Playfair Mining Closes Private Placement

Vancouver, British Columbia--(Newsfile Corp. - May 17, 2021) - Playfair Mining (TSXV: PLY) is pleased to announce that it has closed the non-brokered private placement announced on April 29, 2021, which was over-subscribed by 906,670 shares. The Company has issued 10,906,670 common shares at $0.15 per share for gross proceeds of $1,636,000. Finder's fees of $3,447.50 cash were paid in connection with this placement. All securities issued are subject to a hold period expiring four months and one day from the date of issuance. The proceeds will be used for exploration on the RKV project in South Central Norway and for general working capital purposes.

The Company has also concluded a shares for services agreement with Mr. Reidar Gaupas, a resident of Norway. Mr. Gaupas has been assisting the Company locally since September, 2020 and has been instrumental in advancing the RKV drill program. The Company has agreed to issue 150,000 common shares at a deemed price of $0.13 per share to Mr. Gaupas in consideration of the services rendered. The securities will be subject to the regulatory hold period.

For further information visit our website at www.playfairmining.com or contact:

Donald G. Moore
CEO and Director
Phone: 604-377-9220
Email: [email protected]

D. Neil Briggs
Director
Phone: 604-562-2578
Email: [email protected]

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

Forward-Looking Statements: This Playfair Mining Ltd. News Release may contain certain "forward-looking" statements and information relating to Playfair which are based on the beliefs of Playfair management, as well as assumptions made by and information currently available to Playfair management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84233