Spruce Ridge Resources Announces Results of 2020 Annual General

PUSLINCH, January 4, 2021 - Spruce Ridge Resources Ltd. (TSXV:SHL) ("Spruce Ridge" or the "Company") is pleased to announce the results of its 2020 Annual general of shareholders (the "Meeting") held on December 30, 2020.

Results of the Meeting

At the Meeting, the shareholders:

1. Approved the election of the directors proposed by management of the Company, namely: Marc Askenasi, Colin Bowdidge, Michael Dehn, Zoran Popovic and John Ryan (each director being elected with over 99.4% of votes cast);
2. Confirmed the re-appointment of S & W LLP, Chartered Professional Accountants as the Company's auditor for the upcoming year (approved by over 99.8 % of votes cast);
3. Re-approved the Company's Stock Option Plan (approved by over 99.5% of votes cast).

About Spruce Ridge Resources Ltd.

Spruce Ridge holds a 100% interest in the Great Burnt Copper-Gold Property in Central Newfoundland which covers a series of copper ± gold rich VMS deposits. Spruce Ridge sold its interest in in the Crawford Nickel-Cobalt Sulphide project to Canada Nickel Company Inc. but retained ground which contains VMS and gold targets. Spruce Ridge holds 8,100,000 shares of Canada Nickel Company and 10,000,000 shares of Noble Mineral Exploration Inc. Spruce Ridge has an option agreement with Magna Terra Minerals Inc. on its Viking/Kramer gold properties in Western Newfoundland.

Spruce Ridge common shares trade on the TSX Venture Exchange under the symbol "SHL".

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.

For further information please contact:

John Ryan, President and CEO
Spruce Ridge Resources Ltd.
Phone: 519-822-5904
Email: spruceridgeresources@gmail.com

SOURCE: Spruce Ridge Resources Ltd.