Otso Gold Corp. (TSX-V:OTSO) is pleased to announce that it has received US$11.155 million from the exercise of 284,944,440 common share purchase warrants previously issued to Brunswick Gold Ltd on a private placement basis on February 8, 2021. For further details regarding the Warrants, see the Company’s press release dated February 8, 2021.

The Company intends to use the proceeds from the exercise of the Warrants to enable it to continue the Company’s return to production of the Otso Gold Mine, targeted in Q3.

Additionally, the Company expects the previously announced updated NI 43-101 Technical Report from John T. Boyd Company will be published shortly.  The report was delayed as a result of the Company making the decision to bring further results from previous drilling compaigns and further results from the current drilling program.

About Otso Gold Corp

Otso Gold Corp. wholly owns the Otso Gold Mine near the Town of Raahe, Finland. The
Otso Gold Mine is fully built, fully permitted, has all infrastructure in place, two open pits
and is progressing towards a restart at 2 million tonnes per annum throughput.