St. James Gold Corp. — Capital/Financing Update 2021

Jan 15, 2021

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ST. JAMES GOLD ANNOUNCES PRIVATE PLACEMENT

Vancouver, British Columbia—January 15, 2021 – St. James Gold Corp. (TSXV: LORD) (the “Company”) is pleased to announce that it will conduct a non-brokered private placement of up to 450,000 units (“Units”) at a price of $0.672 per Unit for gross proceeds of up to $302,400 (the “Offering”).

Each Unit will be comprised of one common share and one common share purchase warrant (“Warrant”), with each Warrant entitling the holder to purchase one additional common share at $0.84 per share for a period of two (2) years from the date of issue.

All securities issued in connection with the Offering will be subject to a four‐month statutory hold period. The Company may pay a finder’s fee may in cash and or share purchase warrants in accordance with the rules of the TSX Venture Exchange.

The proceeds of the Offering will used to conduct exploration work on the company’s Newfoundland properties, to conduct due diligence on potential acquisitions and for general corporate purposes.

Completion of the private placement remains subject to the approval of the TSX Venture Exchange.

About St. James Gold Corp.

St. James Gold Corp. is a publicly traded company listed on the TSX Venture Exchange focused on creating shareholder value through the discovery and development of economic mineral deposits by acquiring prospective exploration projects with well delineated geological theories, integrating all available geological, geochemical and geophysical datasets, and funding efficient exploration programs. The Company currently holds an option to acquire a 100% interest in 29 claims covering 1,791 acres in the Gander gold district in north-central Newfoundland adjacent to New Found Gold Corp.’s Queensway North project.

George Drazenovic, CPA, CGA, MBA, CFA CEO

St. James Gold Corp. For further information, please contact: George Drazenovic, Chief Executive Officer Tel: 1 (800) 278-2152 Email: info@stjamesgold.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.