Early Warning Press Release Regarding Investment in Red Lake Gold Inc.

Vancouver, British Columbia--(Newsfile Corp. - July 10, 2019) - Mr. Ryan Kalt today announced that he has acquired an aggregate of 715,000 units of Red Lake Gold Inc. (CSE: RGLD) ("RGLD" or the "Company"), with each unit comprised of one common share of RGLD and one common share purchase warrant of RGLD, and an aggregate of 175,000 common shares of RGLD. The units were purchased by Mr. Kalt in a private placement financing transaction on July 10, 2019 at a price of $0.07 per unit, for an aggregate purchase price of $50,050.00. The 175,000 common shares were acquired through a series of purchases on the Canadian Securities Exchange between June 14, 21019 and July 2, 2019, under which Mr. Kalt paid an aggregate of $12,650.00, representing an average price of $0.0723 per share. Collectively, the shares and warrants acquired by Mr. Kalt represent approximately 6.46% of the issued and outstanding common shares of the Company (assuming exercise of all of the warrants).

Mr. Kalt now owns or has control or direction over an aggregate of 5,134,500 common shares of the Company, representing approximately 20.68% of the Company's issued and outstanding common shares (or 7,014,500 common shares of RGLD representing 28.25% of the issued and outstanding shares, assuming exercise of all stock options and warrants). The shares and warrants were acquired by Mr. Kalt for investment purposes. Mr. Kalt may acquire additional securities of RGLD either on the open market or through private acquisitions or sell securities of RGLD either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. Other than the foregoing, Mr. Kalt does not have plans or any future intentions which relate to or would result in any of the other foregoing matters.

"Ryan Kalt"
Ryan Kalt

The Form 62-103F1 - Required Disclosure under the Early Warning Requirements associated with this news release can be obtained from RGLD's profile on SEDAR at www.sedar.com. To obtain a copy of the report, please contact Michael Raven of Beadle Raven LLP at 1.604.899.6401.

The CSE has not reviewed, approved or disapproved the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/46195