Endurance Gold Announces Closing of Over Subscribed Non-Brokered Private Placement of $644,070

Not for distribution to United States NEWSWIRE SERVICES or for dissemination in the United States

VANCOUVER, BC / ACCESSWIRE / December 11, 2020 / Endurance Gold Corporation (TSX.V:EDG) (the "Company") is pleased to report that it has closed its non-brokered private placement (the "Offering") announced by news release dated November 24, 2020. The Offering was originally announced for gross proceeds of up to $403,000 through the sale of 2,600,000 units (each, a "Unit") at a $0.155 per Unit. After receiving expressions of interest that exceeded the originally announced financing, the Company increased the size of Offering to $644,070 through the sale of 4,155,290 Units on the same terms announced on November 4, 2020.

The Company has now closed the Offering and raised aggregate gross proceeds of $644,070 through the sale of 4,155,290 Units at $0.155 per Unit. Each Unit shall be comprised of one common share (each, a "Share") and one non-transferable common share purchase warrant (each, a "Warrant"). Each Warrant shall entitle the holder to purchase one additional Share of the Company at an exercise price of $0.25 for a period of two years from the date of closing (the "Closing"). An insider of the Company has subscribed for 150,000 Units of the Offering.

In connection with the Offering, the Company will pay a total cash consideration of $12,586 as finder's fee. The gross proceeds of the Offering will be used to fund the Company's exploration activities and for general corporate purposes.

The Closing of the Offering is subject to TSXV Exchange's final approval, and the securities issued in this Offering are subject to a hold period of four months plus one day from the Closing.

ENDURANCE GOLD CORPORATION

Robert T. Boyd
President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT

Endurance Gold Corporation
(604) 682-2707, [email protected]
www.endurancegold.com

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release. This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from the expected results.

SOURCE: Endurance Gold Corporation