Reign Sapphire Corporation announced that Reign has completed its due diligence on the gold exploration license application it intends to acquire from Quad Equities Pty Ltd. ("Quad") and intends to commence drafting and signing of definitive agreements with Quad. Reign previously announced the signing of a non-binding letter of intent with Quad on December 18, 2019, whereby Reign plans to acquire 100% of the equity ownership interests of Quad. Quad currently holds EL006892, which is a gold exploration license application in the Mount Rothwell area in Victoria, Australia (the “Exploration License”). Reign Sapphire Corporation has changed its name to Reign Resources Corporation and intends to focus on gold exploration in Victoria, Australia, with the project associated with the Exploration License being its first Victorian Gold project, with additional projects under review. The project associated with the Exploration License is situated in the Mount Rothwell area in Victoria, Australia, to the East of Steiglitz Golfields. Mount Rothwell is 20 km west of Werribee, and 45 km west of Melbourne. As of January 8, 2020, definitive agreements with Quad have not been executed. Reign will provide details of the Quad acquisition on Form 8-K pursuant to applicable disclosure rules and regulations.