Mariner Closes Private Placement

Edmonton, Alberta--(Newsfile Corp. - July 27, 2020) - Mariner Resources Corp. (CSE: RNR) (the "Company" or "Mariner") is pleased to announce that it has closed its previously announced private placement financing (the "Financing") of 5,000,000 common shares at a price of $0.12 per common share (see the Company's press release dated July 9, 2020), to raise gross proceeds of $600,000.

The common shares issued in connection with the Financing are subject to staggered hold periods expiring as follows: (i) one-third on November 28, 2020; (ii) one-third on March 28, 2021; and (iii) one-third on July 28, 2021. Completion of the Financing is subject to approval of the Canadian Securities Exchange.

About Mariner Resources Corp.

Mariner Resources Corp. is a Canadian mineral exploration company focused on the acquisition and development of mineral projects containing base and precious metals in Canada with its common shares listed on the Canadian Securities Exchange (CSE). The management team has a proven track record of delivering shareholder value during both good and challenging market conditions and have taken projects from exploration, through development, and into production on several continents.

ON BEHALF OF THE BOARD

/s/ "John Williamson"
Chief Executive Officer

For further information, please contact:
Justin Bourassa, Director and CFO
justinb@metalsgroup.com
Tel: (780) 701-3216

This news release may contain certain "forward looking statements". Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/60605