Roscan Gold Provides Regional Update: Intersects 17.34gpt over 4m at Walia, 3.38gpt over 12m at Kandiole North and 2.20gpt Gold over 31m at Moussala North

Toronto, Ontario--(Newsfile Corp. - June 3, 2021) - Roscan Gold Corporation (TSXV: ROS) (FSE: 2OJ) (OTC Pink: RCGCF) ("Roscan" or the "Company") is pleased to announce additional drilling results from its Regional Targets, Walia, Kandiole North (KN1) and Moussala North (MO1) (Figure 1 and Figure 2). These results continue to demonstrate the potential of Roscan's overall land package beyond the more advanced targets, Mankouke South and Kabaya, and validate the exploration strategy over this major auriferous gold regional structure within the Kenieba window.

At Walia and Kandiolé North (KN1), mineralization now extends down to approximately 190m and 230m vertical meters, respectively. At the Moussala North (MO1) target, the majority of the diamond (DD) and Air Core (AC) holes has intercepted gold mineralization, which now has been tested to 120 vertical depth.

Drilling Highlights:

Walia (Air Core Holes)

• 25.70 gpt gold over 2m from drill hole ACDBS21-1181 from 12m
• 22.0 gpt gold over 2m from drill hole ACDBS20-946 from 0m
• 17.34 gpt gold over 4m from drill hole ACDBS21-1287 from 12m
  • Including 33.80 gpt gold over 2m from 12m
• 15.9 gpt gold over 2m from drill hole ACDBS21-1144 from 6m
• 3.06 gpt gold over 16m from drill hole ACDBS21-1514 from 30m
  • Including 6.53 gpt gold over 6m from 34m

Kandiole North (Air Core Holes)

• 3.38 gpt gold over 12m from drill hole ACKAN21-1402 from 18m
  • Including 7.78 gpt gold over 1m from 28m

Moussala North (Diamond and Air Core Holes)

• 5.77 gpt gold over 10m from drill hole DDMOU21-007 from 120.1m
  • Including 11.17 gpt gold over 4m from 121.1m
  • And 2.56 gpt gold over 8m from drill hole DDMOU21-007 from 104.1m

• 16.10 gpt gold over 1m from drill hole ACMOU21-583 from 21m
  • And 2.17 gpt gold over 6m from drill hole ACMOU21-583 from 160.1m
  • And 1.21 gpt gold over 12m from drill hole ACMOU21-583 from 117.0m

• 2.20gpt gold over 31m from drill hole RCMOU21-003 from 22m
  • Including 9.58gpt gold over 3m from 27.0m

Notes: 1: True width yet to be determined, 2: Table 1 - Assay Highlights, 3: No top-cut 4: All holes are 270-degree Azimuth and -50-degree Inclination 5: 2m internal dilution.

Nana Sangmuah, President and CEO, stated, "It is a very exciting time for us at Roscan as we unlock the value of our entire land package by advancing these recent discoveries at Walia, Kandiole North and Moussala North towards delineation of mineral resources. We have intersected gold mineralization in about 90% of the DD and RC holes drilled on all regional targets, which points to a very high success rate. This has increased strike and depth of these targets, creating a solid foundation to build additional ounces. The prospectivity of the Kandiole Project is now well demonstrated through high grade hits across multiple targets over our large 401.8 square km land package where there remain multiple compelling targets on trend yet to be tested.

These recent results continue to build our confidence that our Kandiole project will have the scale required for a potential standalone operation in a region noted for having many world class gold mines."

Walia Exploration Target

At Walia prospect, 72 AC holes intersected gold mineralization indicating the significant potential of this Target. Drilling results demonstrate a NE-SW gold trend over 1.5km which is part of a large scale regional structure and confirm the root of the termite mount geochemistry gold footprint. The mineralization interpretation based on a few reconnaissance deep holes displays a steep zone down to 190m vertical depth.

