News Archives

2020 News Releases

September 8, 2020

EROS RESOURCES CORP. TO START ADDITIONAL EXPLORATION WORK AT BELL MOUNTAIN, PERMITTING STAGE GOLD MINE DEVELOPMENT PROJECT


Vancouver, September 8th, 2020 - EROS Resources Corp. (“EROS” or the “Company”) (TSXV: ERC) is pleased to announce that it is planning additional exploration and drilling at the Bell Mountain, a permitting stage gold mine development project, located in Churchill County, Nevada

“The purpose of the exploration programs is to potentially upgrade the existing resource base at this active, permitting stage gold mine development project, Bell Mountain.” stated Ron Netolitzky, CEO of the company. (For details about the current resource model, please refer to the following web page; https://www.erosresourcescorp.com/active-projects)

Bell Mountain is operated by Bell Mountain Exploration Corp., a Nevada corporation, wholly owned by EROS.

SOIL GEOCHEMICAL SURVEY TO IDENTIFY DRILL TARGETS

In an effort to identify satellite deposits of gold-silver mineralization at Bell Mountain, a soil geochemical survey is planned to cover approximately 992 acres (401 hectares) in near proximity and on trend with the known deposits.

Eros plans to collect 1,000 soil samples on a 200 ft x 200 ft sample grid. Where bedrock is present, a rock-chip sample will be collected. Certified reference material, blanks, duplicates, and second-lab check assays will be part of the quality control and assurance program. Targets will be determined by anomalous gold in soil and favorable geology (silicification) where present. Reverse-circulation exploration drilling will test targets as warranted.

Additional reverse-circulation drilling will include:

INFILL DRILLING

Select infill drill holes will be completed where cross sections indicate additional holes would add internal confidence to the resource estimate.

STEP OUT DRILLING

Step-out drilling will be conducted where the edges of mineralization are locally open or projected and untested.

CONDEMNATION DRILLING

A few condemnation holes are necessary to confirm barren ground where mine dumps are planned.

Most drill holes will be angle holes less than 300 ft in depth.

Qualified Person

Mr. Jeffrey Wilson of Carson City, Nevada, is a consulting geologist to Eros. Mr. Wilson is a "Qualified Person" within the context of National Instrument 43-101, is responsible for the preparation of this news release and has read and approved its technical aspects.

About EROS

Eros Resources Corp. is a Canadian public company listed on the Toronto Venture Exchange. The Company’s business objective is the identification, acquisition and exploration of advanced-stage projects with a North American focus. In addition, the Company plans to make strategic investments with a global focus on a diverse commodity base. EROS managements’ expertise supports this strategy.

Eros operates in the USA through its 100% owned subsidiary Bell Mountain Mining Corp., a Nevada corporation based in Carson City Nevada

For further information, please contact:

EROS Resources Corp.

Ron Netolitzky

President and Chief Executive Officer

Phone: 604-688-8115

Forward Looking Statements

This release 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 release include, without limitation, statements with respect to: the closing of the Private Placement and the use of proceeds from 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 Private Placement; and other risks related to our business. 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.

Neither the 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.

EROS Resources Corp.

Suite 420 - 789 West Pender Street

Vancouver, British Columbia,

Canada, V6C 1H2

For more information, please contact:

Lubica Keighery

VP Corporate Development

c: 778-889-5476

lubica@erosresourcescorp.com

NEWS RELEASE PDF

August 31, 2020

EROS RESOURCES CORP. MOVES FORWARD WITH THE PERMITTING PROCESS ON BELL MOUNTAIN

VANCOUVER, B.C. August 31, 2020 – EROS Resources Corp. (“EROS” or the “Company”) (TSXV: ERC) is pleased to announce progress in its permitting process for the Bell Mountain Mine (gold and silver) in Churchill County, Nevada.

Summary:

  • Application for the Water Pollution Control Permit submitted

  • The permit is one of the most important documents required to move the project forward

  • Previous Environmental Assessment resulted in Finding of No Significant Impact (FONSI)

Bell Mountain Exploration Corp. (BMEC), a Nevada corporation wholly owned by EROS, has recently submitted a Water Pollution Control Permit Application (WPCPA) to the Nevada Bureau of Mining Regulation and Reclamation (BMRR).

According to the BMRR, facilities utilizing chemicals for processing ores in Nevada are generally required to meet a zero discharge performance standard. Water Pollution Control Permits are issued to an operator by the BMRR to ensure operation of the facility will not result in degradation of waters of the State. This is a major permit issued by the State of Nevada.

The large permit application document was prepared by Welsh Hagen Associates of Reno, Nevada. As required by Nevada Administrative Code, the document includes an Assessment of Area of Review, Meteorological Report, Engineering Design Report (including detail design sheets), Fluid Management Plan, Proposed Operating Plans, Monitoring Plan, Emergency Response Plan, and Tentative Plan for Permanent Closure. The BMRR review process normally takes 180 days for completion of new applications.

The aforementioned WPCPA submission for the Bell Mountain Mine is part of a continuing permit process which has included an approved Mine Plan of Operations, an Environmental Assessment with a Finding of No Significant Impact and a Decision Record approving advancement of the project. The Principal Deputy of the U.S. Navy has also confirmed in a letter that they are committed to work with BMEC in accommodating mine development adjacent to the Fallon Naval Air Station.

Mr. Ron Netolitzky, President and CEO of EROS, states “The Company is very pleased with the progress made in the permitting process of the Bell Mountain Mine. We are excited about moving the Bell Mountain gold/silver project forward. We firmly believe the scale of the Bell Mountain can be further increased with additional exploration work on the property in the near term, and that’s what we plan to do. I thank our technical team in Nevada, along with our consultants, for their diligent and tireless work.”

About Bell Mountain Gold Project

Eros’ 100% owned Bell Mountain Gold Project is located near Fallon, Nevada. Highlights of the Preliminary Economic Assessment that was completed in 2017 (See Eros’ press release of October 11, 2017) and which has not been updated for current gold and silver pricing, include:

  • Pre-tax net present value (“NPV” @ 5% and internal rate of return (“IRR”) of $17.6 million and 41.4% respectively, along with a payback period of 1.7 years, using a USD $1,300/oz price of gold and a USD $17.50/oz price of silver.

  • After tax NPV @ 5% and IRR of $9.3M and 24.7% respectively, with a payback period of 2.7 years.

  • 4 year mine life, with total production of 60,056 ounces of gold and 408,498 ounces of silver, before expansion based on renewed exploration.

  • Life of mine cash cost of $759 per produced ounce, net of by-product silver and including royalty payments totalling $2.56 million.

For further details, please refer to www.sedar.com

Eros has engaged McClelland Laboratories in Reno, NV to estimate capital and operating costs (±20%) for the Bell Mountain Gold Project. Subsequent data will be used to update the present economic model.

