Issue of Equity and Total Voting Rights

17 November 2020

Scotgold Resources Limited

("Scotgold" or the "Company)

Issue of Equity and Total Voting Rights

Scotgold Resources Limited (AIM: SGZ), the gold exploration and production company focused on Scotland, announced it has applied for the admission to trading on AIM of 8 depositary interests of no par value in the Company ("New Ordinary Shares"). These shares were issued pursuant to the exercise of options that were granted pursuant December 2017 Rights Issue but were not admitted to trading at the time in error.

Application will be made for the 8 New Ordinary Shares to be admitted to trading on AIM ("Admission") and Admission is expected to take place on or around 20 November 2020.

Following Admission, the Company's enlarged issued share capital will comprise of 54,079,014 ordinary shares of no par value with voting rights. The Company does not hold any shares in treasury, therefore the total number of shares in the Company with voting rights will be 54,079,014. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company.

**ENDS**

For further information please contact: