Compass Gold Completes Expanded Q4 2020 Drill Program at Samagouela and Tarabala

More than 75% of Assay Results Pending; Target Generation Work Continues

Toronto, Ontario, December 30, 2020 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the recently completed drilling at the Samagouela and Tarabala prospects, located on the Company’s Kourou permit within the Sikasso Property in Southern Mali.

Highlights

  • Samagouela – Air core drilling (41 AC holes, 1,901 m) and reverse circulation (1 hole, 52 m) drilled on two gold mineralized structures (Includes 8 AC holes and 1 RC hole added to the original program.)
    • 2,054 samples dispatched to assay laboratory (795 results received)
  • Tarabala – 1,505 m from 30 AC holes and 186 m from 2 RC holes completed
    • 1,780 samples dispatched to assay laboratory with all results pending
  • Ground geophysics completed on eight of twelve target areas
  • 482 in-fill shallow soil samples pending from Kourou permit

Compass CEO, Larry Phillips, said, “As promised, we have now completed the latest drill program at Samagouela and Tarabala, part of the ongoing 17,000 metre program that will continue into the first half of the coming year. While originally planned for 3,000 m of air core drilling, our technical team expanded the program to test a total of 3,644 m. The small sampling of initial results we’ve received so far has confirmed the presence of the mineralization and quartz vein structures that we have been looking for. We look forward to receiving all of the assay results, which are expected by mid-January, and which will help determine the next stage of drilling.”

Compass Director and Exploration Manager, Dr. Madani Diallo, added, “Initial results from this latest work at Samagouela have confirmed the presence of gold mineralization associated with our target structures, demonstrating the benefits of using ground geophysics and surface geochemistry in this part of Mali. Meanwhile, we are moving ahead with more drilling, as well as more Gradient Induced Polarization ground geophysics and geological mapping.  Our goal with all of this work is to identify additional drilling targets to be tested in the first half of 2021.”

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Compass Gold Closes $3,637,062 Private Placement

17,000-Metre Drill Program has Commenced Along the Tarabala and Samagouela Trends

 Toronto, Ontario – December 16, 2020 – Compass Gold Corporation (TSX-V: CVB) (“Compass” or the “Company”) announced today that it has issued, on a non-brokered private placement basis, a total of 18,185,310 common shares of the Company, at a price of $0.20 per share, for aggregate gross proceeds of $3,637,062 pursuant to the closing of its previously announced private placement (the “Offering”) (see Compass news releases dated November 29, and December 6 and 8, 2020).

Larry Phillips, Compass Gold’s President and CEO, said, “Once again our core group of existing shareholders has taken up the majority of this important Private Placement. We are grateful for their strong and continuing support. As with prior offerings, we have used this opportunity to add several institutional shareholders who have recognized the quality of our properties and the experienced team conducting the exploration. The addition of these funds to our existing treasury will allow us to take the results of this major drilling program in June 2021 and plan for continuous drilling throughout the rainy season.  I can assure all of our shareholders that our team is working aggressively to carry out the drilling plan and achieve our objective of identifying clear potential for a near surface gold resource.”

Dr. Madani Diallo, Director and Exploration Manager, added, “With the end of the rainy season in Mali, we have now started an aggressive exploration and drilling program commencing at Samagouela and Tarabala, two of our highest priority target zones, where earlier this year our drilling intercepted significant gold mineralization.  Those large trends host just a few of the growing number of highly-prospective gold targets on our Sikasso Property. Our exploration team in Mali is excited by the opportunity to complete our current 17,000-metre drill program in Q3, 2021. Based on the results of that work, we will, for the first time, be able to plan and conduct drilling on the highest priority targets without interruption by the rainy season.  I firmly believe that our work in 2021 will validate the confidence that the Company’s shareholders have shown in us.”

Extensive new exploration and drill program launched

Compass has recently launched Phase 1 of a previously-reported 17,000-metre drilling program, beginning on targets on the Samagouela Trend, which will be followed be further drilling on the Tarabala Trend. The initial drilling results from this latest program are expected to be available in late December. Along with the Company’s existing funds, proceeds from this Private Placement will be sufficient to fund this entire program, and will enable the field team to continue following up with the planned Phase 2 and Phase 3 drilling on multiple targets into 2021 without interruption.

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Compass Gold to Further Increase Private Placement to Raise up to $3.7 Million

Toronto, Ontario – December 9, 2020 – Compass Gold Corp. (TSX-V: CVB) (“Compass” or the “Company”) announced today that, as a result of substantial investor demand, it has further increased the size of its initially announced $2.5 million private placement (the “Offering”) (see Compass news releases dated November 30 and December 7, 2020) and will now issue up to 18,500,000 common shares of the Company, at $0.20 per share, for aggregate gross proceeds of up to $3.7 million.

The proceeds from this offering will be used to fund exploration, including a 17,000-meter drill program to be completed before the end of Q2, 2021, and for general corporate purposes. Drilling will focus on mineralized trends on the Tarabala and Samagouela targets discovered at the Company’s Sikasso Property in southern Mali.  Phase 1 of this program, consisting of 3,000 meters of drilling on the first of these targets, is fully funded and has commenced. Initial drill results are expected near the end of December.

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Compass Gold to Raise up to $3.4-Million in Over-Subscribed Private Placement

Toronto, Ontario – December 7, 2020 – Compass Gold Corp. (TSX-V: CVB) (“Compass” or the “Company”) announced today that it has increased the size of its previously announced $2.5 million private placement (the “Offering”) (see Compass news release dated November 30, 2020) and will now issue up to 17 million common shares of the Company, at a price of $0.20 per share, for aggregate gross proceeds of up to $3.4 million.

The proceeds from this offering will be used to fund exploration, including a 17,000-meter drill program to be completed before the end of Q2, 2021, and for general corporate purposes. Drilling will focus on mineralized trends on the Tarabala and Samagouela targets discovered at the Company’s Sikasso Property in southern Mali.  Phase 1 of this program, consisting of 3,000 meters of drilling on the first of these targets, is fully funded and has commenced. Initial drill results are expected near the end of December.

Larry Phillips, Compass President and CEO, said, “The response from our existing shareholder to this offering has been very robust, and we appreciate their continued support. As with last year’s offerings, we have used this opportunity to expand our share register by adding strong and experienced investors, including major Institutional resource funds who recognize how far Compass has progressed and the tremendous potential to be realized over the coming year. Our discovery team, led by Dr. Madani Diallo and Dr. Sandy Archibald, is committed to bold objectives for 2021, and now we have the resources to help them deliver the results that will benefit all of us as shareholders.”

Mr. Phillips continued, “We also wish to welcome the team from Red Cloud Financial and acknowledge their excellent work in bringing important new investors into this expanded offering. It is clear to me that the Red Cloud Team shares our vision and excitement for the valuable opportunities that Compass Gold presents. We look forward to their assistance in the months ahead to build and expand our communications and market outreach activities. As we embark upon a year of important and regular reporting of drill results, we are committed to generating and building our relationships within the resource investment community, throughout North America and beyond.”

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