Compass Gold Announces Private Placement

Proceeds to Support Continuing Exploration into 2021

Toronto, Ontario – November 30, 2020 – Compass Gold Corp. (TSX-V: CVB) (“Compass” or the “Company”) announced today that it intends to issue, on a non-brokered private placement basis, up to 12,500,000 common shares of the Company, at a price of $0.20 per share, for aggregate gross proceeds of up to $2.5 million (the “Offering”).

The proceeds of the Offering will be used to further advance the Company’s ongoing exploration efforts at its Sikasso Property in southern Mali (see Compass news releases dated October 5th and 29th, 2020), as well as for general corporate purposes.

Larry Phillips, Compass President and CEO, said, “We are pleased to confirm that Phase 1 of exploration and drilling work following the end of the 2020 rainy season is underway, with the initial drilling results from this latest program on our exciting Tarabala and Samagouela trends anticipated before the end of December. With this Private Placement, our exploration team can continue following up with the planned Phase 2 and Phase 3 drilling on multiple targets into 2021 without interruption or delay.”

Certain insiders of the Company may participate in the Offering.  Further, subject to compliance with the policies of the TSX Venture Exchange and applicable securities legislation, the Company may pay a finder’s fee to certain registered dealers in connection with the Offering comprised of: (i) a cash fee equal to 6.0% of the gross proceeds received from the sale of common shares sold to purchasers introduced to the Company by the finder, and (ii) warrants exercisable for a period of two years following the closing of the Offering to acquire that number of common shares of the Company, at a purchase price of $0.20 per share, equal to 6% of the number of common shares sold to purchasers introduced to the Company by the finder.

All the shares issuable pursuant to the Offering will be subject to a hold period expiring four months and one day after the date of issuance.

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Compass Gold Finalizes Warrant Extension

Toronto, Ontario, November 25, 2020 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) announces that the TSX Venture Exchange (the “Exchange”) has approved the Company’s request to extend the term of certain issued and outstanding warrants that were otherwise scheduled to expire on November 29, 2020. The Exchange has agreed that certain issued and outstanding warrants (the “Warrants”) issued as part of a private placement that closed on November 29, 2017 and exercisable at a price of $0.75 per share for a total of 12,000,000 common shares will now expire on November 29, 2021. The additional warrants issued as partial compensation to the Company’s primary financial advisor to acquire 200,000 common shares as part of the original private placement are not being extended.

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Compass Gold Announces Proposed Warrant Extension

Toronto, Ontario, November 17, 2020 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) announces that has filed with the TSX Venture Exchange (the “Exchange”) to extend the term of certain issued and outstanding warrants that are otherwise scheduled to expire on November 29, 2020. Subject to final approval of the Exchange, the Company plans to extend the term of issued and outstanding warrants (the “Warrants”) that were issued as part of a private placement that closed on November 29, 2017 and exercisable at a price of $0.75 per share for a total of 12,200,000 common shares. None of the warrants issued in that private placement have been exercised. The proposed new expiry date for the Warrants would be November 29, 2021.

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Ground Geophysics Being Completed on the Samagouela Trend in Preparation for New Drill Program

Toronto, Ontario, October 29, 2020 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) announces that it has nearly completed the ground geophysical surveys over the Samagouela Trends on its Sikasso Property in southern Mali.

Highlights

  • 26 sq. km of Gradient Induced Polarization (IP) surveys being completed on three grids on the Samagouela Trend
  • The annual rains have ceased, and field teams have mobilized to prepare access and drilling pads for renewed drilling at the Tarabala and Samagouela prospects
  • Fully-funded 3,000 m drill program is planned to start at Tarabala and Samagouela in November
  • 12 additional Gradient IP surveys on high-priority areas remain – associated with artisanal workings and gold in shallow soil anomalism

Compass CEO, Larry Phillips, said, “Preparations continue on our primary drilling targets on the Tarabala and Samagouela trends.  Our field team has appraised site access and a bulldozer will be on site early next week to prepare the drilling pads for our initial 3,000 m air core drilling program there.  Based on the success of our drilling earlier this year, we will be testing a 2.3-km zone on the 10 km Tarabala Trend, and a 1.4-km zone on the 10 km Samagouela Trend.  The current program will provide additional information on the continuity of the previous near surface mineralized intercepts, such as 14 m @ 2.75 g/t Au and 9 m @ 5.79 g/t Au from Samagouela, and follow the mineralization along strike.  Drilling in both areas will be completed before the end of the year. These results, along with the recently completed geophysical surveys, will help define precise drilling targets to be followed-up next year.”

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Compass Gold Initiates Field Work on the Tarabala and Samagouela Trends in Preparation for New Drill Program

Toronto, Ontario, October 5, 2020 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) announces that it has launched its follow-up field program on the Tarabala and Samagouela trends on its Sikasso Property in Southern Mali.