Furthermore, Eros is planning to reinstate the exploration activities in a near future, with the purpose of further expanding the current resource base.

Eros operates in the USA through its 100% owned subsidiary Bell Mountain Mining Corp., a Nevada corporation based in Carson City Nevada.

Qualified Person

Mr. Jeffrey Wilson of Carson City, Nevada, is a consulting geologist to Eros. Mr. Wilson is a "Qualified Person" within the context of National Instrument 43-101, is responsible for the preparation of this news release and has read and approved its technical aspects.

About EROS

Eros Resources Corp. is a Canadian public company listed on the Toronto Venture Exchange. The Company’s business objective is the identification, acquisition and exploration of advanced-stage projects with a North American focus. In addition, the Company plans to make strategic investments with a global focus on a diverse commodity base. EROS managements’ expertise supports this strategy.

For further information, please contact:

EROS Resources Corp.

Ron Netolitzky

President and Chief Executive Officer

Phone: 604-688-8115

Forward Looking Statements

This release 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 release include, without limitation, statements with respect to: the closing of the Private Placement and the use of proceeds from 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 Private Placement; and other risks related to our business. 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.

Neither the 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.


EROS Resources Corp.

Suite 420 - 789 West Pender Street

Vancouver, British Columbia,

Canada, V6C 1H2

For more information, please contact:

Lubica Keighery

VP Corporate Development

c: 778-889-5476

lubica@erosresourcescorp.com

NEWS RELEASE PDF

August 13, 2020

EROS RESOURCES CORP. ANNOUNCES CLOSING OF A PRIVATE PLACEMENT

VANCOUVER, B.C. August 13, 2020 – EROS Resources Corp. (“EROS” or the “Company”) (TSXV: ERC) closed a non-brokered private placement financing (the “Private Placement”), issuing 1,000,000 units of the Company for the proceeds of $75,000. 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 13, 2022.

The net proceeds of the Private Placement 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 the Company’s Bell Mountain Project and for general corporate purposes.

The Private Placement is subject to the final acceptance of the TSXV. The securities issued via the placement subject to a statutory four month and one day hold period.

About EROS

Eros Resources Corp. is a Canadian public company listed on the Toronto Venture Exchange. The Company’s business objective is the identification, acquisition and exploration of advanced-stage projects with a North American focus. In addition, the Company plans to make strategic investments with a global focus on a diverse commodity base. EROS managements’ expertise supports this strategy.

For further information, please contact:

EROS Resources Corp.

Ron Netolitzky

President and Chief Executive Officer

Phone: 604-688-8115

ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE US. SECURITIES ACT OF 1933 (THE “1933 ACT”) AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward Looking Statements

This release 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 release include, without limitation, statements with respect to: the closing of the Private Placement and the use of proceeds from 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 Private Placement; and other risks related to our business. 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.

Neither the 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.

EROS Resources Corp.

Suite 420 - 789 West Pender Street

Vancouver, British Columbia,

Canada, V6C 1H2

For more information, please contact:

Lubica Keighery

VP Corporate Development

c: 778-889-5476

lubica@erosresourcescorp.com

NEWS RELEASE PDF

August 12, 2020

EROS RESOURCES CORP. ANNOUNCES CLOSING OF A HIGHLY SUCCESSFUL, FULLY SUBSCRIBED RIGHTS OFFERING

VANCOUVER, B.C. August 12, 2020 – EROS Resources Corp. (“EROS” or the “Company”) (TSXV: ERC) is pleased to announce 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.

About EROS

Eros Resources Corp. is a Canadian public company listed on the Toronto Venture Exchange. The Company’s business objective is the identification, acquisition and exploration of advanced-stage projects with a North American focus. In addition, the Company plans to make strategic investments with a global focus on a diverse commodity base. EROS managements’ expertise supports this strategy.

For further information, please contact:

EROS Resources Corp.

Ron Netolitzky

President and Chief Executive Officer

Phone: 604-688-8115

ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE US. SECURITIES ACT OF 1933 (THE “1933 ACT”) AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward Looking Statements

This release 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 release 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.

Neither the 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.

EROS Resources Corp.

Suite 420 - 789 West Pender Street

Vancouver, British Columbia,

Canada, V6C 1H2

For more information, please contact:

Lubica Keighery

VP Corporate Development

c: 778-889-5476

lubica@erosresourcescorp.com

NEWS RELEASE PDF

July 21st, 2020

EROS RESOURCES CORP. - REMINDER - RIGHTS OFFERING EXPIRES ON AUGUST 7th, 2020

Vancouver, BC July 21nd, 2020 - EROS Resources Corp. (“EROS” or the “Company”) (TSXV: ERC) reminds holders of the Company’s outstanding rights (“Rights”) (TSXV: ERC.RT) of important, upcoming deadlines and details for the Rights offering (“Rights Offering”) previously announced on May 22nd, 2020.

The Company announced on May 22nd, 2020 an offer to shareholders of record on June 1st, 2020, Rights to purchase common shares of the Company.

Each right entitles the holder to subscribe for one unit of the Company (a “Unit”) upon payment of a subscription price of $0.05 per Unit. Each Unit consists of one 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 for a period of twelve (12) months from the issuance date of the Warrant, subject to early expiry in the event the 20-day weighted average trading price of the Common Shares exceeds $0.30. The Warrants, when issued, are not expected to be listed on any stock exchange.

Important Details and Reminders:

  • The Rights Offering will expire at 5:00 p.m. (Toronto time) on August 7, 2020, after which time unexercised rights will be void and of no value.

  • Shareholders must take action to exercise or sell their Rights

  • Shareholders who fully exercise their rights will be entitled to subscribe for additional Units, if not all of the Units have been subscribed for under the basic subscription privilege prior to expiry time

  • Rights can be bought or sold publicly on the TSXV – symbol “ERC.RT”

  • Rights will trade for cash settlement for the 3 days prior to expiry, beginning August 4, 2020

  • The rights offering circular is available on SEDAR and on the Company’s webpage;

https://www.erosresourcescorp.com/investor-info/rights-offering-documents

The Company currently has 48,446,887 Common Shares outstanding. A maximum of 48,446,887 Units will be issued under the Rights Offering. If all the rights issued are validly exercised, the offering will raise gross proceeds of approximately $2,422,344.35, the net proceeds of which 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 the Company’s Bell Mountain Project and for general corporate purposes. See the Circular for additional information.

The completion of the Rights Offering is not subject to EROS receiving any minimum amount of subscriptions. The Company has not entered into any standby guarantee with any party in respect of the Rights Offering.

The Rights Offering is subject to regulatory approval, including the approval of the TSXV. The Company has obtained conditional approval from the TSXV.

