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Parallel Mining Corp. Completes $799,915 Private Placement

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Vancouver, British Columbia – Parallel Mining Corp. (TSX-V: PAL) (the “Company” or “Parallel”) is pleased to announce it has closed its previously announced non-brokered private placement. The Company issued an aggregate of 7,618,238 common shares of the Company at a price of $0.105 per share for gross proceeds of $799,915 (the “Private Placement”).

The net proceeds from the Offering will be used for general working capital purposes.

In connection with the Private Placement, the Company agreed to pay aggregate cash finder’s fees of $9,382.80 to eligible finders. All securities issued pursuant to the Private Placement are subject to a statutory four month hold period ending on October 10, 2020, in accordance with applicable securities laws.

The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.

For further information, please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

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

This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, are forward-looking statements. 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 the forward-looking statements. This news release contains historical technical information. The Company believes the technical information to be relevant and reliable, and there are no more recent estimates or data available to the Company. While the Qualified Person has reviewed the data included in this news release, a 43-101 compliant technical report has not been completed on the Mane property and the quality assurance/quality control process of the historical data could not be verified by the Qualified Person.

Parallel Mining Corp. Announces Private Placement

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Vancouver, British Columbia – Parallel Mining Corp. (TSX-V: PAL) (the “Company” or “Parallel”) is pleased to announce it is proceeding with a private placement of up to 7,619,047 common shares of the Company at a price of $0.105 per share for gross proceeds of up to $800,000 (the “Offering”).

The net proceeds from the Offering will be used for general working capital purposes. In connection with the Offering, the Company may pay a finder’s fee in cash to eligible finders equal to 8% of the gross proceeds received by the Company from purchasers who were introduced to the Company by such finder.

The Offering is subject to the approval of the TSX Venture Exchange. All securities issued pursuant to the Offering are subject to a statutory four month hold period.

The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.

For further information, please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

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

This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, are forward-looking statements. 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 the forward-looking statements. This news release contains historical technical information. The Company believes the technical information to be relevant and reliable, and there are no more recent estimates or data available to the Company. While the Qualified Person has reviewed the data included in this news release, a 43-101 compliant technical report has not been completed on the Mane property and the quality assurance/quality control process of the historical data could not be verified by the Qualified Person.

Parallel Mining Corp. Completes Private Placement

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Vancouver, British Columbia – Parallel Mining Corp. (TSX-V: PAL) (the “Company” or “Parallel”) announces it has closed the second and final tranche of its previously announced non-brokered private placement. The Company issued 500,000 common shares of the Company at a price of $0.10 per share for gross proceeds of $50,000 (the “Offering”).

The Company intends to use the proceeds of the Offering for general working capital. The shares issued pursuant to the second tranche of the private placement are subject to a statutory four month hold period expiring on August 7, 2020, in accordance with applicable securities laws.

The Company also announces that further to its news release dated January 28, 2020 regarding its loan agreement with R. Stuart Angus (the “Lender”) for the principal amount of $50,000 (the “Loan”), the Lender will receive from the Company 250,000 non-transferable share purchase warrants (the “Warrants”) as consideration for the Loan instead of bonus shares as previously announced. Each Warrant will entitle the holder to purchase one common share of the Company at $0.20 per share for a period of one year. Any shares issued on exercise of the warrants are subject to a four month hold period expiring on August 7, 2020.

The Company issued an aggregate of 500,000 common shares pursuant to the Offering and 250,000 Warrants pursuant to the Loan transaction to an insider in consideration for an aggregate of $50,000. Each transaction with the insider constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The transactions are exempt from the formal valuation requirements of MI 61-101 pursuant to section 5.5(a) and the minority shareholder approval requirements of MI 61-101 pursuant to section 5.7(1)(a) as the fair market value of the transactions will not be more than 25% of the Company’s market capitalization.

All securities issued pursuant to the Offering and the Loan are subject to statutory hold periods in accordance with applicable securities laws. This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent United States registration or an applicable exemption from United States registration requirements.

