Terra Rossa Gold Ltd. — Capital/Financing Update 2021

Jan 9, 2021

BAROYECA GOLD & SILVER INC.

Suite 1008 - 409 Granville Street Vancouver, BC V6C 1T2 Telephone (604) 689-5002 Fax: (604) 689-5003

January 8, 2021

TSX-V: BGS

Update on Private Placement Financing

VANCOUVER, B.C. – BAROYECA GOLD & SILVER INC. (the “Company”) is pleased to confirm that it is still proceeding with its non-brokered private placement financing announced in its news release of December 17, 2020 to raise up to $2,024,000 through the sale of up to 9,200,000 units of its securities (the “Units”) at a price of $0.22 per Unit, each Unit consisting of one common share and one non-transferable share purchase warrant (a “Warrant”), with each such Warrant entitling the holder to acquire one additional common share of the Company at a price of $0.30 per share for a period of two years. The Company may pay fees in cash and/or securities in connection with this financing.

The proceeds from the private placement will be used for property acquisition costs, property exploration expenses and general working capital.

The private placement has now been fully subscribed and is subject to acceptance for filing by the TSX Venture Exchange.

BAROYECA GOLD & SILVER INC.

Per: “Richard Wilson” Richard Wilson, CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release.