Gambier Gold Announces Private Placement

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VANCOUVER, BC October 9, 2020 – Gambier Gold Corp. (TSX-V: GGAU) (the “Company”) is pleased to announce that it intends to complete a non brokered private placement to raise gross proceeds of up to $450,000 (the “Financing”) by way of the issuance of up to 3,000,000 units (the “Units”) of the Company at a price of $0.15. Each Unit will consist of one common share and one-half share purchase warrant (the “Warrant”). Each whole Warrant will entitle the holder to purchase one additional common share, up to a total of 1,500,000 at an exercise price of $0.20 for a period of two (2) years from the date of closing.

The Corporation will use the net proceeds of the Financing for exploration at its Hemlo and Detour West (Ontario) gold projects, as well as for working capital purposes.

Shares issued pursuant to the Financing will be subject to a four-month hold period according to applicable securities laws of Canada.

Finders’ fees may be payable on the private placement, subject to the policies of the TSX Venture Exchange.

ON BEHALF OF THE BOARD

Michael E. Schuss

President & CEO

For further information, please contact:

Gambier Gold Corp.
Phone: (604) 241-2254
E-mail: info@gambier.gold

Website:  www.gambier.gold

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