Pasofino Gold Appoints Neil Herbert to Board of Directors

Toronto, Ontario--(Newsfile Corp. - February 11, 2021) - Pasofino Gold Limited (TSXV: VEIN) (OTCQB: EFRGF) (FSE: N07) ("Pasofino" or the "Company") is pleased to announce that it has appointed Neil Herbert to its board of directors. With three decades of finance experience, Mr. Herbert is a welcome addition to Pasofino's board as the Company moves forward with the development of the West-African-based Dugbe Gold Project and evaluates other opportunities.

Mr. Herbert has been involved in natural resources companies, both as an executive and a manager of mining investments, since joining the copper mining company Antofagasta plc in 1998. Mr. Herbert works with growth companies across sectors and is currently chairman of African mineral exploration companies IronRidge Resources Limited and Premier African Minerals Limited. Former appointments include Deputy Chairman of Altyn Gold plc (a gold mining company), Co-Chairman and Managing Director of Polo Resources Limited (a natural resources investment company), Finance Director of UraMin Inc (a uranium exploration company) and Chief Financial Officer of Brancote Holdings plc (a gold exploration company). He has been a director of companies on the AIM, ASX, LSE, JSE and TSX. Mr. Herbert has a BA with Joint Honours in Economics and Economic History from the University of Leicester and is a Fellow of the Association of Chartered Certified Accountants having began his career working with PwC.

The Company also wishes to announces that Steve Dunn is stepping down from the board of directors to pursue other opportunities.

Ian Stalker, CEO, commented; "On behalf of the entire Pasofino Gold team, I would like to extend a warm welcome to Neil and look forward to working together. I would also like to express our sincere gratitude to Steve Dunn for his dedicated service to Pasofino as interim CEO and for his continued support during his tenure as a director of the board."

About Pasofino Gold Ltd.

Pasofino Gold Ltd. is a Canadian-based mineral exploration company listed on the TSX-V (VEIN). Pasofino is earning a 50% interest in the advanced-stage Roger Gold-Copper Project located in Quebec's prolific Abitibi Greenstone Belt.

Through its recently announced acquisition of ARX Resources Limited, Pasofino has an option to earn a 49% economic interest (net of the Government of Liberia's carried interest) in the Dugbe Gold Project.

For further information, please visit www.pasofinogold.com or contact:

Ian Stalker, President & CEO

T: 604 367 8110
E: istalker@pasofinogold.com

Cautionary Statements Regarding Forward-Looking Statements

This news release contains "forward-looking statements" that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "seek", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the ability to raise the funds to finance its ongoing business activities including the acquisition of mineral projects and the exploration and development of its projects. Such forward looking statements involve known and unknown risks, uncertainties and other factors which 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 such forward-looking statements. Such risks and other factors may include, but are not limited to, the ability to successfully file and obtain approval for the Qualifying Prospectus, the ability to obtain all requisite regulatory approvals in respect of the Qualifying Prospectus, the results of exploration activities; the ability of the Company to complete further exploration activities; timing and availability of external financing on acceptable terms and those risk factors outlined in the Company's Management Discussion and Analysis as filed on SEDAR. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/74305

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