Navy Resources Corp. Updates Terms of Private Place ment

Suite 1740 -1177 West Hastings Street Vancouver, BC V6E 2K3

FOR IMMEDIATE RELEASE August 25, 2020

Navy Resources Corp. Updates Terms of Private Placement

Navy Resources Corp. (TSX-V: NVY) (the “Company”) is pleased to announce a non-brokered private placement (the “Offering") for up to $2,000,000. Pursuant to the Offering, if fully subscribed to, the Company will issue 10,000,000 common shares at a price of $0.20 per common share, for gross proceeds of $2,000,000.

Further to the above, the Company announces that its previously announced non-brokered private placement for up to $1,105,000 whereby the Company would issue 6,500,000 common shares at a price of $0.17 per common share for gross proceeds of $1,105,000 has been cancelled and replaced by the new Offering.

The proceeds of the Offering are for the Company's general working capital, to fund the investigation of additional potential acquisitions and to fund exploration activities on its current portfolio.

All securities will be subject to a four-month hold period from the closing date. The Offering is subject to TSX Venture Exchange approval.

On behalf of the Board of Directors,

“Martin Bajic”

CFO and Director

Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, and similar expressions, or are those, which, by their nature, refer to future events. Readers are cautioned to not place undue reliance on forward-looking information. Such forward looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the possibility of: (i) the Company’s inability to close the private placement; or (ii) the TSX Venture Exchange not approving the private placement. Except as required by law, the Company expressly disclaims any obligation, and does not intend, to update any forward looking statements or forward-looking information in this news release. The statements in this news release are made as of the date of this release.

Neither 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.