Trident Resources Corp. — Capital/Financing Update 2020

Aug 13, 2020

FORM 51-102 F3

MATERIAL CHANGE REPORT

(Pursuant to Part 7 of National Instrument 51-102 - Continuous Disclosure Obligations)

1. Name and Address of Issuer:

EROS Resources Corp. (the “ Issuer ”, the “ Company ” or “ EROS ”) Suite 420 - 789 West Pender Street

Vancouver, British Columbia Canada, V6C 1H2

2. Date of Material Change:

August 12, 2020.

3. Press Release:

A press release was distributed through TheNewswire on August 12, 2020.

4. Summary of Material Changes:

The Company announces the closing of its previously announced rights offering (the “ Rights Offering ”) for aggregate gross proceeds of $2,422,344.35.

5. Full Description of Material Change:

EROS announces the closing of its previously announced rights offering (the “ Rights Offering ”) for aggregate gross proceeds of $2,422,344.35.

The net proceeds of the Rights Offering will be used;

• To make strategic tax advantaged investments that will grow the value of our asset portfolio while reducing future income tax liabilities

• To maintain and advance the Company’s gold mine development project, Bell Mountain in Nevada

• For general corporate purposes.

The Rights Offering was oversubscribed by approximately 191%. The Company received 43,373,784 initial subscriptions pursuant to the basic subscription privilege, and 49,081,602 additional subscriptions pursuant to the additional subscription privilege.

The additional subscriptions were prorated within the 5,073,103 units remaining after the initial subscriptions, and the extraneous balance of subscription funds returned to the subscribers. As a result, the total number of units to be issued under the Rights Offering is the maximum of 48,446,887 units.

Each unit consists of one common share (a “Common Share” ) and half (½) a Common Share purchase warrant, with each full warrant (a “ Warrant ”) exercisable for one Common Share at a price of $0.15 per share until August 12, 2021, subject to early expiry in the event the 20-day weighted average trading price of the Common Shares exceeds $0.30. The Rights Offering remains subject to the final acceptance of the TSXV.

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

This report is not being filed on a confidential basis.

7. Omitted Information:

There are no significant facts required to be disclosed herein which have been omitted.

8. Executive Officer:

For further information contact:

Ron Netolitzky President and Chief Executive Officer Phone: 604-688-8115

9. Date of Report:

August 12, 2020

Forward Looking Statements

This material change report contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that we believe, expect or anticipate will or may occur in the future are forward-looking statements. These forward-looking statements reflect our current expectations or beliefs based on information currently available to us. Forward-looking statements in this material change report include, without limitation, statements with respect to: the closing of the Rights Offering, the closing of the Private Placement and the use of proceeds from the Rights Offering and the Private Placement. Forward-looking statements are subject to a number of risks and uncertainties that may cause our actual results to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, us. Factors that could cause actual results or events to differ materially from current expectations include, among other things, delays in obtaining or failure to obtain required approvals to complete the Rights Offering and the Private Placement; and other risks related to our business, the Rights Offering and the Private Placement. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, we disclaim any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although we believe that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty.

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