CROSS RIVER CLOSES $1.93 MILLION FLOW-THROUGH PRIVATE PLACEMENT FINANCING

Vancouver, British Columbia, Canada – December 23, 2020 – Cross River Ventures Corp. (CSE:
CRVC)(FWB:C6R) (the “Company”) announces that it has closed the previously announced
brokered private placement offering (the “Offering”) of flow-through units of the Company (the
“FT Units”) at a price of $0.37 per FT Unit (the “Offering Price”) for aggregate gross proceeds to
the Company of $1,929,070.11. The Offering was led by Mackie Research Capital Corporation as
sole agent and sole bookrunner (the “Agent”).
The gross proceeds received by the Company from the sale of the FT Units will be used to incur
eligible “Canadian exploration expenses” (“CEE”) that are “flow-through mining expenditures” (as
such term is defined in the Income Tax Act (Canada) (the “Tax Act”)) related to the Company’s
mining projects. The Company will renounce such CEE to the purchasers of the FT Units with an
effective date of no later than December 31, 2020.
Each FT Unit consists of one common share of the Company that qualifies as a “flow-through
share” within the meaning of subsection 66(15) the Tax Act (a “FT Common Share”), and one-half
of one common share purchase warrant (each whole warrant, a “Warrant”) that qualifies as a
“flow-through share” within the meaning of subsection 66(15) the Tax Act. Each Warrant entitles
the holder thereof to purchase one common share in the capital of the Company (a “Common
Share”) at an exercise price of $0.46 at any time up to 36 months following the closing of the
Offering (the “Closing”).

The FT Units, the securities underlying the FT Units and the Compensation Options (as defined
herein) to be issued under the Offering will have a hold period of four months and one day from
the Closing.
In connection with the Offering, the Agent received a cash commission and the Company issued to
the Agent 417,096 compensation options (the “Compensation Options”). Each Compensation
Option entitles the holder thereof to purchase one unit of the Company (a “Unit”) at an exercise
price equal to the Offering Price for a period of 36 months following the Closing. Each Unit consists
of one Common Share and one-half of one Warrant.
The securities described herein have not been, and will not be, registered under the United States
Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and
accordingly, may not be offered or sold within the United States except in compliance with the
registration requirements of the U.S. Securities Act and applicable state securities requirements or
pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a
solicitation to buy any securities in any jurisdiction.
About Cross River Ventures Corp.
Cross River is a gold exploration company that is focused on the development of top tier
exploration properties in premier mining districts. The Company controls a multiple project
portfolio in NW Ontario, Canada, with highly prospective ground in and among prolific, gold
bearing greenstone belts. The Company also owns an option to acquire a 100% undivided interest
in the Tahsis Property, an early-stage gold exploration property located on Vancouver Island, in
the Nanaimo Mining Division, British Columbia. Cross River’s common shares trade under the
symbol “CRVC” on the CSE.
On behalf of the Board of Directors of
CROSS RIVER VENTURES CORP.
Alex Klenman
CEO
604-227-6610
aklenman@crossriverventures.com
John Fraser
President
604-227-6610
jfraser@crossriverventures.com

www.crossriverventures.com
Cautionary Note Regarding Forward-looking Information
This news release may contain forward-looking statements. These statements are based on
current expectations and assumptions that are subject to risks and uncertainties. Actual results
could differ materially because of factors discussed in the management discussion and analysis
section of our interim and most recent annual financial statement or other reports and filings with
the Canadian Securities Exchange and applicable Canadian securities regulations. We do not
assume any obligation to update any forward-looking statements, except as required by applicable
laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of
the securities in the United States. The securities have not been and will not be registered under
the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state
securities laws and may not be offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state securities laws or an exemption
from such registration is available.

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