About EROS

Eros Resources Corp. is a Canadian public company listed on the Toronto Venture Exchange. The Company’s business objective is the identification, acquisition and exploration of advanced-stage projects with a North American focus. In addition, the Company plans to make strategic investments with a global focus on a diverse commodity base. EROS managements’ expertise supports this strategy.

For further information, please contact:

EROS Resources Corp.

Ron Netolitzky

President and Chief Executive Officer

Phone: 604-688-8115

ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE US. SECURITIES ACT OF 1933 (THE “1933 ACT”) AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward Looking Statements

This release 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 release include, without limitation, statements with respect to: the closing of the Rights Offering, the gross proceeds of the Rights Offering and the use of proceeds from the Rights Offering. 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, uncertainties relating to the availability and cost of funds; closing the Rights Offering; delays in obtaining or failure to obtain required approvals to complete the Rights Offering; the uncertainty associated with estimating costs to complete the Rights Offering, including those yet to be incurred; potential risks and uncertainties relating to the ultimate geographic spread of the novel coronavirus (COVID-19), the severity of the disease, the duration of the COVID-19 outbreak, actions that may be taken by governmental authorities to contain the COVID-19 outbreak or to treat its impact and the potential negative impacts of COVID-19 on the global economy and financial markets; and other risks related to our business and the Rights Offering. 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.

Neither the 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.

EROS Resources Corp.

Suite 420 - 789 West Pender Street

Vancouver, British Columbia,

Canada, V6C 1H2

For more information, please contact:

Lubica Keighery

VP Corporate Development

c: 778-889-5476

lubica@erosresourcescorp.com

NEWS RELEASE PDF

June 8th, 2020

Eros’ Rights Offering Documents Mail Out Today

Vancouver, June 8th, 2020 - Eros Resources Corp. (“Eros” or the “Company”) (TSXV: ERC) announces that it is mailing out today the materials for its previously announced rights offering (the “Rights Offering”) to the available mailing address on file. The copy of the documents will also be available for download directly from Eros’ website at: https://www.erosresourcescorp.com/investor-info/rights-offering-documents

Registered shareholders who wish to exercise their rights must forward the completed rights certificate, together with the applicable funds, to the rights agent, Computershare Investor Services Inc., on or before the expiry date, which is August 7th, 2020. Shareholders who own their common shares of the Company (“Common Shares”) through an intermediary, such as a bank, trust company, securities dealer or broker, will receive materials and instructions from their intermediary.

The Rights Offering will be conducted in all provinces and territories of Canada. However, certain holders of Common Shares in jurisdictions outside of Canada may be able to participate in the Rights Offering where they can establish that the transaction is exempt under applicable legislation.

If you are a holder of Common Shares and reside outside of Canada, please review the Notice of Rights Offering, Rights Offering Circular and Notice to Ineligible Shareholders to determine your eligibility and the process and timing requirements to receive and, or, exercise your rights.

The Company requests any ineligible shareholder interested in exercising their rights to contact the Company at their earliest convenience. A copy of the Notice of Rights Offering and the Rights Offering Circular is also available under the Company's profile on SEDAR at www.sedar.com.

The closing date for the Rights Offering is scheduled for August 12th, 2020.

For more information about the Rights Offering, please see the Company’s news release date May 22, 2020.

A direct link to the news release is attached below;

https://www.erosresourcescorp.com/investor-info/news/2020-05-22-rights-offering

About EROS

Eros Resources Corp. is a Canadian public company listed on the Toronto Venture Exchange. The Company’s business objective is the identification, acquisition and exploration of advanced-stage projects with a North American focus. In addition, the Company plans to make strategic investments with a global focus on a diverse commodity base. EROS managements’ expertise supports this strategy.

ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE US. SECURITIES ACT OF 1933 (THE “1933 ACT”) AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward Looking Statements

This release 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 release include, without limitation, statements with respect to: the closing of the Rights Offering, the gross proceeds of the Rights Offering and the use of proceeds from the Rights Offering. 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, uncertainties relating to the availability and cost of funds; closing the Rights Offering; delays in obtaining or failure to obtain required approvals to complete the Rights Offering; the uncertainty associated with estimating costs to complete the Rights Offering, including those yet to be incurred; potential risks and uncertainties relating to the ultimate geographic spread of the novel coronavirus (COVID-19), the severity of the disease, the duration of the COVID-19 outbreak, actions that may be taken by governmental authorities to contain the COVID-19 outbreak or to treat its impact and the potential negative impacts of COVID-19 on the global economy and financial markets; and other risks related to our business and the Rights Offering. 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.

Neither the 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.

EROS Resources Corp.

Suite 420 - 789 West Pender Street

Vancouver, British Columbia,

Canada, V6C 1H2

For more information, please contact:

Lubica Keighery

VP Corporate Development

c: 778-889-5476

lubica@erosresourcescorp.com

NEWS RELEASE PDF

May 22, 2020

Eros Resources Corp Announces Rights Offering

VANCOUVER, B.C. May 22, 2020 – EROS Resources Corp. (“EROS” or the “Company”) (TSXV: ERC) announces that it will be completing a rights offering (the “Rights Offering”) in which holders of record of the Company's common shares (the “Common Shares”), as at the record date of June 1, 2020, will receive rights to subscribe for units of the Company on the basis of one right for each Common Share held. The Rights Offering will be made in all the provinces and territories of Canada (the “Eligible Jurisdictions”) and in such other jurisdictions where EROS is eligible to make such offering.

Each right will entitle the holder to subscribe for one unit of the Company (a “Unit”) upon payment of a subscription price of $0.05 per Unit. Each Unit consists of one 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 for a period of twelve (12) months from the issuance date of the Warrant, subject to early expiry in the event the 20-day weighted average trading price of the Common Shares exceeds $0.30. The Warrants, when issued, are not expected to be listed on any stock exchange.

Subject to the receipt of final approval from the TSX Venture Exchange (“TSXV”), the Common Shares are expected to commence trading on the TSXV on an ex-rights basis at the opening of business on May 29, 2020. This means that Common Shares purchased on or following May 29, 2020 will not be entitled to receive rights under the Rights Offering. At that time, the rights are expected to be posted for trading on a "when issued" basis on the TSXV under the symbol “ERC.RT”. The Rights Offering will expire at 5:00 p.m. (Toronto time) on August 7, 2020 (the “Expiry Time”), after which time unexercised rights will be void and of no value. Shareholders who fully exercise their rights will be entitled to subscribe for additional Units, if not all of the Units have been subscribed for under the basic subscription privilege prior to the Expiry Time, subject to certain limitations set out in the Company’s rights offering circular (the “Circular”).

