Outcrop Gold : Recognized as a TSX Venture 50 Company

Outcrop Recognized as a TSX Venture 50 Company

February 24, 2021 - Vancouver, BC - Outcrop Gold Corp. (TSXV:OCG, OTCPK:MRDD.F, DE:MRG1) ('Outcrop') is pleased to announce that it has been named to the 2021 TSX Venture 50, a ranking of top performing companies traded on the TSX Venture Exchange. Outcrop was ranked fourth in the Mining Sector with a market cap increase of 1,381% and a share price increase of 392% in 2020.

The TSX Venture 50 is an annual program showcasing the top performing listed companies from five industry sectors: Clean Technology and Life Sciences, Diversified Industries, Energy, Mining, and Technology. Winners were selected based on three equally weighted criteria: market capitalization growth, share price appreciation and trading volume for the year ended December 31, 2020. A brief video on Outcrop highlighting this achievement can be found at www.tsx.com/venture50 and by clicking the link below:

TMX Interview with Outcrop President and CEO Joe Hebert

'We are honoured to be recognized by the TSX Venture as a top 10 Company in our sector', commented Joe Hebert, President and CEO of Outcrop. 'We have worked hard to deliver value through drilling multiple discoveries during 2020 at Santa Ana in Colombia. In 2021, we look forward to establishing Santa Ana as a world-class silver district, advancing other projects in our portfolio and continuing to leverage the excellent platform provided to us by the TSX.'

About Outcrop Gold

Outcrop is a hybrid prospect generator active in Colombia acquiring gold and silver exploration projects with world-class discovery potential. Outcrop performs its own grass roots exploration and then employs a joint venture business model on its projects to maximize investor exposure to discovery and minimize financial risk. Outcrop has seven primary projects in Colombia. While Outcrop's other projects are available for joint venture, Outcrop will continue to drill and de-risk the Santa Ana high-grade silver project.

ON BEHALF OF THE BOARD OF DIRECTORS

Joseph P Hebert, Chief Executive Officer Mars Investor Relations
[phone] [phone]
[e-mail] [e-mail]
www.outcropgoldcorp.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain information contained herein constitutes 'forward-looking information' under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'potential', 'we believe', or variations of such words and phrases or statements that certain actions, events or results 'will' occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Outcrop to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including: the receipt of all necessary regulatory approvals, capital expenditures and other costs, financing and additional capital requirements, completion of due diligence, general economic, market and business conditions, new legislation, uncertainties resulting from potential delays or changes in plans, political uncertainties, and the state of the securities markets generally. Although management of Outcrop have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Outcrop will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.