ODYSSEY GOLD LTD — Capital/Financing Update 2020

Dec 28, 2020

24 December 2020

COMPLETION OF MURCHISON PROJECT ACQUISITIONS

Odyssey Gold Limited (ASX:ODY) (“Odyssey” or “Company”) is pleased to announce the successful completion of its acquisition of two high-grade gold exploration projects in the Murchison Goldfields.

The Tuckanarra and Stakewell Gold Projects both have historical high-grade gold production and excellent exploration potential, favourably located on the Great Northern Highway between Cue and Meekatharra.

Completion of the two acquisitions provides Odyssey with a highly prospective footprint in the Meekatharra-Cue belt, with over 30km of strike of highly fertile Banded Iron Formation (“ BIF ”) and greenstones, with extensive gold mining history and outstanding exploration potential.

The Company is continuing its review and validation of the extensive historical data and results for the projects.

In addition, the Company has received its conditional listing letter from ASX. Completion of the two acquisitions satisfies a key condition for the re-instatement of the Company's shares to trading. The Company is working closely with ASX to satisfy the remaining conditions with a targeted relisting date in early 2021. The Company will update the market once a reinstatement date has been confirmed.

For further information, please contact:

Matt Syme Executive Director Tel: +61 8 9322 6322

ABN: 73 116 151 636 ASX: ODY Level 9, 28 The Esplanade, Perth WA 6000 Tel: +61 8 9322 6322 Fax: +61 8 9322 6558