Generic Gold Corp. Announces Termination of Proposed Reverse Takeover

Toronto, February 19, 2020 - Generic Gold Corp. (CSE: GGC) (FSE: 1WD) (the "Company") announces that, further to its press release of March 25, 2019, it has agreed with OG DNA Genetics Inc. ("OG DNA") to terminate the previously announced reverse takeover transaction with OG DNA. In connection with the termination of the transaction, OG DNA will pay to the Company a termination fee of $100,000.

The Company will issue a further news release in respect of the reinstatement of trading of its common shares on the Canadian Securities Exchange. Due to what management believes to be a resurgence in the mining sector, management has decided to focus on the Company's portfolio of mining properties in the Yukon Territory to enhance shareholder value.


About Generic Gold

Generic Gold is a Canadian mineral exploration company focused on gold projects in the Tintina Gold Belt in the Yukon Territory of Canada. The Company's exploration portfolio consists of nine projects with a total land position of 37,877 hectares, all of which are 100% owned by Generic Gold. For information on the Company's property portfolio, visit the Company's website at genericgold.ca.



For further information please contact:

Generic Gold Corp.
Kelly Malcolm, President, CEO, and Director
Telephone: +1 (647) 299-1153
kmalcolm@genericgold.ca



Neither the Canadian Securities Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this news release.

Forward-Looking Information and Statements

Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com