NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

January 20, 2021 – Vancouver, BC: Barsele Minerals Corp. (TSX.V:BME) (the “Company” or “Barsele”) is pleased to  announce that the Company intends to undertake a non-brokered private placement financing (the “Offering”) to  raise aggregate gross proceeds of up to $2.0 million from the sale of up to 3,076,924 common shares of the Company (the “Shares”) at a price of $0.65 per Share. 

The Company intends to use the net proceeds from the Offering for working capital requirements and other general  corporate purposes. 

The Offering is anticipated to close on or about January 29, 2021 (the “Closing Date”). The closing of the Offering is  subject to certain conditions, including but not limited to, the approval of the TSX Venture Exchange and certain  other conditions customary for a private placement of this nature. All securities issued pursuant to the Offering will  be subject to a statutory four month and one day hold period from the Closing Date. 

The Company has agreed to pay a finder’s fee in respect of those purchasers under the Offering introduced to the  Company by certain persons (each a “Finder”). Each Finder will receive a cash payment equal to 6% of the gross  proceeds received by the Company from purchasers under the Offering who were introduced to the Company by  such Finder. 

The securities described herein have not been, and will not be, registered under the United States Securities Act of  1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or  sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and  applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute  an offer to sell or a solicitation to buy any securities in any jurisdiction. 

About Barsele Minerals Corp. 

Barsele is a Canadian-based junior exploration company managed by the Belcarra Group, comprised of highly  qualified mining professionals. Barsele’s main property is the Barsele Gold Project in Västerbottens Län, Sweden, a  joint venture with Agnico Eagle. An updated NI 43-101 Technical Report on the Barsele Project with an effective date  of February 21, 2019, was filed on SEDAR on April 2, 2019. 

ON BEHALF OF THE BOARD OF DIRECTORS 

Gary Cope
President

For further information, please contact Barsele Minerals Corp. at (604) 687-8566 x228, email info@barseleminerals.com or visit our website at www.barseleminerals.com.