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Termination of the Option Agreement for Indra Project

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VANCOUVER, BC, December 19, 2019 — Mirasol Resources Ltd. (TSX-V: MRZ) (OTCPK: MRZLF) (the “Company” or “Mirasol”) reports that it has been advised by Hochschild Mining plc (“Hochschild”) of its decision to terminate the option agreement for the Indra Project in Chile.

Mirasol reported on the results from its drilling program on this project on October 31, 2019. Based on the results and Hochschild’s decision to terminate the agreement, Mirasol will drop the Indra project and focus its exploration and business development efforts on other opportunities.

Norm Pitcher, President and CEO of Mirasol stated: “We wish to thank Hochschild and its exploration team for their investment and for the work completed on the project over the last 12 months and we hope to work with Hochschild again in the near future. As the year wraps up, we are now looking forward to a positive start to 2020, with results expected from the ongoing drilling program at Gorbea as well as from our trenching program at Los Amarillos.”

About Mirasol Resources Ltd

Mirasol is a premier project generation company that is focused on the discovery and development of profitable precious metal and copper deposits, operating via a hybrid joint venture and self-funded drilling business model. Strategic joint ventures with precious metal producers have enabled Mirasol to maintain a tight share structure while advancing its priority projects that are focused in high-potential regions in Chile and Argentina. Mirasol employs an integrated generative and on-ground exploration approach, combining leading-edge technologies and experienced exploration geoscientists to maximize the potential for discovery. Mirasol is in a strong financial position and has a significant portfolio of exploration projects located within the Tertiary Age Mineral belts of Chile and the Jurassic age gold and silver district of Santa Cruz Province Argentina.

For further information, contact:

Norm Pitcher, President and CEO

or

Jonathan Rosset, VP Corporate Development

Tel: +1 (604) 602-9989

Email: contact@mirasolresources.com

Website: www.mirasolresources.com

Forward Looking Statements: The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. Mirasol disclaims any obligations to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.

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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