Highlights

  • The annual rains are easing, and field teams have mobilized to prepare access for renewed drilling at the Tarabala and Samagouela artisanal workings
  • A fully-funded 3,000 m drill program is planned on two prospects on the Sikasso property in Q4 2020
  • Gradient Induced Polarization (IP) survey teams have been deployed on the first of 15 high-priority areas
  • Drilling is expected to begin in late November 

Compass CEO, Larry Phillips, commented, “As the end of the wet season approaches, we have deployed our field teams to prepare our drilling sites for our next exciting drilling program.  Based on the success of our drilling earlier this year, we will be testing a 2.3-km zone on the 10 km Tarabala Trend, and a 1.4-km zone on the 10 km Samagouela Trend.  The initial 3,000 m air-core drilling program will provide additional information on the continuity of the previously intercepted near surface mineralization.

Ground geophysics survey teams have already been mobilized, and are prioritizing their work on 15 additional areas that have pronounced shallow soil gold anomalism.  We will use the results of this latest drilling and geophysical work to help determine the focus of more drilling on the highest priority targets early next year.”

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Compass Gold: Investor Conference Call & Review

Toronto, Ontario, August 17, 2020 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to announce that it will host a webinar and conference call at 11:30 a.m. E.T. on Tuesday, August 18th, to provide a review of the Company’s recent activities, as well as its plans for continuing exploration on its Sikasso Property in southern Mali.

Before the webinar, investors are invited to review the Company’s latest news releases (http://compassgoldcorp.com/category/news/) and investor presentation (http://compassgoldcorp.com/investor-presentation/).

Compass CEO, Larry Phillips, said, “Our field team in Mali has accomplished a great deal over the past year before the rainy season began, having collected a large amount of invaluable geological and geophysical data that continues to reveal the exceptional potential of our Sikasso Property. Based on our analysis of these results, we are anxious to begin an aggressive and sharply focused new round of drilling once ground conditions permit. We want to take this opportunity to provide investors with an exploration update, and once again, we will have our Director and Exploration Manager, Dr. Madani Diallo, and our Technical Director, Dr. Sandy Archibald, P.Geo, joining the rest of our management team on this webinar. We hope that you will either join us on this webinar or go to our website afterward to review the replay.”

The webinar is scheduled for Tuesday, August 18th , at 11:30 a.m. Eastern Time (US and Canada), and is to be recorded and available for later playback. Replay details will be available on Compass’s website following the call.

Please register in advance for this meeting:

https://zoom.us/meeting/register/tJwpc-2srzItHtX6HmuxxwQioGwbHdCE0KEm

After registering, you will receive a confirmation email containing information about joining the meeting.

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Compass Identifies Two New 1-Km Targets with Bedrock Gold Mineralization on the Farabakoura Trend

Aggressive New Drill Program to Commence Following Rainy Season

Toronto, Ontario, August 13, 2020 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the recently completed fieldwork at the Dialéké prospect on the Company’s Sikasso Property in southern Mali (Figure 1).

Highlights

  • Exploration work at Dialéké identifies two discrete >1-km-long zones of coincident gold-in-shallow-soil anomalism associated with the Siekeroli shear zone
  • Pronounced gold in soil anomaly present adjacent to Dialéké workings
  • Gold-bearing quartz veins recovered from shallow artisanal workings
  • Drilling at Dialéké will start when ground conditions permit

Compass CEO, Larry Phillips, said, “These latest results from our Dialéké prospect have added two clear new targets to our already robust pipeline of highly prospective gold targets at Tarabala, Samagouela and Sodala.. Our objective for the coming year is to confirm a gold resource at one or more of these targets contained on our Sikasso Property.”

He added, “Our technical team recently completed a review of all of our exploration results and has outlined an aggressive and cost-effective exploration program for the coming field season once ground conditions permit.  The first stage of this exploration program will include a fully-funded 3,000 m drill program on our Samagouela and Tarabala prospects, where we had considerable success earlier this year. We are anxious to resume this next phase of field work as soon as the rainy season ends.”

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Compass Determines Key Structural Controls on Gold Mineralization at Sodala

High Priority Drilling Targets Identified

Toronto, Ontario, June 29, 2020 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the recently completed drilling at the Sodala prospect, located on the Company’s Sikasso Property in southern Mali (Figure 1).

Highlights

  • Drilling at Sodala identifies a broad, shallow gold target, associated with a shear zone
  • Air core drilling (9 AC holes, 467 m) intersected gold mineralization within a 280-m wide fault zone cutting artisanal gold workings
  • Further geophysical testing and drilling planned on permit to test a large (1,000 m x 500 m) shallow soil anomaly

Compass CEO, Larry Phillips, said, “Additional bedrock drilling on the Sankarani East permit has identified gold mineralization within a newly discovered shear zone centred on the Sodala artisanal workings.  The results of this latest drilling validate Sodala as a major target for additional geophysical testing and follow-up drilling.  This work has also given us a much clearer understanding of the controls on mineralization, and explains the location of a pronounced soil anomaly, which includes a 31.3 g/t Au sample collected by Compass.

