Dios Exploration — Capital/Financing Update 2020

Sep 22, 2020

MATERIAL CHANGE REPORT

Form 51-102F3

Item 1: Name and address of Issuer

EXPLORATION DIOS INC. CP 114, Succ. NDG Montreal, Quebec H4A 3P4

Item 2: Date of Material Change

September 10, 2020

Item 3: News Release

Press release was issued September 15, 2020.

Item 4: Summary of Material Change

Dios Exploration Inc. has completed a non-brokered private placement in the amount of $1,090,800, pursuant to which 9,090,000 units were issued at the price of 12 cents each.

Item 5: Full description of Material Change

Dios Exploration Inc. has closed a private placement of $1,090,800 (hard dollars) with a lead order from Palisades Goldcorp Ltd., consisting of 9.09 million units of Dios, at the price of 12 cents each and comprising one common share of Dios and one share purchase warrant, each granting the holder the right to purchase one share of Dios at the price of 20 cents, for a period of 36 months. The net proceeds will be used for exploration work on the company's properties, mainly on its wholly owned K2 property (no royalties), and general administrative expenses. Securities issued under this financing are subject to a hold period of four months. This private placement was carried out pursuant to prospectus exemptions of applicable securities laws and is subject to final acceptance by the TSX Venture Exchange. A finder's fee of $48,888 was paid to arm's-length parties.

Item 6: Reliance on subsection 7.1 (2) of Regulation 51-102

N/A

Item 7: Omitted Information N/A Item 8: Executive Officer

Marie-Josée Girard, Chief Executive Officer Tel.: (514) 923-9123

Item 9: Date of Report September 21, 2020.