Yamana Gold Reengages GoldSpot Discoveries for Its Cerro Moro Gold and Silver Mine in Argentina

Toronto, Ontario--(Newsfile Corp. - June 8, 2020) - GoldSpot Discoveries Corp. (TSXV: SPOT) (the "Company" or "GoldSpot") is pleased to announce that due to its recent successes at El Peñón, Yamana Gold Inc ("Yamana") has reengaged GoldSpot's team of expert geologists and data scientists to use machine learning to identify new drilling targets at the Cerro Moro Gold and Silver Mine in Argentina.

Yamana has commissioned GoldSpot to examine its entire database and look for previously unrecognised data trends to identify areas of potential mineralization at depth and on a regional scale. By engaging GoldSpot, Yamana seeks to minimize exploration risk and mitigate exploration and drilling costs.

GoldSpot will use its geoscience and machine science expertise to clean, unify and analyse exploration data from Yamana's Cerro Moro Mine and produce 2D and 3D targets for the exploration program. GoldSpot will also deliver new geophysical, geochemical and geological products produced through the reprocessing of the satellite images and other relevant layers which will help interpretations and mineralization models.

"This new contract with Yamana for the Cerro Moro mine validates our work thus far and the cutting-edge products we deliver to our clients. Yamana has been an incredible supporter of GoldSpot and we are proud to be a part of their digital transformation." said Denis Laviolette, Executive Chairman and President of GoldSpot.

About GoldSpot Discoveries Corp.

GoldSpot Discoveries Corp. (TSXV: SPOT) is a technology and investment company that leverages machine learning to reduce capital risk while working to increase efficiency and success rates in resource exploration and investment. GoldSpot Discoveries combines proprietary technology with traditional domain expertise, offering a front-to-back service solution to its partners, and in some cases, capital to kickstart exploration programs. GoldSpot's solutions target big data problems, making full use of historically unutilized data to better comprehend resource property potential.

For further information please contact:
Denis Laviolette,
Executive Chairman and President
GoldSpot Discoveries Corp.
Tel: 647-992-9837
Email: denis@GoldSpot.ca

Cautionary Statement on Forward -Looking Information

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

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, uncertainty over the outcome of any litigious matters, the Company's objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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