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Golden Matrix Third Quarter Revenues Tracking 40 Percent Higher Than Previous Quarter

Company Negotiating With Several Parties To Enter New Markets

Las Vegas, NV - (NewMediaWire) - September 24, 2020 - Golden Matrix Group Inc. (OTC: GMGI), a developer and licenser of social gaming platforms, systems and gaming content, today reported that revenues for the third fiscal (Oct. 31) quarter are currently on track to achieve $1.46 million, which would represent a 40% increase on revenues of $1,045,425 recorded in the previous quarter.

According to CEO Brian Goodman, “Momentum continues to improve as we sign up more casino operators in the Asia Pacific (APAC) region and increase our user base, which has grown to 3.5 million registrants, up 133% percent on the 1.5 million registrants reported at the end of calendar 2019. We are pleased with this steady progression in our core business and expect it to continue as operators recognize the ongoing need to strengthen their online presence.”

Additionally, Mr. Goodman said the company, with a strong balance sheet and recurring quarterly profits, is now positioned to engage in expansion activities that further increase GMGI’s market share in the APAC region, as well as enable the company to expand into new vertical markets. “We are currently in negotiations with some very successful companies in the gaming space and expect to soon announce several partnerships and transactions that can accelerate profitable growth, expand the Golden Matrix brand, and improve shareholder value.”

About Golden Matrix

Golden Matrix Group, based in Las Vegas NV, is an established gaming technology company that develops and owns online gaming IP and builds configurable and scalable white-label social gaming platforms for its international customers, located primarily in the Asia Pacific region. The gaming IP includes tools for marketing, acquisition, retention and monetization of users. The company's platform can be accessed through both desktop and mobile applications.

Our sophisticated software automatically declines any gaming or redemption requests from within the United States, in strict compliance with current US law.

Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Security and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.

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Contact: Scott Yan