GoldSpot Discoveries Corp. Announces New Chief Technology Officer

Toronto, Ontario--(Newsfile Corp. - July 15, 2020) - GoldSpot Discoveries Corp. (TSXV: SPOT) (the "Company" or "GoldSpot") is pleased to announce today the appointment of Shawn Hood, Ph.D., M.Sc., P.Geo, as Chief Technology Officer (CTO).

Shawn is a designated Professional Geoscientist in Economic Geology with hands-on mineral exploration and mining experience spanning 15 years. He was most recently the Vice President of Technical Services to GoldSpot, working across project management and client servicing. In his new role, Shawn will oversee GoldSpot's technology strategy as it applies to research and development, project success, and data management strategies.

Prior to joining GoldSpot, Shawn's roles have included greenfield and brownfield exploration, open pit and underground mining, and academic research. With a broad base of experience in base- and precious-metals, Shawn strives to merge novel and practical solutions with traditional geological approaches, and to maximize value for GoldSpot's clients and to GoldSpot's investment base. Along with his appointment, pursuant to the Company's stock option plan and subject to TSX Venture Exchange approval, the Board has granted 500,000 stock options to Mr. Hood exercisable at $0.18 per common share for a term of five years ("Stock Options").

Denis Laviolette, Executive Chairman and President of GoldSpot, said, "Shawn Hood has played an integral role on the technical side of our business and is a welcome addition to the executive team. We have full confidence in his capabilities to continue to push our research and development and to ensure we remain leaders in this space."

The Company has also granted an aggregate of 2,420,000 Stock Options to purchase common shares of the Company to certain employees, officers and directors of the Company. Of the total, officers and directors were granted 1,750,000 Stock Options. The Stock Options have been granted in accordance with the Company's stock option plan.

The common shares issuable upon exercise of the Stock Options are subject to a four month hold period from the original date of grant.

About GoldSpot Discoveries Corp.

GoldSpot Discoveries Corp. (TSXV: SPOT) is a technology and investment company that leverages machine learning to reduce capital risk while working to increase efficiency and success rates in resource exploration and investment. GoldSpot Discoveries combines proprietary technology with traditional domain expertise, offering a front-to-back service solution to its partners, and in some cases, capital to kickstart exploration programs. GoldSpot's solutions target big data problems, making full use of historically unutilized data to better comprehend resource property potential.

For further information please contact:

Denis Laviolette,
Executive Chairman and President
GoldSpot Discoveries Corp.
Tel: 647-992-9837
Email: denis@GoldSpot.ca

Cautionary Statement on Forward -Looking Information

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

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, uncertainty over the outcome of any litigious matters, the Company's objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. 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, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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