Etruscus Closes Oversubscribed Private Placement Financing

VANCOUVER, June 3, 2020 - Etruscus Resources Corp. (CSE: ETR) (FSE: ERR) (the "Company" or "Etruscus") announces that, further to its news release on May 27, 2020, the Company has closed its oversubscribed non-brokered private placement for total gross proceeds of $306,250, consisting of 1.225 million units. The proceeds will be used for both exploration and general working capital.

Each unit was issued at a price of $0.25 and consists of one common share and one share purchase warrant exercisable at a price of $0.40 per share, entitling the holder to purchase one additional common share for a 2-year period.

The Company paid a total of $525 in finder's fees at a rate of 7% of the portion of the funds raised by Leede Jones Gable Inc.

The securities issued and issuable pursuant to the foregoing are subject to resale restrictions expiring 4 months and a day from the date of issuance.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Etruscus

Etruscus Resources Corp. is a Vancouver-based exploration company focused on the development of its 100%-owned Rock & Roll and Sugar properties comprising 27,136 hectares, situated 7 km from the past producing Snip mine in Northwest B.C.'s prolific Golden Triangle.

Etruscus is traded under the symbol "ETR" on the Canadian Securities Exchange and "ERR" on the Frankfurt Stock Exchange and currently has 22,453,501 shares issued and outstanding.

On behalf of the Board of Directors:

/s/ "Gordon Lam"
Chief Executive Officer, President and Director

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This Press Release may contain statements which constitute 'forward-looking' statements, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings required by the Canadian securities regulatory authorities, including quarterly and annual Management's Discussion and Analysis, which may be viewed at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as intended, planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Etruscus Resources Corp.