Tres-Or Resources Ltd. — Capital/Financing Update 2021

Jan 4, 2021

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NEWS RELEASE

TRES-OR CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT

Vancouver, B.C. – January 4, 2021 - Tres-Or Resources Ltd. (“ Tres-Or ” or the “ Company ”) ( TSXV: TRS, OTCPK: TRSFF ) is pleased to announce that, further to its news release of December 14, 2020, effective December 31, 2020 it has closed the first tranche of its private placement of flow through (the “ FT Units ”) and common share (the “ CS Units ”) units. In this closing, the Company issued 1,246,433 FT Units at a price of $0.15 per FT Unit and 1,470,001 CS Units at a price of $0.15 per CS Unit for total gross proceeds of $407,465.20 (the “ Offering ”).

Each FT Unit consists of one flow-through common share (a “ FT Share ”) and one-half of one common share purchase warrant. Each whole warrant (a “ Warrant ”) entitles the holder to purchase one non-flow-through common share of the Company for a period of 24 months from the date of issue at a price of $0.20 per share. The FT Shares entitle the holder to receive the tax benefits applicable to flow-through shares, in accordance with provisions of the Income Tax Act (Canada). Each CS Unit consists of one non flow-through common share and one-half of one Warrant.

The gross proceeds from the issuance of FT Shares will be used solely for Canadian Exploration Expenses (“ CEE ”) that are “flow-through mining expenditures” (as such terms are defined in the Income Tax Act (Canada)) on the Company’s Guigues Kimberlite Pipe in Quebec. The net proceeds from the sale of the CS Units will be used to fund the Fontana Gold Project property payment and property-related expenses, and for general corporate and working capital purposes.

All securities issued in this first tranche of the Offering are subject to a statutory hold period ending April 30, 2021 in accordance with applicable Canadian securities laws.

About Tres-Or Resources Ltd.

Tres-Or Resources Ltd. is a Canadian resource company focused on exploring for diamonds and gold resources in the Témiscamingue and Abitibi regions of Québec and is listed on the TSX Venture Exchange under the trading symbol “TRS”. Additional information related to the Company is available on SEDAR and on the Company’s website (www.tres-or.com).

On behalf of the Board of Directors

“Laura Lee Duffett”

Laura Lee Duffett, P.Geo. President and CEO

For further information:

Laura Lee Duffett, President & CEO: +1 (604) 541-8376 – info@tres-or.com Website: www.tres-or.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.

Tres-Or Head Office: 1934 - 131 Street | White Rock, B.C. | Canada V4A 7R7 Tel: 604-541-8376 | Fax: 604-541-8926 | www.tres-or.com