Early Warning Report

R. Stuart Angus of Sechelt, B.C., acquired 500,000 common shares of the Company pursuant to the Offering and 250,000 Warrants pursuant to the loan agreement respecting the Loan. Each Warrant is exercisable into one common share of the Company at an exercise price of $0.20 per share for a period of one year from the date of issuance. Mr. Angus acquired the common shares described above at a price of $0.10 per share for a total purchase price of $50,000. Mr. Angus acquired the Warrants in consideration for providing the Loan to the Company.

Immediately prior to the acquisition described above, Mr. Angus owned 1,333,333 common shares of the Company, representing 10.98% of the issued and outstanding shares of the Company. In addition, Mr. Angus owned 66,667 Warrants. If Mr. Angus had exercised all his Warrants, he would then have owned 1,400,000 common shares of the Issuer, representing 11.46% of the issued and outstanding shares of the Issuer on a partially diluted basis, assuming no further common shares of the Issuer have been issued.

As a result of the acquisition described above, Mr. Angus now owns 1,833,333 common shares of the Company, representing 14.5% of the issued and outstanding shares of the Company on an undiluted basis. In addition, Mr. Angus owns 316,667 Warrants. If Mr. Angus exercises all his Warrants, he would own 2,150,000 common shares of the Issuer, representing 16.59% of the issued and outstanding shares of the Issuer on a partially diluted basis, assuming no further common shares of the Issuer have been issued.

Mr. Angus acquired the securities for investment purposes, and has no present intention to dispose of or acquire further securities of the Issuer. Mr. Angus may, in the future participate in financings and/or acquire or dispose of securities of the Issuer in the market, privately or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.

The disclosure respecting Mr. Angus’ shareholdings contained in this press release is made pursuant to Multilateral Instrument 62-104 and a report respecting the above acquisition will be filed with the applicable securities commissions using the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) and will be available for viewing at www.sedar.com.

The Company’s head office is located at Suite 804 – 750 West Pender Street, Vancouver, British Columbia, V6C 2T7, Canada.

For further information, please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, are forward-looking statements. 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 the forward-looking statements. This news release contains historical technical information. The Company believes the technical information to be relevant and reliable, and there are no more recent estimates or data available to the Company. While the Qualified Person has reviewed the data included in this news release, a 43-101 compliant technical report has not been completed on the Mane property and the quality assurance/quality control process of the historical data could not be verified by the Qualified Person.

Parallel Mining Corp. Completes First Tranche of Private Placement for $770,000

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Vancouver, British Columbia – Parallel Mining Corp. (TSX-V: PAL) (the “Company” or “Parallel”) is pleased to announce it has closed its previously announced non-brokered private placement. The Company issued an aggregate of 7,700,000 common shares of the Company at a price of $0.10 per share for gross proceeds of $770,000 (the “Offering”).

In connection with the closing of the financing, the Company paid aggregate finder’s fees of $24,000 in cash. The Company intends to use the proceeds of the Offering for general working capital. The securities issued pursuant to the first tranche of the private placement are subject to a statutory four month hold period expiring on June 8, 2020, in accordance with applicable securities laws.

The Offering is subject to acceptance by the TSX Venture Exchange.

For further information, please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, are forward-looking statements. 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 the forward-looking statements. This news release contains historical technical information. The Company believes the technical information to be relevant and reliable, and there are no more recent estimates or data available to the Company. While the Qualified Person has reviewed the data included in this news release, a 43-101 compliant technical report has not been completed on the Mane property and the quality assurance/quality control process of the historical data could not be verified by the Qualified Person.

Parallel Mining Corp. Announces Loan Agreement

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Vancouver, British Columbia – Parallel Mining Corp. (TSX-V: PAL) (the “Company” or “Parallel”) announces that it has entered into a loan agreement with R Stuart Angus (the “Lender”), a non- arm’s length party, for the principal amount of $50,000 (the “Loan”). The Loan has a maturity date of April 24, 2020 and bears interest at a rate of 10% per annum. Use of proceeds from the Loan is for general working capital purposes.

As additional consideration for the Loan, the Company has agreed to issue to the Lender bonus shares of the Company equal in value to 10% of the principal amount of the Loan (the “Bonus Shares”). The issuance of the Bonus Shares is subject to TSX Venture Exchange acceptance.

