Mr. Neil Woodyer of Leagold reports

LEAGOLD COMPLETES ACQUISITION OF BRIO GOLD AND WELCOMES PETER MARRONE TO BOARD OF DIRECTORS

Leagold Mining Corp. has completed its acquisition of Brio Gold Inc. Leagold has launched a new corporate website which contains information on its gold mines and projects in both Mexico and Brazil.

Leagold is also pleased to announce that Peter Marrone, chairman and chief executive officer of Yamana Gold Inc., has accepted Leagold's invitation and today has been appointed to the Leagold board of directors. At closing, Yamana became Leagold's largest shareholder holding 58,115,954 shares representing approximately 20.5-per-cent ownership.

Neil Woodyer, Leagold's chief executive officer, stated: "We are very excited about Leagold's new position as a mid-tier gold producer with the growth of our production rate to over 400,000 ounces per year. Our business and market profiles are strengthened by our diversification in both Mexico and Brazil, and across four operating mines. Leagold's measured and indicated resources have increased to 16.4 million ounces and proven and probable reserves have increased to 5.6 million ounces. We expect to provide updated 2018 guidance with Q2 earnings to be released in August, 2018, and following a review of the operating plans.

"In addition, we are looking forward to Peter's contributions to our board as we continue to implement our growth strategy. We wish Gil Clausen well in his new role as chief executive officer of a Canadian copper producer, which has resulted in Gil choosing to not be appointed to Leagold's board."

Leagold is also pleased to provide the following updates on the previously announced financings:

• Leagold's existing $150-million senior secured credit facility, which was previously amended to provide an additional $100-million tranche of financing, has now been fully drawn. The $100-million tranche has a term of 18 months and has been used to fully repay Brio's $75-million senior secured credit facility and will support the repayment of the drawn amounts of Brio's debt with a group of Brazilian banks, which currently amounts to approximately $14.1-million.
• Orion Mine Finance completed the subscription for 21,317,098 new Leagold common shares, equivalent to $45-million at $2.7143 per share. This investment has resulted in Orion maintaining its ownership in Leagold at approximately 16 per cent.

For details on Leagold's mineral reserves and resources, with an effective date of Dec. 31, 2017, see the associated tables.

                 LEAGOLD MINERAL RESERVES STATEMENT, EFFECTIVE DATE OF DEC. 31, 2017

                                    Proven                     Probable          Proven and probable
                                 Contained                    Contained                    Contained
Mine/project    Tonnes   Grade        gold   Tonnes   Grade        gold   Tonnes   Grade        gold
                   (kt)   (g/t)       (koz)     (kt)   (g/t)       (koz)     (kt)   (g/t)       (koz)

Los Filos       14,440    0.97         449   47,004    1.36       2,050   61,444    1.26       2,499
Leach pad 
inventory                                                           216                          216
Riacho dos  
Machados         6,765    0.79         171   19,284    1.06         659   26,049    0.99         830
Fazenda 
Brasileiro       3,661    2.18         257    2,148    1.75         121    5,809    2.02         377
Pilar            1,298    2.11          88    8,063    1.34         348    9,361    1.45         436
Santa Luz       25,000    1.43       1,153    3,200    1.03         106   28,200    1.39       1,259
Total proven 
and probable                         2,117                        3,500                        5,617

