Early Warning Notice Regarding Investment in Red Lake Gold Inc.

Early Warning Notice Regarding Investment in Red Lake Gold Inc.

Canada NewsWire

VANCOUVER, British Columbia, June 8, 2020

This press release is issued pursuant to Multilateral Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.

VANCOUVER, British Columbia, June 8, 2020 /CNW/ - Mr. Ryan Kalt reports that he has today acquired 1,430,000 common shares of Red Lake Gold Inc. (CSE: RGLD) ("Red Lake Gold" or the "Company" or the "Issuer") by way of the early exercise of common share purchase warrants of the Company (the "EWR Event") at an exercise price of $0.10 per common share under which Mr. Kalt has paid $143,000 to the Issuer. Mr. Kalt originally acquired the common share purchase warrants exercised today in private placement financings by the Issuer on June 5, 2019 and July 10, 2019, respectively.

As of the date of this news release, Mr. Kalt now owns or has control or direction over an aggregate of 10,937,300 common shares of Red Lake Gold, representing approximately 37.47% of the Company's issued and outstanding common shares, an increase of 3.22% of the Issuer's outstanding common shares held by Mr. Kalt when compared to Mr. Kalt's holdings of the Issuer's outstanding common shares prior to the EWR Event.

The shares were acquired by Mr. Kalt for investment purposes. Mr. Kalt may acquire additional securities of RGLD either on the open market or through private acquisitions or sell securities of RGLD either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. Other than the foregoing, Mr. Kalt does not have plans or any future intentions which relate to or would result in any of the other foregoing matters.

"Ryan Kalt"

Ryan Kalt

The Form 62-103F1 – Required Disclosure under the Early Warning Requirements associated with this news release can be obtained from Red Lake Gold's profile on SEDAR at www.sedar.com. In the alternate, to obtain a copy of the report, please contact Mr. Kalt at 1.604.652.1710.

The CSE has not reviewed, approved or disapproved the contents of this press release.

SOURCE Ryan Kalt

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