For further information, please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, are forward-looking statements. 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 the forward-looking statements. This news release contains historical technical information. The Company believes the technical information to be relevant and reliable, and there are no more recent estimates or data available to the Company. While the Qualified Person has reviewed the data included in this news release, a 43-101 compliant technical report has not been completed on the Mane property and the quality assurance/quality control process of the historical data could not be verified by the Qualified Person.

Parallel Mining Corp. Announces Private Placement

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Vancouver, British Columbia – Parallel Mining Corp. (TSX-V: PAL) (the “Company” or “Parallel”) announces a proposed non-brokered private placement of up to 7,500,000 common shares of the Company at a price of $0.10 per share for gross proceeds of up to $750,000 (the “Offering”).

The Company intends to use the proceeds of the Offering for general working capital. In connection with the Offering, the Company may pay finder’s fees to eligible finders of 8% in cash or warrants.

The Offering is subject to acceptance by the TSX Venture Exchange. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.

For further information, please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, are forward-looking statements. 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 the forward-looking statements. This news release contains historical technical information. The Company believes the technical information to be relevant and reliable, and there are no more recent estimates or data available to the Company. While the Qualified Person has reviewed the data included in this news release, a 43-101 compliant technical report has not been completed on the Mane property and the quality assurance/quality control process of the historical data could not be verified by the Qualified Person.

Parallel Mining Corp. Announces Effective Date of Share Consolidation

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Vancouver, British Columbia – Parallel Mining Corp. (TSX-V: PAL) (the “Company” or “Parallel”) announces that the TSX Venture Exchange has approved the previously announced consolidation of the outstanding share capital of the Company on the basis of fifteen (15) pre-consolidation common shares for one (1) new post-consolidation common share. The consolidation will be effective at the open of the market on November 26, 2019. The Company’s name and trading symbol will remain unchanged.

After the consolidation, the Company’s currently issued and outstanding common shares will be reduced to approximately 4,446,848 common shares after rounding adjustments. No fractional common shares will be issued as a result of the consolidation. All fractional shares equal or greater to one-half resulting from the consolidation will be rounded up to the next whole number. Otherwise, the fractional share will be cancelled.

Registered shareholders will receive a letter of transmittal from the Company’s transfer agent, Computershare Investor Services Inc., providing instructions on how to exchange their share certificates representing pre-consolidation common shares for new share certificates or Direct Registration System (DRS) advice statements representing post-consolidation common shares to which they are entitled as a result of the consolidation. No action is required by non-registered shareholders (shareholders who hold their common shares through an intermediary) to effect the consolidation.

For further information, please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, are forward-looking statements. 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 the forward-looking statements. This news release contains historical technical information. The Company believes the technical information to be relevant and reliable, and there are no more recent estimates or data available to the Company. While the Qualified Person has reviewed the data included in this news release, a 43-101 compliant technical report has not been completed on the Mane property and the quality assurance/quality control process of the historical data could not be verified by the Qualified Person.

Parallel Mining Corp. Announces Proposed Share Consolidation

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Vancouver, British Columbia – Parallel Mining Corp. (TSX-V: PAL) (the “Company” or “Parallel”) proposes to consolidate its issued and outstanding common shares on the basis of fifteen (15) preconsolidation common shares for one (1) new post-consolidation common share (the “Consolidation”). The Company currently has 66,702,737 common shares issued and outstanding. Upon the Consolidation becoming effective, the Company will have approximately 4,446,849 common shares issued and outstanding on a non-diluted basis, prior to rounding for fractional common shares. The Company’s outstanding incentive stock options and warrants will be adjusted on the same ratio (15:1) in accordance with their respective terms, with proportionate adjustments being made to exercise prices. No name change will be undertaken in connection with the Consolidation.

The Board has concluded that the Consolidation would be in the best interests of the shareholders as it could lead to increased interest by a wider audience of potential investors and could better position the Company to obtain financing and pursue acquisition opportunities. Notwithstanding the foregoing, the Board may determine, in its sole discretion, not to implement the Consolidation after receipt of necessary regulatory approvals. Shareholders of the Company approved the Consolidation on October 30, 2019. The Consolidation is subject to the approval of the TSX Venture Exchange. The Company will issue a further news release once the effective date of the Consolidation is confirmed with the TSX Venture Exchange, which is expected to be within the next ten business days.

