Gossan Elects New Director at Annual Shareholders Meeting

Winnipeg, Manitoba--(Newsfile Corp. - December 17, 2020) -  Gossan Resources Limited (TSXV: GSS) (FSE: GSR) held its Annual and Special Shareholders Meeting in Winnipeg on December 15, 2020. The proposed management slate of Directors - Douglas Reeson, Hamid Mumin, James C. Campbell, and MaryAnn Mihychuk - were elected to the Board.

Newly elected, the Hon. MaryAnn Mihychuk MSc, P.C., formerly a federal Minister of Employment and a Manitoba Minister of Mines, is an experienced geologist and is active with the Manitoba Prospectors and Developers Association. MaryAnn, who is based in Winnipeg, has held numerous management and board positions at the local, provincial and federal level as well as in the private sector, including being a former executive of the Prospectors & Developers Association of Canada. MaryAnn was previously a director of Gossan from 2009 to 2015.

At a Directors Meeting, Messrs. Douglas Reeson and Robert Suttie were appointed officers. An Audit Committee and a Corporate Governance, Compensation and Nominating Committee were also constituted. The Board also established an Advisory Committee.

Gossan has awarded 260,000 incentive stock options to a director and consultants of the Company. This grant of options is in compliance with the terms of the Company's Stock Option Plan and remains subject to the acceptance of the TSX Venture Exchange. A director was granted 100,000 stock options exercisable at $0.10 per share with an expiry of March 21, 2022. Two consultants were granted a total of 160,000 stock options exercisable at $0.10 per share with an expiry of March 21, 2022. This grant of options was awarded after the close on December 16, 2020.

Gossan Resources Limited continues to seek new financeable resource projects in Newfoundland, Manitoba, Ontario, and throughout North America. The Company is launching a new gold initiative with the acquisition of the 9,050-hectare Gander Gold Property in Newfoundland which was recently expanded to 10,950 hectares, and now, the 975-hectare Weir Pond and 1,050-hectare Island Pond Properties. The Company holds a broadly diversified portfolio of multi-element properties prospective for hosting base metals and platinum group elements, as well as specialty "green-battery metals", vanadium, titanium, tantalum, lithium and chromium. Gossan also has a deposit of high-purity, magnesium-rich dolomite, and holds advance and production royalty interests in a silica sand deposit. All of Gossan's mineral exploration and development properties are located in Manitoba, Northwestern Ontario and now, Newfoundland. The Company's most recent focus is the exploration of its Sturgeon Lake Property, located in the zinc-copper-silver rich polymetallic Sturgeon Lake Greenstone Belt of Northwestern Ontario. The Company trades on the TSX Venture and the Frankfurt/Freiverkehr & Xetra Exchanges and currently has 40,008,900 common shares outstanding.

Neither 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 news release.

For further information, please visit www.gossan.ca or contact:

Douglas Reeson, Chairman & CEO
Gossan Resources Limited
Tel: 416-533-9664
E-Mail: [email protected]

Kathy Ringland, Office Manager
Tel: 204-943-1990

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