News Release

July 15, 2020

Stock Symbol: TSX.V: RMK

Red Moon Resources – Gypsum Production Continues in Newfoundland

St. John’s, Newfoundland and Labrador: Red Moon Resources Inc. (“the Company” – “Red Moon” TSX-V:RMK) announces that production has commenced at its Ace gypsum/anhydrite mine in western Newfoundland. The first shipment of the season was made on June 19th and a second shipment is scheduled for this week. Notwithstanding the Covid 19 disruptions which have impacted production and sales, the company is pleased with the progress made thus far in 2020. Overall, production is anticipated to be less than in 2019. Barring any future Covid 19 disruptions markets are expected to normalize in 2021.

In anticipation of future demands for gypsum, the Company has been evaluating further mine development opportunities in the historic Flat Bay mines. This includes the possible reclamation of historic gypsum tailings left over from previous operations. It is estimated internally, based on drone surveys, that the tailings pile contains approximately one million tonnes of gypsum tailings. Particle size appears to be less than 3 inches in diameter which was considered waste from previous operations. The tailings were produced solely from physical crushing and screening. They were never processed with chemicals and as such are not toxic.

An independent bench scale analysis of the tailing samples has been undertaken on behalf of the Company. It indicates that gypsum purity may be amenable to enrichment through dry or wet sieve screening to remove insoluble impurities to the point of meeting customer specifications for cement and / or wallboard. The Company is planning on scaling up a dry screen test sample this summer to determine the enrichment profile and the potential recovery factor of saleable material versus insoluble and fines. This project, if viable, will not only provide saleable material for the Company but will help remediate historic workings on the property.

As well, the Company is evaluating the merits of removing overburden to access another gypsum deposit on the Flat Bay mineral property. This will require a drilling program to confirm and reference historic drilling results.

Further information regarding the Company is available at www.redmoonresources.com .

Patrick J. Laracy, P. Geo, President is the qualified person responsible for the contents of this news release as defined in National Instrument 43-101.

Red Moon is an industrial minerals company with production of gypsum/anhydrite at its Ace Mine in western Newfoundland. As well it is developing the Captain Cook Salt deposit and the Black Bay Nepheline deposit in Newfoundland and Labrador. Vulcan Minerals Inc. (TSX.V: VUL) owns approximately 63% of the common shares of Red Moon.

We seek Safe Harbor.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This release may contain certain forward-looking statements. Actual events or results may differ from the Company’s expectations. Certain risk factors beyond the Company’s control may affect the actual results achieved. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except by law, the Company undertakes no obligation to publicly update or revise forward-looking information.

For information please contact:

Patrick J. Laracy, President

(709) 754-3186

laracy@vulcanminerals.cawww.redmoonresources.com