Details of the Rights Offering will be set out in the rights offering notice (the “Notice”) and the Circular, which will be available under the Company’s profile at www.sedar.com. The Notice and accompanying rights certificate will be mailed to each registered shareholder of the Company as at the record date that is resident in the Eligible Jurisdictions. Registered shareholders who wish to exercise their rights must forward the completed rights certificate, together with the applicable funds, to the rights agent, Computershare Investor Services Inc., on or before the Expiry Time. Shareholders resident in the Eligible Jurisdictions who own their Common Shares through an intermediary, such as a bank, trust company, securities dealer or broker, will receive materials and instructions from their intermediary. Rights certificates will not be issued and forwarded to registered holders of Common Shares who are not resident in the Eligible Jurisdictions. Beneficial shareholders of the Company not resident in an Eligible Jurisdiction may also be restricted from participating in the Rights Offering. Shareholders of the Company who reside outside of the Eligible Jurisdictions should review the Circular for information respecting their rights.

The Company understands that certain directors and officers of the Company who own Common Shares intend to exercise their rights to purchase Units under the Rights Offering.

The Company currently has 48,446,887 Common Shares outstanding. A maximum of 48,446,887 Units will be issued under the Rights Offering. If all the rights issued are validly exercised, the offering will raise gross proceeds of approximately $2,422,344.35, the net proceeds of which 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 the Company’s Bell Mountain Project and for general corporate purposes. See the Circular for additional information.

The completion of the Rights Offering is not subject to EROS receiving any minimum amount of subscriptions. The Company has not entered into any standby guarantee with any party in respect of the Rights Offering.

The Rights Offering is subject to regulatory approval, including the approval of the TSXV. The Company has obtained conditional approval from the TSXV.

About EROS

Eros Resources Corp. is a Canadian public company listed on the Toronto Venture Exchange. The Company’s business objective is the identification, acquisition and exploration of advanced-stage projects with a North American focus. In addition, the Company plans to make strategic investments with a global focus on a diverse commodity base. EROS managements’ expertise supports this strategy.

For further information, please contact:

EROS Resources Corp.

Ron Netolitzky

President and Chief Executive Officer

Phone: 604-688-8115

ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE US. SECURITIES ACT OF 1933 (THE “1933 ACT”) AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward Looking Statements

This release 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 release include, without limitation, statements with respect to: the closing of the Rights Offering, the gross proceeds of the Rights Offering and the use of proceeds from the Rights Offering. 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, uncertainties relating to the availability and cost of funds; closing the Rights Offering; delays in obtaining or failure to obtain required approvals to complete the Rights Offering; the uncertainty associated with estimating costs to complete the Rights Offering, including those yet to be incurred; potential risks and uncertainties relating to the ultimate geographic spread of the novel coronavirus (COVID-19), the severity of the disease, the duration of the COVID-19 outbreak, actions that may be taken by governmental authorities to contain the COVID-19 outbreak or to treat its impact and the potential negative impacts of COVID-19 on the global economy and financial markets; and other risks related to our business and the Rights Offering. 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.

Neither the 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.

EROS Resources Corp.

Suite 420 - 789 West Pender Street

Vancouver, British Columbia,

Canada, V6C 1H2

For more information, please contact:

Lubica Keighery

VP Corporate Development

c: 778-889-5476

lubica@erosresourcescorp.com

NEWS RELEASE PDF

April 15th, 2020

Bell Mountain Gold Project Achieves Environmental Milestone

Vancouver BC, April 15th, 2020 - Eros Resources Corp. ​(TSX-V: “ERC” “Eros” or the “Company”) is pleased to announce that the Bureau of Land Management (the “BLM”) has provided a Finding of No Significant Impact (“FONSI”) on the Environmental Assessment (“EA”) of Eros’ Bell Mountain Gold Project in Nevada.

The Finding of No Significant Impact in the Decision Record of the EA is a key step in advancing the Bell Mountain Gold Project toward production, and a significant milestone for Eros in general. This ruling ensures that our proposed mine operations at the Bell Mountain site can proceed without significant environmental hurdles and, when combined with the Record of Decision from the Department of the Navy confirming that the Bell Mountain property will not be encumbered by the Fallon Naval Air Station expansion, amounts to an extremely positive 1st quarter for Eros.

Mr. Ron Netolitzky, President and CEO of Eros, stated: “We are very pleased with the advances made in permitting and are excited about the proposed operations at our Bell Mountain Gold Project. I thank our technical team in Nevada, along with our consultants, for their work.”

The Bell Mountain Gold Project is located 86 kilometres (54 miles) southeast of Fallon in Churchill County, Nevada. Eros submitted its Bell Mountain Mine Plan of Operations (“MPO”) to the Carson City Field Office of the BLM on August 18, 2018 and has been aggressively pursuing permits for full mining development and operations.

The Environmental Assessment of the Eros’ MPO, undertaken by the BLM and its environmental specialists in accordance with the National Environmental Policy Act, concluded with a FONSI dated March 26th, 2020, meaning the voluntary design features and environmental protection measures as outlined by Eros in the MPO are considered to adequately mitigate and/or protect natural resources and habitat and prevent significant impacts to public land.

A copy of the Environmental Assessment and other related documents are available on-line at: https://go.usa.gov/xd2Ja. The applicable news release published by BLM, can be accessed at: https://www.blm.gov/press-release/blm-approves-bell-mountain-mine-project

About Bell Mountain

Eros’ 100% owned Bell Mountain Gold Project is located near Fallon, Nevada. Highlights of the Preliminary Economic Assessment that was completed in 2017 (See Eros’ press release of October 11, 2017) and which has not been updated for current gold and silver pricing, include:

  • Pre-tax net present value (“NPV” @ 5% and internal rate of return (“IRR”) of $17.6 million and 41.4% respectively, along with a payback period of 1.7 years, using a USD $1,300/oz price of gold and a USD $17.50/oz price of silver.

  • After tax NPV @ 5% and IRR of $9.3M and 24.7% respectively, with a payback period of 2.7 years.

  • 4 year mine life, with total production of 60,056 ounces of gold and 408,498 ounces of silver, before expansion based on renewed exploration.

  • Life of mine cash cost of $759 per produced ounce, net of by-product silver and including royalty payments totalling $2.56 million.

For further details, please refer to www.sedar.com

Eros has engaged McClelland Laboratories in Reno, NV to estimate capital and operating costs (±20%) for the Bell Mountain Gold Project. Subsequent data will be used to update the present economic model.

Eros operates in the USA through its 100% owned subsidiary Bell Mountain Mining Corp., a Nevada corporation based in Carson City Nevada.

Qualified Person

Mr. Jeffrey Wilson of Carson City, Nevada, is a consulting geologist to Eros. Mr. Wilson is a "Qualified Person" within the context of National Instrument 43-101, is responsible for the preparation of this news release and has read and approved its technical aspects.