For further information, please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, are forward-looking statements. 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 the forward-looking statements. This news release contains historical technical information. The Company believes the technical information to be relevant and reliable, and there are no more recent estimates or data available to the Company. While the Qualified Person has reviewed the data included in this news release, a 43-101 compliant technical report has not been completed on the Mane property and the quality assurance/quality control process of the historical data could not be verified by the Qualified Person.

Parallel Mining Conducting Due Diligence on Ethiopian Projects

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Vancouver, British Columbia – Parallel Mining Corp. (TSX-V: PAL) (the “Company” or “Parallel”) announces that it is investigating mineral exploration opportunities in northern Ethiopia. The Company believes the greenstone belts of the Nubian Shield, which run through the region, have the geological potential to host mineral deposits similar to the Bisha Mine across the border in Eritrea which was recently purchased by Zijin Mining Group in their ~$1.2 billion takeover of Nevsun Resources.

In support of Parallel’s efforts, the Government of National Regional State of Tigray, Mines and Energy Agency has issued an official letter instructing all district Mines and Energy branches to provide full support to the Company in their efforts to conduct due diligence and acquire exploration licenses.

John Anderson, President and CEO, stated: “We have identified Ethiopia as an area with tremendous potential for mineral wealth, but very little modern exploration work getting done. The government has recognized the need for foreign investment and expertise in their mining space and have been very welcoming in our initial activities there. Seeing companies such as Newmont Goldcorp establishing themselves in the same region is very encouraging for us, and suggests that we are turning our eye to a highly prospective area.” 

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, are forward-looking statements. 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 the forward-looking statements. This news release contains historical technical information. The Company believes the technical information to be relevant and reliable, and there are no more recent estimates or data available to the Company. While the Qualified Person has reviewed the data included in this news release, a 43-101 compliant technical report has not been completed on the Mane property and the quality assurance/quality control process of the historical data could not be verified by the Qualified Person.

Parallel Mining Receives Assays From Drilling at Mane II

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Vancouver, British Columbia – Parallel Mining Corp. (TSX-V: PAL) (the “Company” or “Parallel”) announces that assay results have been received from the recent drilling program designed to test one of the areas of Mane II, the Company’s 163 square kilometer optioned concession in the Kaya-Goran greenstone belt in central Burkina Faso, approximately 20 kilometers south of Nordgold’s Bissa Gold Mine.

In total, 732 meters in 10 reverse circulation holes were drilled in the southwestern part of the property to test whether high grade gold mineralization at surface extends at depth. Historical results from artisanal reject material, sampled and reported by High River Gold, include gold grades of 20.0 grams per tonne (“gpt”) and 11.2 gpt. In 2017, Parallel Mining conducted a small grab sample program (27 samples) on the artisanal reject material and results included 16.7 gpt, 12.5 gpt, 7.9 gpt, 6.3 gpt, and 6.0 gpt.

The quartz vein being exploited by the artisanal workers hosted in a felsic intrusive (granite), and Evidence of this veining was noted in most of the drill holes although gold values fluctuated. Significant values from this drilling include:

Hole #

 Azimuth Dip From (m) To (m) Interval (m)

Au Grade (gpt)
MRC18-001

360

 -50 79.0 82.0 3.0

1.6
incl. 81.0 82.0 1.0

4.61
MRC18-002

360

 -50 41.0 44.0 3.0

2.00
incl. 41.0 42.0 1.0

4.59
MRC18-006

180

 -50 91.0 95.0 4.0

2.97
incl.

93.0

 94.0 1.0

7.98
MRC18-007

360

 -50 28.0 30.0 2.0

8.63
MRC18-008

360

 -50 26.0 27.0 1.0

1.33

* From cross sectional analysis it is estimated that the true widths approximate 75% of reported widths.

“We are excited by the hit ratio of the drill holes in this program. This is still early exploration for Parallel on the Mane II property, so seeing the continued evidence of gold like this is exceptionally encouraging.” Commented John Anderson, President and CEO “We look forward to doing further work on this concession, both at this target and at the other zones of interest.”

