News & Press Releases

Vancouver, British Columbia, July 26, 2018

Batero Gold Corp. ("Batero," The "Company") (TSX-V: BAT) (Frankfurt: 68B) (Pinksheets: BELDF) is pleased to report the update of the La Cumbre - Oxide Zone, which is part of the Batero-Quinchía project (the "Project") 100% owned by the Company, located in the department of Risaralda, Colombia.

Geochemical Exploration and Mapping

The evaluation of the zone of oxide mineralization in sectors surrounding the deposit of La Cumbre continued with a phase of systematic geochemical exploration and mapping in the sectors of Mandeval, La Lengüita and Dos Quebradas. A total of 100 soil samples during the first semester of 2018 were collected.

This exploratory phase indicated that an oxide zone with potential to concentrate gold and silver mineralization is developed in the sectors of Dos Quebradas and Mandeval, while the La Lengüita sector has no potential due to the presence of a structural zone that does not generate a significant volume of potential resources.

Figure 1 - Geochemical Sampling Location Mandeval, La Lengüita and Dos Quebradas

Resource Estimate Update - NI 43-101 Technical Report

The firm LINAMEC SAG PERU was contracted to update the gold and silver resource estimate of the La Cumbre Deposit - Oxide Zone and complete an NI 43-101 technical report. This report will be published when it is completed.

Mining Plan and Infrastructure

At the same time, the services of GeoLogic and GeoEntech - Peru were contracted to analyze alternatives for a mining plan and define suitable areas for the location of the mining infrastructure. The characterization and definition of these areas involved 62 geotechnical tests and standard penetration tests were carried out, results of which are currently being evaluated.

Metallurgical Testing

Additionally, METTS - Peru was contracted to perform metallurgical tests of cyanide leaching in columns, with material from the oxide and transition zones of the deposit. Oxide zone material for the tests was sourced from 3 trenches of more than 6m deep to extract a ROM sample of 1.5Tn. Transition zone material consisted of 500kg from 113 samples of coarse sample rejects.

Environmental Monitoring

Environmental monitoring has been carried out periodically and demonstrates that the water sources have not been contaminated by the exploration as evidenced by the water quality analyses carried out by the certified laboratory Gestión y Medio Ambiente SAS, and validated by the local environmental authority CARDER. Due to the above, the concession of water for industrial and domestic use of the project was extended.

Social Management Programs

During the last six months, the social management programs of the company have focused on four specific lines of action that allow the promotion and maintenance of a strategic approach with the different stakeholders. These programs are carried out within an inclusive framework that entails improving the socio-economic conditions of the communities located within the jurisdiction of the project.

These lines of action or community development programs are framed within the welfare programs promoted by the municipal administration of Quinchía, which are focused on:

• Education
• Institutional Strengthening
• Health
• Culture and Heritage Development

Environmental Impact Study (EIA)

In a complementary manner, the Environmental Impact Study (EIA) with Servicios Ambientales y Geográficos - SAG SAS began, and has advanced the abiotic, biotic and socio-economic characterization of the La Cumbre - Oxide Zone project.

Prior Consultation Process

In addition, to proceed with the pre-consultation and prior consultation process, the certification of the presence of indigenous communities was requested from the Ministry of the Interior. The request is still under evaluation.

The study of archaeological potential and consequent exploration program and archaeological compensation plan will be started within the La Cumbre - Oxide Zone project, which is processed before the Colombian Institute of Anthropology and History.

Sample Preparation, Assays, and Quality Assurance/Quality Control ("QA/QC")

Core is collected, logged (geological & geotechnical), cut and sampled at Batero's drilling camp in the project area. All quality control ("QC") samples are introduced before shipment to ALS Minerals' sample preparation facilities in Medellin, Colombia. The prepared samples are then shipped to ALS Minerals' analytical facilities in Lima, Peru for analyses. Gold is fire-assayed using a 50 gram aliquot sample and Atomic Absorption finish. Multi-element analysis is achieved by Four Acid Digestion and an Induced Coupled Plasma-Emission Spectroscopy finish.

The Company's QA/QC program includes the regular insertion of blanks, multiple certified assay standards and duplicate samples into the sample shipments. These QC samples are inserted in every assay batch with each batch comprising 12% of such samples. Monitoring of these QC samples is a critical part of Batero's QA/QC protocols that involve the re-analysis of a minimum of 10 samples bounding any failed control sample. A third party check laboratory receives 5% of all samples to verify the original assays.

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