Depth Potential Identified at Hercules Gold Project, Lyon County, Nevada

Summary:

• New 'Hercules Structural Zone', a potential feeder structure, identified indicating possibility for mineralization at depth
• The Hercules Structural Zone extends for more than 2,000 meters along strike, and remains open for expansion

• Additional results indicate southern extents of the Cliffs and Hercules Targets could be connected below thin cover across approximately 600 meters

Vancouver, British Columbia--(Newsfile Corp. - July 21, 2020) - Eclipse Gold Mining Corporation (TSXV: EGLD) (OTC PINK: EGLPF) ("Eclipse" or "the Company") is pleased to report it has completed an induced polarization (IP) survey at the Hercules Gold Project located in Lyon County, Nevada.

A review of the data collected to date showed a good correlation between zones of silicification in outcrop and drilling and resistive features in the recently collected geophysical data. Gold mineralization at the Hercules Gold Project is commonly associated with intensely silicified zones. As such, resistivity is considered a good proxy for delineating targets of potential gold mineralization associated with silicification.

Third party interpretation of the data has indicated the presence of two parallel and continuous NNE-trending, steeply west-dipping structures named the Hercules Structural Zone. This Zone passes through and to the west of the main Hercules Target (Figure 1), and may represent a feeder structure for mineralization, which has only sporadically been intersected by drilling conducted to date.

In addition, a large resistive feature at the southern end of the survey suggests a connection at depth between the Cliffs and Hercules Targets. This feature appears to be both open to and increasing in thickness to the south.

Recent drilling announced by the Company on June 10, 2019 presented drill results for the Cliffs target of 74.68 meters of 0.54 g/t Au and 4.78 g/t Ag, and for the Hercules Target 89.92 meters of 0.65 g/t Au and 12.51 g/t Ag. The area between the two targets, which are approximately 600 m apart, has not been tested by drilling to date.

Dr. Warwick Board, Vice President of Exploration for the Company commented, "These results will guide our next phase of geophysical surveying and drilling on the Hercules Gold Project. The newly identified and relatively untested Hercules Structural Zone extends for more than two kilometers and remains open beyond the survey area. The trend and scale of the resistivity anomalies and targets bodes well for future discoveries on the Project."

Several anomalies remain open for further expansion. Geophysical data will be incorporated into the Company's geological model and used to target the next phase of geophysical surveying and drilling with the latter expected to launch in late summer 2020.

Figure 1: Plan view of IP resistivity results and drilling on the Hercules Gold Project. Resistivity contours are shown for a depth slice of between 100 and 150 m below surface and are coloured such that zones of elevated resistivity correspond to "cooler" colors (i.e., purple and blue) and areas of lower resistivity are reflected in "warmer" colors (yellow through red). Areas of elevated resistivity are a potential proxy for gold mineralization associated with silicification.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6892/60173_7e294ac024e0d9ed_001full.jpg

About Eclipse Gold Mining

Eclipse Gold Mining is exploring the district-scale Hercules gold property within Nevada's Walker Lane trend. The Hercules property is located only a one-hour drive from Reno and appears to have all the characteristics of a large, low-sulphidation epithermal gold system. The Company brings together a team with collective funding of over $2 billion in both strong and weak markets, and a track record of at least nine successful buyouts/exits.

Qualified Person

Dr. Warwick Board, P.Geo., Vice President of Exploration for Eclipse Gold Mining Corporation, and a qualified person ("QP") as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.

ON BEHALF OF THE BOARD OF DIRECTORS

Michael G. Allen
President, CEO and Director

CORPORATE INQUIRIES:
Dylan Berg, VP Investor Relations
Company Website: www.eclipsegoldmining.com
+1 (844) 427-6453 Toll Free
+1 (778) 945-3949 Direct (please leave a message)
Email: info@eclipsegoldmining.com

TSXV: EGLD | OTC PINK: EGLPF | ISIN: CA27888R1001 | WKN: A2PYV4

Forward looking and other cautionary statements

Neither the 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.

This press release includes "forward-looking information" that is subject to a few assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding listing of the Company's common shares on the TSXV are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management's best judgment based on information currently available. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions and general business conditions. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Company's final prospectus dated February 6, 2020 and filed under the Company's profile on SEDAR at www.sedar.com. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.

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