Kingsmen completes 49% sale of La Trini Project, Mexico

TSXV: KNG OTCQB: TUMIF

Kingsmen completes 49% sale of La Trini Project, Mexico

Vancouver, British Columbia, Canada, April 09, 2020– Kingsmen Resources Ltd. (the “Company”) (TSX-V:KNG/OTCQB :TUMIF) is pleased to announce that further to its news release of February 18,2020, the Company has now finalized and signed the definitive agreement (the “Agreement”) to sell 49% of the Company’s La Trini property located in Jalisco, Mexico (the “Property”) to an arm’s length purchaser (the “Purchaser”) in consideration for US$225,000. The Company has also provided the Purchaser with an option (the “Option”) to acquire the remaining 51% of the Property by paying the Company US$210,000 on the second anniversary of the Agreement, subject to acceleration provisions. The Company will retain a 1% NSR on the Property. The Purchaser may repurchase the 1% NSR at any time by paying the Company US$1,000,000. If the Purchaser does not exercise the Option within the applicable time period, then the Option will expire and the Company may repurchase the Purchaser’s 49% interest in the Property. The Company will now proceed to obtain all necessary regulatory approvals and subsequently close the agreement.

We seek Safe Harbor.

On behalf of the board:

“Scott Emerson”

President and CEO

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.

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