Black Tusk Resources Inc. Closes Final Tranche of Flow Through Private Placement

VANCOUVER, December 31, 2019 - Black Tusk Resources Inc. (the "Company") (CSE:TUSK)(Frankfurt:0NB)(OTC PINK:BTKRF) is pleased to announce that it has closed its second and final tranche of its flow-through private placement issuing an additional 845,000 Units (as defined below) at a price of $0.055 per Unit for total proceeds of $46,475. Including the previous tranche (see press release dated December 20, 2019), the total number of Units sold under this offering was 4,145,000 for total proceeds of $227,975.

Each Unit consists of one flow-through common share (a "Share") and one half of one share purchase warrant (each whole warrant a "Warrant"). Each Warrant will entitle the holder to purchase an additional share at a price of $0.10 per share for a two-year term (the "Warrant Term").

The Company paid finders fees to EMD Financial Inc. consisting of $2,997.50 cash, 32,700 common shares and 10,900 Warrants.

On behalf of the Board of Directors

Richard Penn,
CEO

CONTACT:

Roman Rubin
(CSE:TUSK)
Chief Financial Officer
500-666 Burrard st.
Vancouver, BC, V6C 3P6
Office: 604-373-TUSK (8875)
Toll free: 1-833-273-TUSK (8875)

SOURCE: Black Tusk Resources Inc.