Jupiter Gold Corporation reported that it has received an initial mining license for its Paracatu Project in the state of Minas Gerais, Brazil. The Brazilian government official gazette published in its July 29, 2019 edition the granting to the Brazilian subsidiary of Jupiter Gold of the “Guia de Utilização” number 111-2019 with respect to its Paracatu Project mineral right number, permitting commercial mining for gold in up to 50,000 tons per year for three years. This type of licensing can be renewed or expanded. The subsidiary of Jupiter Gold holds title of this mineral right. The Paracatu Project is 100% owned by Jupiter Gold. It is comprised of a 312.66-hectare (773-acre) mineral right located within the municipality of Paracatu, a known area for gold since 1722. This mineral right encompasses an alluvial plain along the “Córrego do Rico” (Rich Man Creek), which drains the gold deposit located 4 miles upstream known as “Morro do Ouro” (Gold Hill), an ore body of 16,000,000 ounces of gold according to publicly-available reports. The Morro do Ouro open-sky mine is currently owned and operated by Kinross Gold Corporation and produces over 500,000 ounces of gold annually according to published reports. Jupiter Gold’s geologist had initially planned for an exploratory drilling campaign for the Paracatu Gold Project with six drill holes spaced 100 meters apart. Upon initial drilling, immediate visualization of fine gold in several holes resulted in the decision to expand from an exploratory to a detailed drilling campaign. A total of 23 holes spaced 25-30 meters were drilled using a Banka 4-inch percussion rotary drill. Gold was visualized in 18 out of the 23 drill holes executed. Fine gold was observed within gravel at depths varying from 0.5 meters (app. 20 inches) to 7.8 meters (app. 26 feet). Samples were submitted to the SGS-Geosol laboratory unit in Belo Horizonte, Brazil, where geochemical analysis was performed by Fire Assay Atomic Absorption protocols, and 18 of 23 drill holes were confirmed positive for gold.