About Eros

Eros Resources Corp. is a Canadian public company listed on the Toronto Venture Exchange. The Company’s business objective is the identification, acquisition and exploration of advanced-stage projects with a North American focus. In addition, the Company plans to make strategic investments with a global focus on a diverse commodity base. Eros managements’ expertise supports this strategy.

On Behalf of the Board of Directors of Eros Resources Corp.


Ronald K. Netolitzky

President & CEO


NEITHER THE 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.

This news release includes certain forward-looking statements or information that could cause actual results to differ materially from Eros’ plans or expectations. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding metallurgical results and outcomes, any updated technical report, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, cost overruns, that Eros may lose or abandon its property interests or may fail to receive necessary licences and permits, availability of capital and financing and general economic, market or business conditions.

The forward-looking statements included in this news release are made as of the date hereof and Eros disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.


EROS Resources Corp.

Suite 420 - 789 West Pender Street

Vancouver, British Columbia,

Canada, V6C 1H2

For more information, please contact:

Lubica Keighery

VP Corporate Development

c: 778-889-5476

T: 604-688-8115

March 24th, 2020

Southern Empire to Issue Shares to Eros Resources in Consideration of the Gold Assets

Vancouver BC, March 24th, 2020 - ​Eros Resources Corp. ​(TSX-V: “ERC” “Eros” or the “Company”) is pleased to provide an update on the status of the Qualifying Transaction of Owl Capital Corp., previously announced on April 24, 2019 and December 19th, 2019. Owl Capital Corp. has since changed its name to Southern Empire Resources Corp (“Southern Empire”; TSX-V: SMP).

Southern Empire Resources Corp. has closed its Capital Pool Company (“CPC”) Qualifying Transaction by acquiring a 75% interest in the Oro Cruz Gold Project located in California, an 85% interest in the Eastgate Gold Project located in Nevada, USA and a 4.93% undiluted equity interest in Bullfrog Gold Corp. (“Bullfrog”), an exploration stage company listed on the Canadian Securities Exchange and OTC Markets, collectively, the “Gold Assets”.

In consideration of the Gold Assets acquired Southern Empire will issue common shares to Eros as follows:

  • 2,901,275 shares with respect to the acquisition of a 45% interest in the Eastgate Gold Project

  • 8,545,000 shares with respect to the acquisition of an exclusive option to acquire a 37.5% interest in the Oro Cruz Gold Project;

  • 2,856,665 shares with respect to the acquisition of 8,750,000 shares and 7,750,000 share purchase warrants in the capital of Bullfrog.

All of these shares will be subject to the escrow requirements set forth in TSX Venture Exchange Policy 5.4 – Escrow, Vendor Consideration and Resale Restrictions whereby 10% of the escrowed shares will be released on the initial listing date and 15% of the escrowed shares will be released each six month period thereafter.

Eros has further agreed to sell a total of 5,000,000 escrowed common shares of Southern Empire to unrelated individuals for cash consideration. The proceeds from this sale will be used to make tax advantaged investments in either flow-through shares or direct property interests in Canadian gold exploration properties. These purchases will be subject to TSX Venture Exchange Policy 5.4 – Escrow, Vendor Consideration and Resale Restrictions.

Eros Investment in Southern Empire

Eros, subsequent to the escrow share sale discussed above, holds 9,302,940 common shares, which represents an approximate 22% equity interest. These shares are held for investment purposes. The Company may increase or decrease its position as circumstances require. This fits the Company’s objectives of increasing the Company focus in Canadian Resource opportunities.

On Behalf of the Board of Directors of EROS Resources Corp.

Ronald K. Netolitzky

President & CEO

Cautionary Notice on Forward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Southern Empire cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Southern empire’s control.

Such factors include, among other things: risks and uncertainties relating to Southern Empire’s limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Southern Empire undertakes no obligation to publicly update or revise forward-looking information.

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.

EROS Resources Corp.

Suite 420 - 789 West Pender Street

Vancouver, British Columbia,

Canada, V6C 1H2

For more information, please contact:

Lubica Keighery

VP Corporate Development

c: 778-889-5476

T: 604-688-8115

February 13, 2020

Investment Portfolio of Eros Resources Corp. Increases in Value with Rising Gold Price


Vancouver BC, February 13, 2020 - ​Eros Resources Corp. ​(TSX-V: “ERC” “Eros” or the “Company”) is pleased to provide a general corporate update on its activities, aside from the activities at the Bell Mountain Gold-Silver Project discussed in a news release of February 6, 2020. Eros has been active on multiple fronts, as it expands its interests in both mineral properties and investments in junior resource companies.

Investment Portfolio

Eros continues to be active with its investment portfolio which, because of its strong focus on gold exploration companies, has benefited significantly by the recent rise in the gold price. Since the end of the third quarter of 2019, Eros’ portfolio value has enjoyed an increase of approximately $3,000,000, while at the same time exiting portions of certain investments to fund the ongoing operations at Bell Mountain. The Eros portfolio currently holds interests in 23 junior resource issuers.

Key investments held within the portfolio include:

  1. MAS Gold Corp. (“MAS”). MAS Gold Corp is a junior gold exploration company with a focus on developing its advanced properties in the La Ronge Gold Belt region of Saskatchewan. Eros has participated in a number of private placements of MAS, and intends to maintain its ownership position in MAS going forward.

  2. Owl Capital Corp. (“Owl”). Eros has signed an agreement to sell its interests in the Oro Cruz and Eastgate properties in California and Nevada, as well as Eros’ holdings share and warrant holdings of Bullfrog Gold Corp. to Owl in exchange for a 35.9% interest in Owl. The transaction has not yet been completed. Please refer to Eros’ news release of April 25, 2019 for further details.

  3. Skeena Resources Limited. (“Skeena”). Skeena is a late stage gold exploration company with a focus in the Golden Triangle region of British Columbia. With strong exploration results, along with recent financings and asset sales, Eros believes that Skeena is well positioned for continued success.

  4. Eagle Plains Resources Ltd. (“EPL”). Eagle Plains is a prospect generator within the junior resource industry, which has been very active in the La Ronge Gold Belt region of Saskatchewan. With its business model of staking ground, completing early exploration work, and then spinning properties out, it remains well positioned with its own investment portfolio and maintains a strong cash position.

Currently, the overall value of the investment portfolio is in excess of $7,500,000.

Interest in Bell Mountain Gold Deposit, Nevada

Since receiving notice that the Bell Mountain mining claims were no longer subject to a moratorium from the Department of the Navy (the “Navy”) in the fourth quarter of 2018, Eros began aggressively pursuing mine permitting on Bell Mountain Gold-Silver Project (see News Release February 6, 2020).

The Preliminary Environmental Assessment of Bell Mountain entered its 30 day public comment period on January 31, 2020. Eros anticipates receiving a “Finding of No Significant Impact” (FONSI) for the Bell Mountain Gold-Silver Project in 2020 with approval of the Environmental Assessment. Eros also expects to have various mine operating permits well advanced in 2020.

