Mr. Robert Coltura reports

FIORENTINA CLOSES $4,729,565.20 NON-BROKERED PRIVATE PLACEMENT

Fiorentina Minerals Inc. has closed a non-brokered private placement for aggregate gross proceeds of $4,729,565.20 through the issuance of 23,647,826 units in the capital of the company at a subscription price of 20 cents per unit.

Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant, with each whole warrant entitling the holder thereof to purchase one common share at a price of 40 cents per common share for a period of 12 months from the closing of the financing. In the event the closing price of the common shares on the Canadian Securities Exchange is equal to or greater than 60 cents per common share for a minimum of 10 consecutive trading days commencing four months and one day after the closing of the financing, the company may accelerate the expiry date of the warrants by providing notice to the holders thereof, and, in such case, the warrants will expire on the 30th day after the date on which such notice is given by the company.

In connection with the closing of the financing, the company also announces that the terms of the financing were amended from those previously announced (see news release dated June 18, 2020). The company paid aggregate finders' fees consisting of $138,100 in cash and issued 690,500 non-transferable finders' warrants to certain finders, including Haywood Securities Inc., Canaccord Genuity Corp. and Leede Jones Gable Inc. in connection with the introduction by the finders to the company of eligible investors in the financing. Each finder's warrant entitles the holder thereof to purchase one common share on the same terms as the warrants and subject to the acceleration provisions.

The net proceeds from the financing are intended to be used for the exploration and development of the company's mineral properties and for general working capital. All securities issued in connection with the financing are subject to a hold period of four months and one day in Canada.

About Fiorentina Minerals Inc.

Fiorentina is engaged in the business of mineral exploration and the acquisition of mineral property assets in North America, including the Gold Basin property located in the Gold Basin mining district, Mohave county, Arizona, which comprises five mineral rights (2,389.34 acres) and 290 unpatented mining claims (5,280 acres), totalling 7,669.34 acres. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct its exploration program on the Consortium project mineral property. The Consortium project mineral property consists of three mineral titles covering an area of 1,161 hectares, located approximately 35 kilometres south of the town of Sayward in the Nanaimo mining division, British Columbia.

We seek Safe Harbor.