Telson Mining Increases Private Placement

TSN_NR_229_Jul02_2020

Telson Mining Corporation (“Telson” or the “Company” (TSX Venture Exchange-TSN, OTC Pink-SOHFF, FrankfurtTSGN (formerly SQ82)) announces that it is increasing the maximum amount to be raised in a non-brokered private placement which was initially announced on June 16, 2020. The Company now intends to conduct a non-brokered
private placement (the “Private Placement”) of up to 14,000,000 units (the “Units”) at a price of $0.10 per Unit for total proceeds of up to $1,400,000. Each Unit will consist of one common share of the Company and one half of a transferable share purchase warrant (each whole warrant being a “Warrant” of the Company). Each whole Warrant
will entitle the holder to acquire one additional common share of the Company for a period of two years at an exercise price of $0.15 per share. The proceeds from the Private Placement are expected to be used to advance the construction of the Tahuehueto gold mine and for general working capital. Closing of the Private Placement is subject to TSX Venture Exchange approval.

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