For more information, please refer to the news release issued on February 6th, 2020.

Interest in SnipGold Corp. Property

Eros retains a 5% interest in the Hemlo West claim block, on the Iskut River property in British Columbia held by Seabridge Gold Inc (through its ownership of SnipGold Corp.), who holds the other 95% interest. The interest was acquired from Golden Band. The Company intends to advance its interests in the property, along with Seabridge Gold Inc.

Hatchet Lake Uranium Property

Eros continues to hold a 29.85% interest in the Hatchet Lake Joint Venture (the “JV”). Denison Mines holds the remaining interest and is the operator of the JV. Located 17 kilometres north of the McClean Lake uranium mill, in the shallow eastern portion of the Athabasca basin of Saskatchewan, the property has boasted significant mineralization in historic drill holes. Eros has received notice of Denison’s proposed work program and has responded that it intends to maintain its interest.

About Eros

Eros Resources Corp. is a Canadian public company. Eros’ business objective is the identification, acquisition and exploration of advanced projects with a North American focus.

Another focus of the Company is to make strategic investments with a global focus and a diverse commodity base. The Company’s expertise in the resource sector supports the selection of these strategic investments.

On Behalf of the Board of Directors of EROS Resources Corp.


Ronald K. Netolitzky

President & CEO

NEITHER THE 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.


This news release includes certain forward-looking statements or information that could cause actual results to differ materially from Eros’ plans or expectations. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding metallurgical

results and outcomes, any updated technical report, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, cost overruns, that Eros may lose or abandon its property interests or may fail to receive necessary licences and permits, availability of capital and financing and general economic, market or business conditions.

The forward-looking statements included in this news release are made as of the date hereof and Eros disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.


EROS Resources Corp.

Suite 420 - 789 West Pender Street

Vancouver, British Columbia,

Canada, V6C 1H2

For more information, please contact:

Lubica Keighery

VP Corporate Development

c: 778-889-5476

T: 604-688-8115

February 6, 2020

Eros Resources Corp.. Provides an Update on its Bell Mountain Gold-Silver Project

Vancouver BC, February 6, 2020 - ​Eros Resources Corp. ​(TSX-V: “ERC” “Eros” or the “Company”) is pleased to report its progress on the Bell Mountain Gold-Silver Property “Bell Mountain”, near Fallon, Nevada. In the fourth quarter of 2018, Eros received notice that the Bell Mountain mining claims were no longer subject to a moratorium from the Department of the Navy (the “Navy”); the Company has been aggressively pursuing the permitting of Bell.

PRELIMINARY ENVIRONMENTAL ASSESSMENT COMPLETED

Eros reports that the Preliminary Environmental Assessment of Bell Mountain has now been completed and entered its 30 day public comment period on January 31, 2020. Once the public comment period is complete (March 2, 2020), the Bureau of Land Management (BLM), Eros and key consultants Stantec Consulting Services and Welsh Hagen Associates will address any and all comments on the Environmental Assessment..

Eros anticipates receiving a “Finding of No Significant Impact” (FONSI) for the Bell Mountain Gold-Silver Project in 2020 with approval of the Environmental Assessment. Eros also expects to have various mine operating permits well advanced in 2020.

Mr. Ron Netolitzky, President & CEO of Eros, states “We are very pleased with the progress we are making in the permitting process. Given the delays that the Company faced when the Navy proposed to expropriate the property, the speed with which we have advanced through the permitting process has been key to ensuring the success of Bell Mountain. Eros wishes to thank our technical team in Nevada, along with our consultants, for their tireless efforts in this process.”

Mr. Netolitzky further states, “As a company, Eros is excited about Bell Mountain. It boasts robust economics. The Company firmly believes that the scale of Bell Mountain can be significantly increased with additional exploration work on the property in the near term. Such work was purposely ceased during the time that the status of the property was in question, based on the the plans of the Navy. With that issue in the past, and once permitting is substantially complete, exploration at Bell Mountain will commence again with a view to increasing scale”.

About Bell Mountain

The 100% owned Bell Mountain Gold-Silver project is located near Fallon, Nevada. A preliminary economic assessment was completed on the property in 2017 (the press release of October 11, 2017). The highlights of the PEA, which has not been updated for current gold and silver pricing, include:

  • Pre-tax net present value (“NPV” @ 5% and internal rate of return (“IRR”) of $17.6 million and 41.4% respectively, along with a payback period of 1.7 years, using a USD $1,300/oz price of gold and a USD $17.50/oz price of silver.

  • After tax NPV @ 5% and IRR of $9.3M and 24.7% respectively, with a payback period of 2.7 years.

  • 4 year mine life, with total production of 60,056 ounces of gold and 408,498 ounces of silver, before expansion based on renewed exploration.

  • Life of mine cash cost of $759 per produced ounce, net of by-product silver and including royalty payments totalling $2.56 million.

For further details, please refer to www.sedar.com

Eros will report further on the progress of the permitting process for Bell, once the comment period has been completed.

Qualified Person

Mr. Jeffrey Wilson is a consulting geologist to the Company based in Carson City, Nevada. Mr. Wilson as a "qualified person" within the context of National Instrument 43-101, is responsible for the preparation of this news release and has read and approved its technical aspects.

About Eros

Eros Resources Corp. is a Canadian public company. Eros’ business objective is the identification, acquisition and exploration of advanced projects with a North American focus.

Another focus of the Company is to make strategic investments with a global focus and a diverse commodity base. The Company’s expertise in the resource sector supports the selection of these strategic investments.

On Behalf of the Board of Directors of Eros Resources Corp.

Ronald K. Netolitzky

President & CEO


NEITHER THE 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.


This news release includes certain forward-looking statements or information that could cause actual results to differ materially from Eros’ plans or expectations. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding metallurgical

results and outcomes, any updated technical report, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, cost overruns, that Eros may lose or abandon its property interests or may fail to receive necessary licences and permits, availability of capital and financing and general economic, market or business conditions.

The forward-looking statements included in this news release are made as of the date hereof and Eros disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.



NEITHER THE 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.

This news release includes certain forward-looking statements or information that could cause actual results to differ materially from Eros’ plans or expectations. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding metallurgical

results and outcomes, any updated technical report, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, cost overruns, that Eros may lose or abandon its property interests or may fail to receive necessary licences and permits, availability of capital and financing and general economic, market or business conditions.

The forward-looking statements included in this news release are made as of the date hereof and Eros disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

EROS Resources Corp.

