Rhyolite Announces Appointment of New Chief Financial Officer and Change in Year End

Vancouver, British Columbia--(Newsfile Corp. - November 23, 2020) -   Rhyolite Resources Ltd. (TSXV: RYE) (the "Company" or "Rhyolite") is pleased to announce the appointment of Ms. Cybill Tsung as Chief Financial Officer of the Company. Mr. John Downes has stepped down as Chief Financial Officer and the Company thanks him for his many years of service and wishes him the very best in his future endeavours.

Ms. Tsung is a Chartered Professional Accountant and a Chartered Accountant of Ontario, Canada with over 18 years of progressive and diverse international experience in senior finance roles with TSX and TSXV-listed companies in the mining, information technology, and consumer product industries. Her mining background encompasses development stage projects, greenfield and advanced exploration, permitting, EIA and feasibility study preparation, working in developing countries, community relocations, and financing. Prior to joining Rhyolite Resources, Ms. Tsung served as Chief Financial Officer for Cordoba Minerals Corp. Ms. Tsung holds Master of Accounting and Honours Bachelor of Arts, Chartered Accountancy Studies degrees from the University of Waterloo.

The Company is also pleased to announce that that its Board of Directors has resolved to change the Company's fiscal year-end from June 30th to December 31^st effective immediately, to align with year-end of the recently acquired subsidiary which holds the option in the Brothers Project in Suriname. The notice for the year-end change required under National Instrument 51-102 has been filed under the Company's profile at www.sedar.com^[1]

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

Contact information

Richard Graham, President and CEOTelephone: 604-488-8717

About Rhyolite Resources Ltd.

Rhyolite Resources Ltd. is a Canadian-based, opportunity focused, resource company. Utilizing its technical strength and entrepreneurial drive, Rhyolite's corporate strategy is to enhance shareholder value through the acquisition of discovery to production staged projects.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/68771^[2]