCan Gold Corp.