Suite 420 - 789 West Pender Street

Vancouver, British Columbia,

Canada, V6C 1H2

For more information, please contact:

Lubica Keighery

VP Corporate Development

c: 778-889-5476

T: 604-688-8115

January 22, 2020

Eros Resources Corp.. Announces Results of the Annual General Meeting

Vancouver BC, January 22, 2020 - ​Eros Resources Corp. ​(“Eros” – TSX-V:ERC​) announces that shareholders, at the annual general meeting held on January 21, 2020, showed strong support for all the matters brought forward at the meeting, with all resolutions passing by a margin of at least 99% of the votes cast, representing 25.31% of the issued and outstanding shares of Eros.

Shareholders also re-elected incumbent directors Ron Netolitzky, Tom MacNeill, and Ross McElroy. Eros further reports that Smythe LLP were approved as auditors of the Company, and the Company’s stock option plan was also approved.

About Eros

Eros Resources Corp. is a Canadian public company focused on the exploration and development of resource projects in North America. Eros has as its prime business objective the selection of strategic investments with a Canadian focus and a diverse commodity base. The Company’s expertise in the resource sector supports the selection of these strategic investments.

On Behalf of the Board of Directors of EROS Resources Corp.


Ronald K. Netolitzky

President & CEO


NEITHER THE 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.

This news release includes certain forward-looking statements or information that could cause actual results to differ materially from Eros’ plans or expectations. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding metallurgical

results and outcomes, any updated technical report, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, cost overruns, that Eros may lose or abandon its property interests or may fail to receive necessary licences and permits, availability of capital and financing and general economic, market or business conditions.

The forward-looking statements included in this news release are made as of the date hereof and Eros disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

EROS Resources Corp.

Suite 420 - 789 West Pender Street

Vancouver, British Columbia,

Canada, V6C 1H2

For more information, please contact:

Lubica Keighery

VP Corporate Development

c: 778-889-5476

T: 604-688-8115

2019 News Releases

December 19, 2019

Eros Resources Corp. Announces that Owl Capital Corp. Receives TSX-V Conditional Approval for Qualifying Transaction

December 19, 2019 – Vancouver, British Columbia. Eros Resources (TSX.V: ERC) (“Eros” or the “Company”) is pleased to announce that Owl Capital Corp. (“Owl” TSX-V: OCC.P) has received conditional approval of its qualifying transaction to acquire an option to earn a 75% in the Oro Cruz Gold Project, located in California, USA, and an 85% interest in the Eastgate Gold Project, located in Nevada, USA, (the “Qualifying Transaction”) pursuant to the policies of the TSX Venture Exchange (the “Exchange”). Readers are referred to the filing statement of Owl dated December 10, 2019 which was prepared in accordance with the requirements of the Exchange and filed under Owl's issuer profile on SEDAR at www.sedar.com.

Owl has also filed an independent technical report (the "Technical Report") regarding the Oro Cruz Gold Project, prepared by Frank Hrdy, P.Geo., in accordance with the requirements of National Instrument 43-101 on SEDAR at www.sedar.com.

Eros had signed a term sheet dated April 10, 2019 (the “Agreement”) with Owl Capital Corp. (“Owl” TSX-V: OCC.P) regarding the sale of the Company’s interests in the Oro Cruz and Eastgate projects as well as Eros’ shareholding and warrant position in Bullfrog Gold Corp.

On closing of the Transaction, Eros will own 14,302,940 shares of Owl, representing 35.9% of the

approximately 39,800,000 total issued and outstanding shares of Owl.

For more information regarding the transaction, please refer to Eros’ news release from April 25th, 2019.

About Owl Capital Corp.

Owl is a Capital Pool Company within the meaning of the policies of the Exchange, has not commenced operations and has no assets other than cash.

About Eros

Eros Resources Corp. is a Canadian public company focused on the exploration and development of resource projects in North America. Eros has as its prime business objective the selection of strategic investments with a Canadian focus and a diverse commodity base. The Company’s expertise in the resource sector supports the selection of these strategic investments.

On Behalf of the Board of Directors of EROS Resources Corp.


Ronald K. Netolitzky

President & CEO

NEITHER THE 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.

Information set forth in this news release may contain forward-looking statements. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Eros and Owl cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Eros’ and Owl’s control. Such factors include, among other things: risks and uncertainties relating to Eros’ and Owl’s ability to complete the proposed Qualifying Transaction; and other risks and uncertainties. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Eros and Owl undertakes no obligation to publicly update or revise forward-looking information.

Completion of the transaction is subject to conditions, including but not limited to, Exchange acceptance and, if applicable, pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

A halt in trading shall remain in place until after the Qualifying Transaction is completed or such time that acceptable documentation is filed with the TSX Venture Exchange.

EROS Resources Corp.

Suite 420 - 789 West Pender Street

Vancouver, British Columbia,

Canada, V6C 1H2

T: 604-688-8115

w: www.erosresourcescorp.com

For more information, please contact: Lubica Keighery, VP Corporate Development, c: 778-889-5476

April 25, 2019

Eros Resources Corp. Takes Equity Position in Owl Capital Corp. in Exchange for Assets

Vancouver, BC (April 25, 2019) Eros Resources Corp. (TSX.V: ERC) (“Eros” or the “Company”) is pleased to announce that it has signed a term sheet dated April 10, 2019 (the “Agreement”) with Owl Capital Corp. (“Owl” TSX-V: OCC.P) regarding the sale of the Company’s interests in the Oro Cruz and Eastgate projects as well as Eros’ shareholding and warrant position in Bullfrog Gold Corp...(Read More)

January 29, 2019

Eros Resources Corp. Hires New Chief Financial Officer

Vancouver, BC (January 29, 2019) Eros Resources Corp. (TSX.V: ERC) (“Eros” or the “Company”) announces the appointment of Mr. Andrew Davidson as the Chief Financial Officer and Corporate Secretary. The appointment has come into effect on January 25, 2019...(Read More)

2018 News Releases

November 21, 2018

Eros Provides Update on Bell Mountain Gold-Silver Deposit and Director Resignation

Vancouver, BC (November 21, 2018) Eros Resources Corp. (TSX.V: ERC) (“Eros” or the “Company”) and our 100% owned subsidiary Bell Mountain Exploration Corp. are pleased to update our shareholders with regard to our Bell Mountain gold-silver project in Churchill County, Nevada...(Read More)

January 16, 2018

Eros Provides Corporate Update and Management Change

Vancouver, BC (January 16, 2018) Eros Resources Corp. (TSX.V: ERC) (“Eros” or the “Company”) wish to provide an update regarding the Company’s focus and priorities.