Parallel-Mining-PAL-Mane-II-Driling-Results

Qualified Person
Julia Singh P.Geo, an independent Qualified Person under NI 43-101, has reviewed and approved the technical data and contents of this release. Samples obtained during core drilling were transported directly to Actlabs in Ouagadougou (a fully accredited laboratory), Burkina Faso by Parallel Mining personnel for sample preparation. Samples were sorted, dried, crushed and prepped for final chemical analysis using ICP-MS and fire assay methods. Standards, blanks and duplicates were inserted regularly into the sample stream.

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, are forward-looking statements. 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 the forward-looking statements. This news release contains historical technical information. The Company believes the technical information to be relevant and reliable, and there are no more recent estimates or data available to the Company. While the Qualified Person has reviewed the data included in this news release, a 43-101 compliant technical report has not been completed on the Mane property and the quality assurance/quality control process of the historical data could not be verified by the Qualified Person.

Parallel Mining Commences Drilling On the Mane II Property

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Vancouver, British Columbia, January 14, 2018 – Parallel Mining Corp. (TSX-V: PAL) (the “Company” or “Parallel”) announces the commencement of drilling on the Company’s optioned Mane II property in Burkina Faso. The Company has contracted Forage Orbit Garant BF SAS to conduct approximately 750 meters of reverse circulation drilling intended to test the continuity of the veining systems which host active and historical artisanal mining activity.

The 163 square kilometre Mane II property is located in the Kaya-Goren greenstone belt, approximately 20 kilometers south of Nordgold’s Bissa Gold Mine and approximately 40 kilometers north-northeast of the capital city, Ouagadougou. 

Board Resignation 
The Company announces the resignation of Mr. Stephen Wilkinson from the Board of Directors. The Board would like to thank Mr. Wilkinson for his contributions and are currently evaluating new candidates for the board.

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, are forward-looking statements. 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 the forward-looking statements. This news release contains historical technical information. The Company believes the technical information to be relevant and reliable, and there are no more recent estimates or data available to the Company. While the Qualified Person has reviewed the data included in this news release, a 43-101 compliant technical report has not been completed on the Mane property and the quality assurance/quality control process of the historical data could not be verified by the Qualified Person.

Parallel Mining Acquires Mane II Exploration Property in Burkina Faso

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Vancouver, British Columbia, June 19, 2018 – Parallel Mining Corp. (TSX-V: PAL) (the “Company” or “Parallel”) is pleased to announce that the Company has entered into an option agreement (“Option Agreement”) to acquire a 100% interest in the 163-square kilometre Mane II Property (“Mane”) in Burkina Faso.

The Mane property is located in the Kaya-Goren greenstone belt, approximately 20 kilometers south of Nordgold’s Bissa Gold Mine and approximately 40 kilometers north-northeast of the capital city, Ouagadougou.

Artisanal mining is active in several areas on the Property, with the most active group covering a strike length of over 200 metres, and some shafts exceeding 50 meters in depth. Historical results from artisanal reject material, sampled and reported by High River Gold, include gold grades of 20.0 grams per tonne (“gpt”) and 11.2 gpt. In 2017, Parallel Mining conducted a small grab sample program (27 samples) on the artisanal reject material and results included 16.7 gpt, 12.5 gpt, 7.9gpt, 6.3 gpt, and 6.0 gpt.

The vein being exploited by the artisanal workers is hosted in a felsic intrusive (granite) and bears similar characteristics to the vein type which hosts Roxgold’s high grade Yaramoko mine.

To acquire a 100% interest in the Mane Property, Parallel must pay the owner an initial payment of $5,000 USD, a further $15,000 USD 90 days after signing, a further $25,000 USD twelve months after signing, a further $50,000 USD twenty-four months after signing, a further $125,000 USD thirty-six months after signing, and a final payment of $250,000 USD forty-eight months after signing. The owner will retain a 2% royalty on commercial mineral production from the property, subject to a 50% buyback provision.

Qualified Person: Julia Singh, P.Geo, an independent Qualified Person under NI 43-101, has reviewed and approved the technical data and contents of this release.

Samples obtained by Parallel Mining mentioned in this release were transported directly to Actlabs in Ouagadougou, Burkina Faso by Company personnel for sample preparation. Samples were sorted, dried, crushed and prepared for final chemical analysis using the Fire Assay AA method for Au. Samples that assayed above the 10.0 gpt over limit were further analyzed by Au Gravimetrics Field duplicates were used for the grab sampling.

