Galore Resources Inc. — Capital/Financing Update 2020

Aug 21, 2020

BC FORM 51-102F3 Securities Act

MATERIAL CHANGE REPORT

Item 1: Name and Address of Company

Galore Resources Inc.

19141 Stone Oak Pkwy #104 San Antonio, Texas 78258, USA

Item 2: Date of Material Change

August 21, 2020

Item 3: News Release

August 21, 2020, Vancouver, B.C.

Item 4: Summary of Material Change

The Issuer announces that further to its news releases of May 12 and July 22, 2020, the Company has now closed its non-brokered private placement financing at $0.03 (the “Financing”). In the Financing, the Company issued 2,521,623 Units, raising proceeds of CAD $75,648.69. Each Unit consists of one common share and one share purchase warrant. Each warrant is exercisable into one additional common share at a price of CAD $0.05 per share for a period of five years from the date of issuance.

Item 5: Full Description of Material Change

Please see attached news release for further details.

Item 6: Reliance on subsection 7.1(2) or (3) of National Instrument 51-102

Not applicable.

Item 7: Omitted Information

No information has been omitted on the basis that it is confidential.

Item 8: Executive Officer

Mike McMillan, President & CEO. Tel: (210) 860-9212.

Item 9: Date of Report

The foregoing accurately discloses the material change referred to herein.

DATED at Vancouver, this 21[st] day of August, 20202.

“Michael McMillan” Signature

Michael McMillan Name - please print

FOR IMMEDIATE RELEASE

August 21, 2020

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GALORE ANNOUNCES CLOSING OF PRIVATE PLACEMENT FINANCING

Vancouver, BC: Galore Resources Inc. (TSX-V: GRI) (“Galore” or the “Company”) announces that further to its news releases of May 12 and July 22, 2020, the Company has now closed its non-brokered private placement financing at $0.03 (the “Financing”). In the Financing, the Company issued 2,521,623 Units, raising proceeds of CAD $75,648.69.

Each Unit consists of one common share and one share purchase warrant. Each warrant is exercisable into one additional common share at a price of CAD $0.05 per share for a period of five years from the date of issuance.

Securities issued in the Financing are subject to a four-month statutory hold period, which expires November 24, 2020.

About Galore Resources

Galore Resources is a mineral exploration and development company whose focus is to make and develop significant mineral discoveries, which are supported by a sustainable business model. Our goal is to discover a world-class gold and silver deposit in Mexico. Our flagship project is in the heart of the Concepcion del Oro Mining District, the Dos Santos Project. This project covers two historic gold zones and has the potential to host bulk tonnage gold-silver deposits based on past drilling, trenching and a recent airborne geophysical survey.

ON BEHALF OF THE BOARD

“Michael McMillan”

President and CEO

To find out more about Galore Resources (TSX.V:GRI) please contact: Mike McMillan at (210) 860-9212 (USA)

Please visit our website at www.galoreresources.com or contact us at mike@galoreresources.com.

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.