The Board of Directors has recently renewed the Company’s resolve to focus on Canadian resource investments, with priority given to advanced Canadian projects focused both in oil & gas and minerals. The company currently holds over $3.4 million in cash, an equity portfolio valued over $6.1 million, and has modest cash-flow from its share in three heavy-oil wells in the Flaxcombe oil fields in Saskatchewan. ...(Read More)

2017 News Releases

November 29, 2017

Eros Announces Third Quarter Financial Results and Production Update

Vancouver, BC (November 29, 2017) Eros Resources Corp. (TSX.V: ERC) (“Eros” or the “Company”) is pleased to report its financial and operating results for the third quarter of 2017. The full third quarter Financial Statements and Management Discussion and Analysis are available at www.sedar.com and at the Company’s website at www.erosresourcescorp.com. ...(Read More)

October 25, 2017

Eros Provides Flaxcombe Production Update

Vancouver, BC (October 25, 2017) Eros Resources Corp. (TSX.V: ERC) (“Eros” or the “Company”) together with its project partner and operator, Westcore Energy Ltd. (“Westcore” or “WTR”) wish to provide an update concerning the commissioning of the three oil wells completed and brought on production in the third quarter at the Flaxcombe heavy oil field located 30 kilometres west of Kindersley, Saskatchewan...(Read More)

October 11, 2017

Eros Announces Results of Preliminary Economic Assessment for the Bell Mountain Gold Project

Vancouver, BC (October 11, 2017) Eros Resources Corp. (TSX.V: ERC) (“Eros” or the “Company”) hereby provides the results of a Preliminary Economic Assessment (“PEA”) on its 100% owned Bell Mountain gold project (the “Bell Mountain Property” or the “Project”) in Churchill County, Nevada.

The PEA provides a base case assessment of the current status of the Project notwithstanding the Bureau of Land Management (“BLM”) September 1, 2016 notice that the US Navy had applied to expand the Fallon Range Training Facility and withdraw 604,789 acres of public land, an area that includes the entire Bell Mountain Property...(Read More)

October 5, 2017

Eros Announces Joint Operating Agreement in Saskatchewan

Vancouver, BC (October 5, 2017) Eros Resources Corp. (TSX.V: ERC) (“Eros” or the Company”) is pleased to announce that it has entered into a Joint Operating Agreement (the “Agreement”) with Westcore Energy Ltd. (“Westcore” or “WTR”) and Saturn Oil + Gas Inc. (“Saturn” or “SMI”) to develop three sections of land near Flaxcombe, Saskatchewan. Under the terms of the Agreement, each of Eros, Westcore and Saturn shall have a one-third (33.33%) working interest in the sections.

This provides Eros with a direct interest in the future exploration results, reserve assessment and possible development within the Flaxcombe, heavy oil field. The three parties are currently preparing a budget and schedule to develop this ground...(Read More)

September 20, 2017

Eros Initiates Oil Production from the Flaxcombe Project

Vancouver, BC (September 20, 2017) Eros Resources Corp. (TSX.V: ERC) (“Eros” or theCompany”) together with its project partner and operator, Westcore Energy Ltd. (“Westcore” or “WTR”) are pleased to announce initial production results from the first of three wells drilled on the Flaxcombe heavy oil field located 30 kilometres west of Kindersley, Saskatchewan. WTR advised that the first wellbore 9-13 has been on production for over 30 days, showing an average production rate of 80 barrels per day (72 barrels to Eros). ...(Read More)

September 1, 2017

Eros Announces AGM Results and Grant of Options

Vancouver, BC (September 1, 2017) Eros Resources Corp. (TSX.V: ERC) (“Eros” or theCompany”) is pleased to announce the results of its Annual General Meeting, held on August 25, 2017. All of the resolutions presented to the shareholders were approved with over 99% of votes cast being in favour of each resolution (see the SEDAR filing of the Company’s Information Circular, dated August 4, 2017). ...(Read More)

June 21, 2017

Eros Closes Private Placement and Provides Update on Flaxcombe Drilling

Vancouver, BC (June 20, 2017) Eros Resources Corp. (TSX.V: ERC) (“Eros” or the “ Company”) is pleased to announce that it has completed its previously announced non-brokered private placement (the “ Private Placement”) for aggregate gross proceeds of $1,037,880. At the closing yesterday, a total of 6,486,750 units were issued, each at a subscription price of $0.16 per unit, with each unit consisting of one common share of the Company and one-half common share purchase warrant...(Read More)

May 31, 2017

Eros Announces First Quarter Results and Extends and Reprices Private Placement Financing

Vancouver, BC (May 31, 2017) Eros Resources Corp. (TSX.V: ERC) (“Eros” or the Company”) is pleased to announce its first quarter, 2017 results. Comprehensive income for the period totaled $1.2 million or $0.02 per share primarily due to a realized gain on the sale of marketable securities of $853,559 and an unrealized gain on the value of its available for sale, marketable securities of $885,359...(Read More)

April 12, 2017

Eros Announces Private Placement Financing

Vancouver, BC (April 12, 2017) Eros Resources Corp. (TSX.V: ERC) (“Eros” or the Company”) proposes to raise up to $1.5 million through a non-brokered private placement financing via the issuance of 8.3 million units at a price of CDN $0.18 per unit, subject to TSX Venture Exchange approval. Each unit will consist of one common share and one half of one share purchase warrant, with each full warrant entitling the holder to acquire one additional common share at an exercise price of $0.25 for a period of 2 years from the closing date and $0.30 for an additional year, up to 3 years from the closing date. ...(Read More)

February 10, 2017

Eros Exercises Westcore Warrants

Vancouver, BC (February 10, 2017) Eros Resources Corp. (TSX.V: ERC) (“Eros” or the Company”) advises that on February 8, 2017, it exercised two million warrants in Westcore Energy Ltd. (TSX.V: WTR) (“Westcore”) at an exercise price of $0.15. By virtue of owning greater than 10% of Westcore common shares on a fully diluted basis, Eros is considered an insider of Westcore...(Read More)

February 6, 2017

Eros Agrees to Acquire an Interest in the Flaxcombe Heavy Oil Field, Saskatchewan

Vancouver, BC (February 6, 2017) Eros Resources Corp. (TSX.V: ERC) (“Eros” or the “Company”) is pleased to announce it has entered into an agreement to acquire a working interest in three vertical wells to be drilled on the Flaxcombe heavy oil field, wholly owned by Westcore Energy Ltd. (TSX.V: WTR)...(Read More)

January 27, 2017

Eros Announces AGM Results and Acquisition of Shares

Vancouver, BC (January 27, 2017) Eros Resources Corp. (TSX.V: ERC) (“Eros” or the Company”) is pleased to announce the results of its Annual General Meeting, held on January 27, 2017. All of the resolutions presented to the shareholders were approved with over 98% of votes cast being in favour of each resolution (see the SEDAR filing of the Company’s Information Circular, dated August 29, 2016). ...(Read More)

FOR MORE HISTORIC NEWS RELEASES, PLEASE REFER TO COMPANY'S DOCUMENTS ON SEDAR