Kestrel Gold Inc. Announces Issuance of Shares Pursuant to Settlement of Debt

CALGARY, August 31, 2020 - Kestrel Gold Inc. (the "Corporation" or "Kestrel") (TSXV:KGC) announces that, further to its News Release of July 29, 2020, the TSX Venture Exchange has accepted and the Corporation has, as at August 31, 2020, issued 1,000,000 Common Shares at a deemed price of $0.035 per Common Shares in settlement of management fees in the amount of $35,000.

About Kestrel Gold Inc.

Kestrel Gold Inc. is a Canadian listed public company with its shares trading on the TSX Venture Exchange under the symbol "KGC". The Company's registered and head office is Suite 208, 110 - 12th Avenue SW, Calgary, Alberta, T2R 0G7.

Kestrel is a resource exploration stage company engaged in the acquisition and exploration of mineral properties.

For further information contact:

Robert Solinger, President and CEO
Phone: (403) 816-2141
rob@solinger.ca

Neither 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.

SOURCE: Kestrel Gold Inc.