Pucara Gold to List on the Lima Stock Exchange

VANCOUVER, Oct. 22, 2020 - Pucara Gold Ltd. ("Pucara Gold", "Pucara" or the "Company") (TSXV: TORO) is pleased to announce the listing of Pucara Gold Common Shares ("Common Shares") on the Lima Stock Exchange ("Bolsa de Valores de Lima" or "BVL"). The Common Shares are expected to begin trading under the symbol TORO on the BVL during the month of November. No additional Common Shares will be issued in conjunction with the listing.

"Having been involved in Peru for nearly three decades, I wanted to be certain that prospective Peruvian shareholders would benefit should Pucara deliver a discovery on our Lourdes or Pacaska targets," stated Mr. Zuker, CEO of Pucara. Mr. Zuker continued "Peruvians are extremely knowledgeable mining investors and benefit from a highly favorable capital gains tax treatment for BVL listed entities."

About Lourdes Gold Project
The wholly-owned Lourdes Gold Project is a fully-permitted high sulfidation epithermal precious metal project, which lies at the intersection of two regional mineralized trends with neighboring high sulfidation prospects and a producing mine. Lourdes covers a highly prospective contiguous area of 2,576 hectares that had received minimal prior exploration and has not been previously drill tested. Pucara has identified a complex of nested diatremes, vent breccias, and breccia bodies at Lourdes that are similar in size and associated alteration to some of the high sulfidation epithermal gold deposits at Yanacocha and Pierina in northern Peru, and the Mulatos district of Mexico. The property is approximately 400 kilometres southeast of Lima and is easily accessible by a paved, single-lane road originating in the town of Puquio, 155 kilometres east of the Pan American Highway.

About Pucara Gold
Pucara Gold is a well-financed junior exploration company focused on the discovery and advancement of economic precious metals deposits in resource-rich Peru. Pucara has a portfolio approach to project acquisition and controls nine precious and base metal projects, including its flagship Lourdes Gold Project, located in Ayacucho, Peru. Pucara is advancing six projects while the remaining three are under option agreements with strategic partners. Pucara plans to grow through discoveries, strategic relationships, and grassroots exploration.

Cautionary Statements

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 forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, the impact of the COVID-19 pandemic on the worldwide economy, continued availability of capital and financing, and general economic, market or business conditions and regulatory and administrative approvals, processes and filing requirements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.

SOURCE Pucara Gold Ltd.