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Pasofino Gold Limited Announces Appointment of New Director and Resignation of Chief Financial Officer

Newsfile Corp.

Toronto, Ontario--(Newsfile Corp. - February 28, 2020) - Pasofino Gold Limited (TSXV: VEIN) (FSE: N071) ("Pasofino" or the "Company") is pleased to announce that Darryl Levitt has been appointed as a director of the Company, effective as of February 28, 2020. Mr. Levitt's appointment is subject to the approval of the TSX Venture Exchange. The Company also announces that Fiona Fitzmaurice has resigned as the Chief Financial Officer of the Company, and the Company is presently searching for a new Chief Financial Officer. Pasofino would like to thank Ms. Fitzmaurice for her service to the Company.

About Pasofino Gold Limited

Pasofino Gold Limited is a Canadian-based mineral exploration company. For further information, please visit www.pasofinogold.com or contact:

Stephen Dunn, President & CEO
T: (416) 361-2827
E: dunnsteve@protonmail.com

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 news release.

This news release contains "forward-looking statements" that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the Company's plans with respect to completion of a name change, the ability to raise the funds to finance its ongoing business activities including the acquisition of mineral projects and the exploration and development of its projects. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors may include, but are not limited to, the results of exploration activities; the ability of the Company to complete further exploration activities; the ability of the Company to complete transactions on terms announced; timing and availability of external financing on acceptable terms and those risk factors outlined in the Company's Management Discussion and Analysis as filed on SEDAR. Pasofino Gold does not undertake to update any forward-looking information except in accordance with applicable securities laws.

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