(1) Mineral reserves are based on measured and indicated mineral resources. 
(2) Gold price of $1,200 (U.S.) per ounce used for Los Filos, Fazenda Brasileiro, Pilar underground 
mines; $1,250 (U.S.) per ounce for Santa Luz and RDM; $1,300 (U.S.) per ounce for Tres Buracos 
open-pit at Pilar.
(3) Tonnage and grade measurements are in metric units. Contained gold ounces are reported as 
troy ounces.
(4) Summation errors may be present due to rounding.
(5) Los Filos mine: The qualified person for mineral reserves is Rodolfo Balderrama Neder 
(Administracion Los Filos, SAPI de CV, a wholly owned subsidiary of the company, mine operations 
manager).                                                                                        
(6) Riacho dos Machados mine: The June, 2017, mineral reserve was depleted to Dec. 31, 2017, 
production pit topography. The qualified person for mineral reserves for the Riacho dos 
Machados mine is Stuart Collins, PE, SME registered member (formerly director of mine 
engineering and strategic development, Brio Gold).
(7) Fazenda Brasileiro mine: The end-of-year 2016 mineral reserve was depleted to EOY 2017 based 
on production records. The qualified person for mineral reserves for the Fazenda Brasileiro mine 
is Mr. Collins, PE, SME registered member (formerly director of mine engineering and strategic 
development, Brio Gold).
(8) Pilar mine: The EOY 2016 mineral reserve was depleted by EOY 2017 based on production stope 
topography; and includes a Jan. 29, 2018, reserve update to the Tres Buracos open-pit project. 
The qualified person for mineral reserves for the Pilar mine is Mr. Collins, PE, SME registered 
member (formerly director of mine engineering and strategic development, Brio Gold).
(9) Santa Luz project: The qualified person for mineral reserves for the Santa Luz project is 
Mr. Collins, PE, SME registered member (formerly director of mine engineering and strategic 
development, Brio Gold).

            LEAGOLD MEASURED AND INDICATED MINERAL RESOURCES, EFFECTIVE DATE OF DEC. 31, 2017

                                    Measured                     Indicated                        M and I
                                   Contained                     Contained                      Contained
Mine              Tonnes   Grade        gold    Tonnes   Grade        gold    Tonnes   Grade         gold
                     (kt)   (g/t)       (koz)      (kt)   (g/t)       (koz)      (kt)   (g/t)        (koz)

Los Filos         59,119    0.90       1,709   321,482    0.94       9,751   380,602    0.94       11,459
Riacho dos 
Machados           7,225    0.77         180    28,324    1.12       1,022    35,548    1.05        1,202
Fazenda 
Brasileiro         5,863    2.61         491     2,358    1.87         142     8,221    2.40          633
Pilar              2,523    3.04         247    14,461    1.86         866    16,984    2.04        1,113
Santa Luz         29,900    1.40       1,343     9,700    1.96         611    39,600    1.53        1,954
Total M and I                          3,970                        12,391                         16,360

LEAGOLD INFERRED MINERAL RESOURCES, EFFECTIVE DATE OF DEC. 31, 2017
 
Mine                   Tonnes   Grade   Contained gold
                          (kt)   (g/t)            (koz)

Los Filos             240,469    0.74            5,739
Riacho dos Machados    10,024    1.32              426
Fazenda Brasileiro      2,551    1.91              156
Pilar                  19,754    3.28            2,085
Santa Luz               7,300    2.08              489
Total inferred                                   8,895

