Parallel Mining Corp. announced that the Ministry of Mines and Petroleum in the Federal Democratic Republic of Ethiopia has granted the Company an exploration license for gold and base metals exploration in the Tigray region of Ethiopia. The exploration license EL00572021 (the "License"), referred to as the Star Property, covers a total area of 399.73 square kilometers (the "Property"). The Property is located within the Pan African, Neo-Proterozoic, Arabian-Nubian Shield. Historically the area of the License has been explored by other companies for volcanogenic massive sulphide (VMS) and intrusion-related shear zone gold mineralization. A number of prospects and deposits have been discovered in the license. Previous explorers had identified Volcanic Massive Sulfide polymetallic ("VMS") deposits which are associated with and created by volcanic-associated hydrothermal events in submarine environments. They are predominantly stratiform accumulations of sulfide minerals that precipitate from hydrothermal fluids on or below the seafloor in a wide range of ancient and modern geological settings. VMS deposits can be major sources of zinc, copper, lead, silver and gold. VMS deposits may occur in clusters or stacks and have potential for significant resource size and they tend to occur at specific stratigraphic horizons, commonly boundaries between contrasting lithologies within volcanic successions. Many gold occurrences are noted in the district with widespread occurrence of artisanal workings. Gold is associated with shear hosted quartz veining and often occurs in association with sulfides hosted within vein quartz. An association of gold with tourmaline was also observed by the company's Technical Director Ian Cooper during a field visit in early 2019 and can be compared to the gold tourmaline association noted in many gold deposits in West African Craton. A study of available literature has indicated that this alteration style has not been previously identified in the Tigray region.