Troubadour Increases Private Placement Financing to $720,000

Vancouver, British Columbia--(Newsfile Corp. - March 22, 2021) - TROUBADOUR RESOURCES INC. (TSXV: TR) (OTC Pink: TROUF) (the "Company") is pleased to announce due to an oversubscription and strong demand that it has increased its previously announced private placement financing (see news release dated March 12, 2021) to 6,000,000 units (each a "Unit") at $0.12 per Unit for gross proceeds of up to $720,000 (the "Offering").

Each Unit consists of one common share (a "Share") in the capital of the Company and one-half of one non-transferable share purchase warrant (each whole share purchase warrant a "Warrant") of the Company. Each full Warrant will entitle the holder to purchase one additional Share at a price of $0.18 for an 18-month period after the Closing Date.

The Company may pay a finder's fee in cash in connection with the Offering.

Proceeds raised from the Offering will be used to fund eligible exploration expenditures on the Company's Texas project. All securities issued under the Offering, including securities issuable on the exercise thereof, are subject to a hold period expiring four months and one day from the date of issuance.

The Offering is subject to the acceptance of the TSX Venture Exchange.

About Troubadour

TROUBADOUR RESOURCES INC. (TSXV: TR) (OTC Pink: TROUF) is a public Canadian mining exploration company focused on copper and gold in British Columbia, Canada. The Company is managed by an experienced team consisting of youthful and seasoned professionals with proven track records as mine finders. The newly acquired Texas gold property diversifies the Company's commodity focus and compliments Troubadour's Amarillo copper project located 10 km south of the past-producing Brenda Mine in southern BC and 35 km east of Kodiak Copper's MPD discovery.

For further information please contact:

Troubadour Resources Inc.
625 Howe Street, Suite 488
Vancouver, BC V6C 2T6
Geoff Schellenberg, President
Office: (604) 681-0221
geoff@troubadourresources.com

Forward Looking Information

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to place undue reliance on forward looking statements.

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 RELEASE.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/78127