Baroyeca Gold & Silver Inc. announced the update on the status of the acquisition of the two options to acquire the Santa Barbara and Falan mining properties located in Colombia, South America. The Company made filings with the TSX Venture Exchange for approval of the acquisitions. Both acquisitions were considered reviewable transactions under the Exchange Policies and the Exchange categorized the acquisition of the Santa Barbara Property as a fundamental acquisition as defined in their policies. As such, and given that the share consideration to be issued to the Optionor on closing could possibly result in a change of control of the Company, the Exchange, in accordance with its policies, required trading in the shares of the Company to be halted on announcement of the acquisition. The Exchange then proceeded with its review of the documentation filed by the Company in support of their application for approval and on December 3, 2020, the Company's shares were returned to trading on the Exchange. The resumption of trading in the Company's shares does not constitute acceptance by the Exchange of the acquisition transaction nor should it be construed as assurance of the merits of the transaction or the likelihood of completion. The review process is ongoing and the Exchange has issued comments with respect to the Company's submission, to which the Company is in the process of responding. The Exchange does require the approval of a majority of the disinterested shareholders in the transactions to the possible change of control resulting from the issuance of the share consideration to the Optionor at closing. The Company has set its annual general meeting to be held on December 30, 2020. Disinterested shareholders at that meeting will be asked to consider and approve the possible change of control.