He added, “As we’ve recently reported, geophysical and geological testing has led to our discovery of two new mineralized trends at Tarabala and Samagouela, and it now appears that Sodala lies on a similar structure.  We have abundant evidence that several permits within our 850-square-kilometre property display the necessary geological features to potentially host open-pittable gold deposits, all within one of the most prolific gold districts in the world.”

Permit overview map: http://compassgoldcorp.com/sikasso-properties/

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Compass Discovers Second High-Grade Bedrock Gold Zone on the Samagouela Trend

Grades up to 36.37 g/t Au recorded at shallow depths

Toronto, Ontario, June 22, 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 Samagouela South prospects, located on the Company’s Kourou permit within the Sikasso Property in Southern Mali (Figure 1).

Highlights

  • Geophysical survey and drilling at Samagouela identify a pronounced, broad, shallow gold target, associated with a shear zone, extending more than 2-kilometres
  • Air core drilling (24 AC holes, 1,253 m) intersects gold mineralization within two wide trends
  • Best interval at Samagouela: 9 m at 5.79 g/t Au (from 45 m, and remains open at depth), including 1 m @ 36.37 g/t Au (from 45m)
  • Best interval at Samagouela South: 14 m at 2.75 g/t Au (from 20 m), including 1 m @ 11.64 g/t Au (from 21 m)
  • Further geophysical testing planned to delineate the shear-zone along with additional drilling to define the extent of the mineralization
  • Assay results pending from Sodala prospect

Compass CEO, Larry Phillips, said, “Our technical team has found evidence of a large and very encouraging gold target running for at least two-kilometres through our Kourou permit.  It is near surface, wide and contains the kind of grades we have been targeting.  This latest drilling has intersected high-grade gold veins beneath, and along strike from, the pit where artisanal miners have recovered gold and we have discovered a new mineralized structure where the mineralization clearly follows a traceable feature in the geophysical data.  Geophysical evidence also suggests the Samagouela shear zone could extend to the Ourourou prospect, a distance of 8 km.”

He added, “We are aggressively executing discreet drill programs targeting three large prospective areas of our Sikasso property – Tarabala, Samagouela and Sodala – testing for the presence of structures with the potential to discover significant traceable gold mineralization. Following on the success we reported last week from Tarabala, our technical team is even more encouraged by these latest results from Samagouela. We expect to be able to release the drill results from Sodala before the end of June.  Overall, we have achieved our key objectives through our 2020 exploration campaign. We will use these results in planning our next drill program focused on these three exciting prospects as we drive towards our goal of defining areas with large, near surface gold mineralization.”

Permit overview map: http://compassgoldcorp.com/sikasso-properties/

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Compass Increases Confidence in a 2-Km Structural Gold Target Within 10-Km Tarabala Trend

Additional Drilling Targets Identified by Ground Geophysics

Toronto, Ontario, June 15, 2020 – Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) is pleased to provide an update on the recently completed drilling at the Tarabala prospect, located on the Company’s Sikasso Property in Southern Mali (Figure 1).

Highlights
● Coordinated exploration work at Tarabala identifies a pronounced, broad, shallow gold target, associated with a shear zone, extending more than 2-kilometres
● Air core drilling (24 AC holes, 1,253 m) intersected gold mineralization within the 10 km long Tarabala soil geochemistry trend
● Best interval was 14 m at 1.24 g/t Au (from 23 m), including 1 m @ 12.99 g/t Au (from 33m)
● Further geophysical testing planned on other Tarabala Trend prospects in preparation for additional drilling once ground conditions permit

Compass CEO, Larry Phillips, said, “Our technical team has uncovered a large and very encouraging gold target running for at least two-kilometres through our Sankarani permit, which remains open at both ends. A combination of drilling, soil sampling and geophysical surveys confirms our interpretation that our permits cover a highly-favourable segment of the Tarabala fault, and further supports our belief that we are in the correct geological environment for a major gold-bearing system, one which demands additional testing.

He added, “In addition to the work at Tarabala, our team completed initial air core drilling programs at two large targets; Samagouela on our Kourou permit; and, Sodala on our Sankarani East permit. Like Tarabala, these targets were selected based on highly prospective geophysical and geological data, and their potential to contain large near surface gold mineralization. With the results from Samagouela and Sodala expected in the next few weeks, we hope to continue to demonstrate the significant potential for finding gold deposits at the Compass land package, which totals more than 850 square kilometres, all within one of the most prolific gold districts in the world.”

Dr. Madani Diallo, Director and Country Manager, added, “As our current exploration program nears its conclusion with the start of the rainy season, I am gratified to see the positive results that our field teams have achieved. It is especially important to note that this work has been completed without any cases of COVID-19 infection amongst Compass employees or subcontractors in the field or our exploration office in Bamako, and that we have continued our stringent health protocols.”

Permit overview map: http://compassgoldcorp.com/sikasso-properties/

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