August 24, 2020 – Rockhaven Resources Ltd. (TSX-V: RK) (“Rockhaven” or the “Company”) announces the closing of the private placement initially announced by news release dated July 23, 2020, as amended by news release dated August 5, 2020. The private placement consisted of the sale of:

1. 17,900,877 flow-through units (the “FT Units”) at a price of $0.285 each, each consisting of one flow-through common share and one-half (1/2) of a share purchase warrant (each whole warrant a “Warrant”), for gross proceeds of $5,101,750; and

2. 2,500,000 units (the “Units”) at a price of $0.20 each, each consisting of one common share and one-half (1/2) of a Warrant, for gross proceeds of $500,000.

Each Warrant entitles the holder to purchase one common share at a price of $0.29 until August 20, 2022.

The net proceeds from the private placement will be used primarily to fund exploration activities at Rockhaven’s Klaza property in the Yukon. The gross proceeds raised from the issuance of the FT Units will be used for “Canadian Exploration Expenses” and will qualify as “flow-through mining expenditures” as defined int he Income Tax Act (Canada), with those gross proceeds expected to be renounced to the initial purchasers of the FT Units with an intended effective date of December 31, 2020.

The Company paid cash fees totalling $249,000 and issued 888,000 finder warrants to arm’s-length parties, including Agentis Capital Markets Canada Limited Partnership, Canaccord Genuity Corp. and Leede Jones Gable Inc. in connection with the closing of the private placement. Each finder warrant has the same terms as the Warrants forming part of the FT Units and the Units.

All securities issued pursuant to the closing of this private placement, including any common shares that may be issued pursuant to the exercise of the Warrants or the finder warrants, are subject to a hold period in Canada until December 21, 2020.

About Rockhaven

Rockhaven Resources Ltd. is a mineral exploration company focused on growth through the advancement of its Klaza project. For additional information concerning Rockhaven or its Klaza project please visit Rockhaven’s website at www.rockhavenresources.com.

Matthew Turner
President, CEO and Director
Rockhaven Resources Ltd.
T:604-687-2522
mturner@rockhavenresources.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 RELEASE.

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