Gespeg Resources Ltd. Announces Name Change

Montreal, Quebec, CANADA


THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES NOR FOR DISSEMINATION IN THE UNITED STATES

SASKATOON, Saskatchewan, Dec. 29, 2020 (GLOBE NEWSWIRE) -- GESPEG RESOURCES LTD. (TSX-V: GCR) (the “Company” or “Gespeg”) announces that effective on or about January 7, 2021, the Company’s name will change from “Gespeg Resources Ltd.” to “1844 Resources Inc.”. The company is changing through a mutual agreement with the elected band council and the elected Chief Terry Shaw of the Gespeg community of the Mi’kmaq nation situated at the east end of the Peninsula a few kilometers from Gaspé. It has been an honor to represent the Gespeg name across the country and around the world for the past 8 years, and the Company will continue to represent the region with its new name, 1844 Resources Inc.

1844 Resources Inc. was selected due to its association with the first exploration and geological survey of the Gaspé Peninsula, completed in the year 1844 by Sir William Edmond Logan, a Montreal born geologist and the founder and first director of the Geological Survey of Canada.

The Company’s common shares will begin trading on the TSX Venture Exchange on or about January 7, 2021 under the new name and the trading symbol for the Company will change from “GCR” to “EFF”. The new CUSIP will be 68288L103and the new ISIN number will be CA68288L1031. The share capital of the Company remains unchanged.

About Gespeg Resources Inc.:

Gespeg is an exploration company with a focus in strategic and energetic metals and underexplored regions “Gaspé, Chibougamau Québec”. With a dedicated management team, the Company’s goal is to create shareholder value through the discovery of new deposits.

GESPEG RESOURCES LTD.

(signed) “Sylvain Laberge”                

Sylvain Laberge

President and CEO

514.702.9841

slaberge@gespegcopper.com

Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.