Kingsmen Announces $500,000 Non-Brokered Private Placement

TSXV: KNG OTCQB: TUMIF

NEWS RELEASE

KINGSMEN ANNOUNCES $500,000 NON-BROKERED PRIVATE PLACEMENT

Vancouver, British Columbia, Canada, August 15, 2019– Kingsmen Resources Ltd. (the “Company”) (TSX- V:KNG/OTCQB :TUMIF) has arranged a non-brokered private placement to raise gross proceeds to the company of up to $500,000 by the issuance of up to 7,692,308 units at a purchase price of $0.065 per unit. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share of the Company at a purchase price of $0.085 per share for a period of two years from the date of the closing of the offering. Finder's fees may be payable on a portion of the offering. Certain insiders of the Company will participate in the offering.

All securities issued to purchasers under the offering will be subject to a four-month hold period commencing from the closing date pursuant to applicable securities legislation and the policies of the TSX Venture Exchange ( TSX-V).

The Company plans to use the net proceeds for the Company's La Trini project in the Hostotipaquillo mining district in Mexico as well as for general working capital and corporate purposes. GoGold’s recent purchase of the Cinco Minas project and its announcement of a 10,000m diamond drilling program in conjunction with a field program of geological mapping, sampling and trenching on the property has renewed interest in the Hostotipaquillo mining district.

The offering is subject to the acceptance of the TSX-V.

We seek Safe Harbor.

For additional information, please contact:

Scott Emerson, President and CEO at (604) 603-0074 or Email: [email protected] Website: www.kingsmenresources.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.

Cautionary Note Regarding Forward –Looking Statements:

This news release contains certain forward-looking statements, including statements regarding the Offering of Units and the Company’s ability to complete the Offering and receiving acceptance from the TSX Venture Exchange to the completion of the Offering and the Company’s proposed plans for the use of proceeds. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-

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looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the Company does not complete all or any part of the Offering, the Company does not receive regulatory acceptance to the Offering; changes in metal prices, changes in the availability of funding, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ martially from those projected in the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf.

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