In addition, collection of grab samples of over 5gpt seems to suggest the occurrence of a parallel structures and new zone of mineralization. Our newly completed geophysical survey has also identified over several kilometers of magnetic conductive trend which relates to a major structural corridor in the northeastern corner of the Dabia South permit (Figure 4).

Kandiole North (KN1) Exploration Target

Hole DDKAN21-006 (Table 1) at Kandiole North has extended known mineralization down to 230m vertical depth from previously 110 m vertical depth. Gold mineralization of this hole ended in fresh rock. To date, all 7 diamond holes at KN1 have hit gold mineralization. This target remains open at depth as well as along strike over a kilometer at the border of the structural conductive zone from the VTEM airborne geophysics survey done by Roscan.

Moussala North Exploration (MO1) Target

All 36 holes have intersected gold mineralization (Table 1) which clearly identifies the upside potential at this target. It should be noted that all DD holes hit gold mineralization in fresh rock, including DDMOU21-007 with 5.77 gpt gold over 10m from 120.1m. Also, hole RCMOU21-003, which intersected 2.20gpt over 31m, ended with gold mineralization in fresh rock. The Moussala North target has now mineralization identified down to 120 vertical depth and over 120m strike (Figure 3), which remains open at depth and to the south of the target.

Gold mineralization at MO1 occurs within the meta sediment package mostly in coarse to breccia associated with albite-ankerite-biotite chlorite alteration, also containing high sulfides (pyrite). The mineralization is interrupted by a late dolerite sill. The mineralization seems to plunge towards the South, preventing gold signature detection from surficial AC holes.

Figure 1: Plan View of Walia, Kandiole North and Moussala Exploration Targets

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Figure 2: Plan View of Walia, Kandiole North and Moussala Showing Assays

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Figure 3: Section at Moussala Showing Strike and Depth Potential

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Figure 4: Plan View at Walia Showing Strike Potential

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Figure 5: Plan View at Kandiole Showing Strike Potential

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Exploration

From a compilation of Termite mount geochemistry assays and the airborne geophysical survey interpretation, these high-priority Regional Targets have been prospected using inclined Air Core (AC) drilling method along the lines in a systematic fence pattern of 800 m by 50 m as the first test. When significant results are returned, such as seen at Southern Mankouke and now at Walia, Kandiole North and Moussala North, additional follow-up with infill AC fence drilling is done to define strike and grade consistency of mineralization to generate targets to be further assessed through Reverse Circulation and Diamond holes.

Drilling Contract and Analytical Protocol

Roscan uses Air Core (AC), Reverse Circulation (RC) and Diamond (DDH) types of drilling in the Kandiole Projects. The Air Core drilling is mainly applied to drill early exploration targets.

The samples are sent for preparation to the Bureau Veritas Mineral Laboratories in Bamako, Mali and assayed at their analytical facilities for fire assay with atomic absorption finish and by gravimetric finish for grades above 10gpt Au.

Roscan applies industry-standard QA/QC procedures to the program using reference materials, blanks, standards, and duplicates.

Table 1: Drillhole Dataset at Walia, Kandiole and Moussala

Table 2: Drillhole ID Dataset for Walia, Kandiole and Moussala

Grant of Options

Roscan has granted to a consultant 300,000 stock options having an exercise price of $0.50 per common share and a three-year term, expiring on June 3, 2024.

Qualified Person (QP) and NI 43-101 Disclosure

Greg Isenor, P. Geo., Executive Vice-Chairman for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 ("NI 43-101") and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.

About Roscan

Roscan Gold Corporation is a Canadian gold exploration company focused on the exploration and acquisition of gold properties in West Africa. The Company has assembled a significant land position of 100%-owned permits in an area of producing gold mines (including B2 Gold's Fekola Mine which lies in a contiguous property to the west of Kandiole), and major gold deposits, located both north and south of its Kandiole Project in West Mali.

For further information, please contact:

Greg Isenor, P.Geo
Executive Vice-Chairman
Tel: (902) 221-2329
Email: gpisenor@Roscan.ca

Forward-Looking Statements

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. 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. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

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