Cross River Appoints Alex Tong as Chief Financial Officer

Vancouver, British Columbia--(Newsfile Corp. - October 20, 2020) - Cross River Ventures Corp. (CSE: CRVC) (FSE:C6R) (the "Company") is pleased to announce the appointment of Alex Tong as the Company's new Chief Financial Officer. Mr. Tong replaces John Fraser, who has been managing CFO duties in addition to his continuing role as President of Cross River Ventures

Alex Tong is a highly qualified finance professional with extensive senior management experience in the mining space. He has worked directly with companies operating in both North America and Africa, and was most recently the Director of Finance at Lucara Diamond Corp. Prior to Lucara, Mr. Tong held senior finance roles with development resource public companies Energy Metals Corp and Novagold Resources, where he was responsible for achieving operational performance, leading mergers and acquisitions and involved with various financing strategies.

"We're pleased to have Alex join the Cross River team, he brings a level of operational expertise that is a perfect fit for us at this time," said CEO, Alex Klenman. "As we move forward expanding the company and building a multi-project portfolio, his skill set will be invaluable in managing the financial side of the business through a critical growth period. His corporate philosophy aligns really well with the group and we're happy to have him," continued Mr. Klenman.

"It is an exciting and optimal time to be in the precious metals sector," said Mr. Tong. "I look forward to joining Cross River's leadership team and contributing to Cross River's future success as the company progresses to the next phase of growth and development," continued Mr. Tong.

Mr. Tong is a Chartered Professional Accountant who articled with Deloitte LLP where he managed a portfolio of clients in both the Canadian and U.S. public markets, primarily in the brokerage and mining industry. Mr. Tong is currently co-founder of Calibre Capital Corp., a full-service merchant bank providing financial services, leading stock exchange listings, and managing all aspects of business for clients to help them achieve commercial success.

About the Company

Cross River is a mineral exploration company that is primarily engaged in the acquisition and development of precious metal exploration properties. The Company owns an option to acquire 60% interest in the Fuchsite Lake project which comprises approximately 3,744 hectares 20 km north of the town of Armstrong, Ontario. The Company also owns an option to acquire a 100% undivided interest in the Tahsis Property, an early-stage gold exploration property located on Northern Vancouver Island, in the Nanaimo Mining Division, British Columbia. Cross River's common shares trade under the symbol "CRVC" on the CSE.

On behalf of the Board of Directors of

CROSS RIVER VENTURES CORP.

Alex Klenman
CEO
604-227-6610
[email protected]
www.crossriverventures.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the Canadian Securities Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

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