VANCOUVER, BC, August 19, 2022 — Mirasol Resources Ltd. (TSX-V: MRZ) (OTCPK: MRZLF) (the “Company” or “Mirasol”) announces that it has regained 100 percent control of the Gorbea High-Sulfidation Epithermal (HSE) gold project (the “Gorbea Project” or “Project”) in Chile following termination by Newcrest Mining Limited (ASX, TSX, PNGX: NCM) (“Newcrest”) of the Option and Farm-in Agreement announced on January 28, 2019.

“We wish to thank Newcrest and its exploration team for the valuable work completed and investment made on the Gorbea Project”, Mirasol’s President, Tim Heenan, commented. “Untested potential remains on the Gorbea Project, particularly at the Atlas gold-silver target and Titan gold-copper target where outcropping mineralized hydrothermal systems exist. At Atlas, drilling intersected localized high-grade zones within long intervals of mineralization.”

Since the start of the partnership, Newcrest has invested over US$11.6 million in exploration on the Gorbea Project, completed nearly 7,500 meters of drilling and made payments of US$600,000 to Mirasol.

Over the last  exploration season, in addition to the 2,072 meters of drilling (reported February 28, 2022), Newcrest completed surface exploration, mapping and geochemical sampling on the Project. Once the latest data has been received and reviewed by Mirasol, all options to continue advancing exploration at Gorbea will be considered, including the potential to identify new partners.

About Mirasol Resources Ltd

Mirasol is a well-funded exploration company with 18 years of operating, permitting and community relations experience in the mineral rich regions of Chile and Argentina. Currently Mirasol is self-funding exploration at two flagship projects, Sobek and Inca Gold, both located in Chile. Mirasol has five partner-funded projects, with First Quantum Minerals, Mine Discovery Fund and Mineria Activa in Chile, Silver Sands Resources and Patagonia Gold in Argentina. Mirasol continues to advance a strong pipeline of highly prospective early and mid-stage projects.

For further information, contact:

Tim Heenan, President

or

Troy Shultz, Vice President Investor Relations

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 and to policies linked to pandemics, social and environmental related matters. 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.