Pasofino Gold Announces the Appointment of New Chief Financial Officer

Toronto, Ontario--(Newsfile Corp. - November 19, 2020) - Pasofino Gold Limited  (TSXV: VEIN) (FSE: N07) ("Pasofino" or the "Company") is pleased to announce appointment of Lincoln Greenidge as Chief Financial Officer. He succeeds Stephen Dunn, who has served as interim CFO since February 28, 2020.

Mr. Greenidge has previously served as the CFO of LSC Lithium Corporation, CFO of LeadFX, and Corporate controller of IAMGOLD and HudBay Minerals Inc. Lincoln brings over 20 years of corporate finance, M&A, capital markets, and operations experience to the Pasofino team.

A recipient of multiple awards, Mr. Greenidge has been named Top Professional in Finance, awarded by the International Association of Top Professionals in 2016. Mr. Greenidge obtained his Bachelor of Commerce in Accounting with Honours from the University of Ottawa.

Krisztian Toth, Chairman of the Board of Pasofino, commented: "We are pleased to welcome Lincoln to our leadership team. His experience will be essential to leading our organization and advancing the Company's business plans. We look forward to benefiting from Lincoln's expertise as we accelerate our work program to realize the full value potential of the Dugbe Gold Project."

About Pasofino Gold Ltd.

Pasofino Gold Ltd. is a Canadian-based mineral exploration company listed on the TSX-V (VEIN) and FSE (N07).

Through its wholly-owned subsidiary, ARX Resources Limited, Pasofino has an option to earn a 49% economic interest (prior to the issuance of the Government of Liberia's 10% carried interest) in the Dugbe Gold Project. Pasofino is also earning a 50% interest in the advanced-stage Roger Gold-Copper Project located in Quebec's prolific Abitibi Greenstone Belt.

For further information, please visit or contact:

Ian Stalker, President & CEO Africa
T: 604 367 8110

Steve Dunn, President & CEO North America
T: (416) 361-2827

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.

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