NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.LONGUEUIL, Quebec, July 21, 2020 (GLOBE NEWSWIRE) — Reunion Gold Corporation (TSX-V: RGD) (“Reunion” or the “Company”) is pleased to announce that it intends to complete a non-brokered private placement of 50,000,000 units (the “Units”) at $0.08 per Unit, to raise up to $4 million (the “Offering”). Each Unit will consist of one common share of the Company and one half of one common share purchase warrant (each whole warrant, a “Warrant”), with each Warrant exercisable to acquire one common share at $0.12 for a period of 24 months from the closing date of the Offering.Dundee Corporation, a 12.2% shareholder of the Company, has indicated its intention to participate in the Offering and to acquire 18,750,000 Units for proceeds of $1.5 million.Certain insiders of the Company are acquiring Shares in the Offering. Any participation by insiders in the Private Placement constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). However, the Company expects such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 based on the fact that neither the fair market value of the Shares subscribed for by the insiders, nor the consideration for the Shares paid by such insiders, would exceed 25% of the Company’s market capitalization.The Company expects to close the Offering on or about August 5, 2020, subject to certain conditions including, but not limited to, the receipt of all necessary corporate and regulatory approvals, including the approval of the TSXV. In connection with the Offering, the Company may pay finder’s fees to qualified finders in accordance with the policies of the TSXV. The Company intends to use the proceeds of the Offering for exploration work on its gold projects in the Guyana Shield and for general working capital.The Offering will be conducted in reliance upon certain prospectus and private placement exemptions. The securities issuable under the private placement will be subject to a hold period expiring four months and one day after the closing date. The Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful.The Company will file a material change report in connection with the Offering less than 21 days before the expected closing date of the Offering, which the Company deemed reasonable in the circumstances to be able to avail itself of potential financing opportunities and complete the Offering in an expeditious manner.Cautionary StatementThis news release contains certain “forward-looking information” under Canadian securities laws. Specifically, this news release contains forward looking information about the Company’s plans to complete the Offering on the terms announced or at all, and on the use of the proceeds of the Offering. Forward looking information is based upon assumptions by management that are subject to known and unknown risks and uncertainties beyond the Company’s control, including risks related to capital markets and the availability of financing for companies such as the Company. There can be no assurance that outcomes anticipated in the forward-looking information will occur, and actual results may differ materially for a variety of reasons. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking information, except as may be required by law.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 press release.About Reunion GoldReunion Gold Corporation is a leading gold explorer with a portfolio of projects in the Guiana Shield, South America. The Company’s shares are listed on the TSX Venture Exchange under the symbol ‘RGD’. Additional information about the Company is available on SEDAR (www.sedar.com) and on the Company’s website (www.reuniongold.com). For further information please contact:REUNION GOLD CORPORATION             
Réjean Gourde, President & CEO
Paul Fowler, Manager, Corporate Development
Telephone: +1 450.677.2585
Email: [email protected]

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