(1) Mineral resources are inclusive of mineral reserves.
(2) No dilution or recovery is applied to mineral resources 
reported for Los Filos. Mineral reserves for Fazenda 
Brasileiro, RDM, Pilar and Santa Luz include dilution and 
mining recovery factors.   
(3) Gold price of $1,400 (U.S.) per ounce used for Los Filos; 
$1,500 (U.S.) per ounce for RDM, Fazenda Braileiro, Pilar, 
Santa Luz.
(4) Tonnage and grade measurements are in metric units. 
Contained gold ounces are reported as troy ounces.
(5) Summation errors may be present due to rounding.
(6) Los Filos mine: The qualified persons for mineral resources 
are Dr. Gilles Arseneau (associate consultant with SRK 
Consulting (Canada) Inc., and independent of the company) for 
Los Filos open pit, Bermejal open pit and Bermejal underground, 
and Doug Reddy (Leagold, senior vice-president, technical 
services) for Los Filos underground mine.
(7) Riacho dos Machados mine: The qualified persons for mineral 
resources are Emerson Ricardo Re, MSc, AusIMM CP Geo, registered 
member of the Chilean Mining Commission (Leagold, corporate 
director of mineral resources), and Jorge Augusto Basilio 
Fernandes, AusIMM CP Geo (Leagold, mineral resources 
co-ordinator).
(8) Fazenda Brasileiro mine: The qualified persons for mineral 
resources are Mr. Ricardo Re, MSc, AusIMM CP Geo, registered 
member of the Chilean Mining Commission (Leagold, corporate 
director of mineral resources) and Carlos Henrique Barbosa Pires, 
AusIMM CP Geo (Leagold, mineral resources co-ordinator).
(9) Pilar mine: The qualified persons for mineral resources are 
Mr. Ricardo Re, MSc, AusIMM CP Geo, registered member of the 
Chilean Mining Commission (Leagold, corporate director of mineral 
resources) and Mr. Basilio Fernandes, AusIMM CP Geo (Leagold, 
mineral resources co-ordinator).
(10) Santa Luz: The qualified person for mineral resources is 
Mark Mathisen, CPG-11648 SME registered member, senior geologist, 
Roscoe Postle Associates.

Source of technical information

The mineral reserves and mineral resources for the Los Filos mine are derived from a report titled, "Technical Report for Los Filos Gold Mine, Guerrero State, Mexico," prepared for Leagold by Mr. Reddy (Leagold, senior vice-president, technical services), Mr. Balderrama Neder (Administracion Los Filos, SAPI de CV, a wholly owned subsidiary of the company, mine operations manager), Paul Sterling (consultant to Leagold), and Dr. Arseneau (associate consultant with SRK Consulting (Canada), and independent of the company), each of whom is a qualified person as that term is defined in National Instrument 43-101.

The mineral reserves and mineral resources for the Riacho dos Machados mine, Fazenda Brasileiro mine, Pilar mine and the Santa Luz project are based on the previous disclosure by Brio Gold with depletion of mineral reserves and mineral resources as disclosed to Dec. 31, 2017. The technical reports filed by Brio Gold Inc. are as follows:

• Riacho dos Machados mine titled, "Technical Report on the Riacho dos Machados Gold Mine, Minas Gerais, Brazil," with an effective date of Dec. 16, 2015, prepared by Kathleen Ann Altman, PhD, PE, Mr. Collins, PE, and Mr. Mathisen, CPG.
• Fazenda Brasileiro mine titled, "Technical Report on the Fazenda Brasileiro Mine, Bahia State, Brazil," with an effective date of May 12, 2016, prepared by Chester Moore, PEng, Robert Michaud, PEng, and Andrew Hampton, PEng.
• Pilar mine titled, "Technical Report on the Pilar Operations, Goias State, Brazil," with an effective date of May 12, 2016, prepared by Mr. Moore, PEng, Mr. Michaud, PEng, and Mr. Hampton, PEng.
• Santa Luz project titled, "Technical Report on the Santa Luz Project, Bahia State, Brazil," with an effective date of June 30, 2017, prepared by Mr. Collins, PE, Mr. Mathisen, CPG, Hugo Miranda, MBA, ChMC (RM), Mr. Michaud, PEng, Richard Addison, PEng.

These reports were reviewed by Mr. Reddy and Kelly Boychuk (Leagold, vice-president, technical services) as qualified persons on behalf of Leagold and consider that, to the best of the Leagold's knowledge, information, and belief, there is no new material scientific or technical information that would make the disclosure of the mineral resources, mineral reserves or results of a preliminary economic assessment inaccurate or misleading.

About Leagold Mining Corp.

Leagold is building a mid-tier gold producer with a focus on opportunities in Latin America. The company is based in Vancouver, Canada, and owns four operating gold mines in Mexico and Brazil, along with a near-term gold mine restart project in Brazil.

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