Sebedougou
The Company has elected to discontinue its previously announced option to acquire the Sebedougou exploration permit (see news release dated April 6, 2017) to focus on Mane as well as the continued acquisition of high-potential projects in West Africa.

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, are forward-looking statements. 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 the forward-looking statements. This news release contains historical technical information. The Company believes the technical information to be relevant and reliable, and there are no more recent estimates or data available to the Company. While the Qualified Person has reviewed the data included in this news release, a 43-101 compliant technical report has not been completed on the Mane property and the quality assurance/quality control process of the historical data could not be verified by the Qualified Person.

Robert Sibthorpe Wins Prestigious Award for His Work in Burkina Faso

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Vancouver, British Columbia, December 11, 2017 – Parallel Mining Corp. (TSX-V: PAL) (the “Company” or “Parallel”) congratulates Bob Sibthorpe, VP, Exploration, on receiving the prestigious Colin Spence Award for excellence in global mineral exploration from the Association for Mineral Exploration British Columbia (“AME BC”).

AME BC’s Colin Spence award recognizes individuals who have made a significant contribution to enhance mineral resources through the original application of prospecting techniques or other geoscience technology.

The award to Mr. Sibthorpe recognizes his role in the discovery of the Yaramoko deposit in Burkina Faso, where he pioneered the model for previously unidentified high-grade discoveries in the country.

The Company believes that exploration for similar high-grade deposits in Burkina Faso has been limited since the discovery of Yaramoko. Parallel intends to follow Mr. Sibthorpe’s model as the blueprint to find other such deposits in the region.

Mr. Sibthorpe will officially receive the award at AME BC’s Celebration of Excellence on January 24, 2018, during the annual Mineral Exploration Roundup conference in Vancouver, Canada.

About the Company Parallel holds the right to earn a 100% interest in the Sebe Property in the Hounde Greenstone Belt. The Sebe Property is located between the producing gold deposits Hounde and South Hounde operated by Endeavour Mining and Acacia Mining respectively.

Parallel also has an option to earn a 100% interest in the 165.7 square kilometer Garsay exploration permit in a highly prospective greenstone gold belt located in northwest Burkina Faso, 60 kilometers southeast of the producing Inata Gold Mine and Souma deposit

On Behalf of the Board
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Parallel Mining Corp. Announces Proposed Share Consolidation

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Vancouver, British Columbia – Parallel Mining Corp. (TSX-V: PAL) (the “Company” or “Parallel”) proposes to consolidate its issued and outstanding common shares on the basis of fifteen (15) pre-consolidation common shares for one (1) new post-consolidation common share (the “Consolidation”). The Company currently has 66,702,737 common shares issued and outstanding. Upon the Consolidation becoming effective, the Company will have approximately 4,446,849 common shares issued and outstanding on a non-diluted basis, prior to rounding for fractional common shares. The Company’s outstanding incentive stock options and warrants will be adjusted on the same ratio (15:1) in accordance with their respective terms, with proportionate adjustments being made to exercise prices. No name change will be undertaken in connection with the Consolidation.

The Board has concluded that the Consolidation would be in the best interests of the shareholders as it could lead to increased interest by a wider audience of potential investors and could better position the Company to obtain financing and pursue acquisition opportunities. Notwithstanding the foregoing, the Board may determine, in its sole discretion, not to implement the Consolidation after receipt of necessary regulatory approvals. Shareholders of the Company approved the Consolidation on October 30, 2019. The Consolidation is subject to the approval of the TSX Venture Exchange. The Company will issue a further news release once the effective date of the Consolidation is confirmed with the TSX Venture Exchange, which is expected to be within the next ten business days.

For further information, please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, are forward-looking statements. 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 the forward-looking statements. This news release contains historical technical information. The Company believes the technical information to be relevant and reliable, and there are no more recent estimates or data available to the Company. While the Qualified Person has reviewed the data included in this news release, a 43-101 compliant technical report has not been completed on the Mane property and the quality assurance/quality control process of the historical data could not be verified by the Qualified Person.