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Fidelity Minerals Announces Closing of Private Placement Financing





Vancouver, BC - TheNewswire - August 10th, 2020 - Fidelity Minerals Corp. (TSXV:FMN) | (FSE:S5GM) | (SSE:MNYC) ("Fidelity Minerals" or the "Company") is pleased to announce that it has closed the non-brokered private placement (the "Private Placement") previously announced in its News Release dated July 27, 2020, as increased in its News Release dated August 4, 2020.

For the Private Placement, the Company issued a total of 7,668,121 units (each, a "Unit") at $0.06 per Unit for gross proceeds of $ $460,087. Of the total Units issued, 5,015,583 Units were subscribed by Lions Bay Capital Inc., a Control Person, and 1,286,538 Units were subscribed by management. Each Unit consists of one common share (each, a "Share") and one transferable share purchase warrant (each, a "Warrant") with each Warrant exercisable into an additional common share at $0.07 per share until August 10, 2022. The securities issued pursuant to the Private Placement are subject to a four month hold period that expires on December 11, 2020. Finders' fees totalling $2,938 were paid relating to the Private Placement. The Company intends to use the net proceeds of the Private Placement for corporate working capital purposes.

The Private Placement is subject to final approval of the TSX Venture Exchange.

About Fidelity Minerals Corp.

Fidelity Minerals Corp. is assembling a portfolio of high-quality mining assets in Peru through the implementation of our Strategic Project Generator (SPG) model. The project generator model involves the identification and acquisition of appraisal stage opportunities with near-term valuation catalysts, including potential for high-impact M&A. The company is backed by an experienced management team with diverse technical, market, and commercial expertise and is supported by committed and sophisticated investors focused on building long term value.

On behalf of the Board of Fidelity Minerals;

Ian Graham
CEO and Director
Tel: +1.604.671.1353
Email:
igraham@fidelityminerals.com

Investor Contact:

Bahay Ozcakmak
Executive Chairman
Tel: +61.414.596.007
Email:
bahay@fidelityminerals.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.