Notice of Default Update

VANCOUVER, British Columbia, Jan. 15, 2021 (GLOBE NEWSWIRE) -- MOJAVE GOLD CORP. (CSE: MOJ) did not file its annual financial statements and management's discussion & analysis for the fiscal year ended August 31, 2020, by the filing deadline of December 29, 2020, and as a result is in default of its obligations under Part 4 of National Instrument 51-102 Continuous Disclosure Obligations.

The Company has requested from the applicable Canadian securities regulators that a management cease trade order related to the Company's securities be imposed against some or all of the persons who have been directors, officers or insiders of the Company. A Management Cease Trade Order was issued on December 30, 2020. This order does not generally affect the ability of persons who have not been directors, officers or insiders of the Company to trade the Company's securities.

The Company intends to satisfy the alternative information guidelines set out National Policy 12 ? 203 Cease Trade Orders for Continuous Disclosure Default by filing bi-weekly Default Status Reports, as required, until such time as the financial statements and MD&A are filed.

The Company advises that there are no material changes to the information contained in the default announcement or particulars of the failure, and there is no material information concerning the affairs of the Company that has not been generally disclosed. The Company does not anticipate any subsequent defaults under National Instrument 51-102 Continuous Disclosure Obligations.

For further information, contact Greg Bronson at [email protected].

On behalf of the Board, Greg Bronson,
CEO & Director

This press release contains forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are "forward-looking statements." Forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward looking statements.

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