Starr Peak Announces $1,000,000 Flow-Through Financing

/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN./

VANCOUVER, July 17, 2020 - Starr Peak Exploration Ltd. ("Starr Peak" or the "Company") (TSXV: STE) (OTC: STRPF) is pleased to announce a $1,000,000 non-brokered private placement of flow-through units.

The flow through funding will consist of 666,667 flow through units ("FT Units"), priced at $1.50 each for gross proceeds of $1,000,000. Each Flow-Through Unit issued pursuant to the Offering will consist of one common flow-through share in the capital of the Company (a "Common Flow-Through Share") and one-half of one Common Share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share for a period of eighteen (18) months following the closing date, at a price of $2.00.

On June 1, 2020, the Company expanded its NewMétal property ("NewMétal" or "the Property") in northwestern Quebec where a block of claims are directly adjacent to and on trend to Amex Exploration Inc.'s Perron project on its eastern side where Amex is currently drilling towards. It is also adjacent to past producing Normétal Mine. The geology underlaying the newly expanded land package is comprised of felsic and intermediate volcanic and felsic plutonic rocks of the Normétal formation and is highly prospective for gold-rich VMS mineralization and orogenic gold mineralization.

With these funds Starr Peak plans to complete an initial program of compilation, prospecting, geological mapping, airborne EM survey and high-resolution MAG drone geophysics in summer and fall of 2020 in order to prepare for an inaugural winter drilling campaign.

A finder's fee may be paid in connection and on a portion of this private placement of 6% cash and 6% compensation units. The proposed private placement and any finder's fees are subject to TSX Venture Exchange approval. All shares issued pursuant to this offering and any shares issued pursuant to the exercise of warrants will be subject to a four-month hold period from the closing date.

About Starr Peak Exploration Ltd.

Starr Peak Exploration Ltd. is a Canadian based mineral exploration company focused on the acquisition and exploration of precious and base metal mineral deposits. The primary objective of the Company is to acquire, explore and develop high potential and quality gold deposits and projects in the Americas. The Company is committed to create long term shareholder value through mineral discoveries.

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Starr Peak's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the ability of Company to complete the financings and its ability to build value for its shareholders as it develops its mining properties. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Starr Peak. Although such statements are based on management's reasonable assumptions, there can be no assurance that the proposed transactions will occur, or that if the proposed transactions do occur, will be completed on the terms described above.

The forward-looking information contained in this release is made as of the date hereof and Starr Peak is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

This announcement does not constitute an offer, invitation, or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.

The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, within the United States, unless the securities have been registered under the Securities Act or an exemption from the registration requirements of the Securities Act is available.

SOURCE Starr Peak Exploration Ltd.