An anonymous director reports

AUSTRAL GOLD LIMITED DISCLOSES HOLDINGS IN GOLDROCK MINES CORP.

Austral Gold Ltd., between June 23 and June 24, 2016, received confirmation of the sale by Austral Argentina SA, a wholly owned subsidiary of Austral, of an aggregate of 9,248,000 common shares of Goldrock Mines Corp. in trades executed through the facilities of the TSX Venture Exchange. The shares were sold at an average price of $1.05 per share, for gross proceeds of $9,727,845.28.

Immediately prior to the transactions, Austral owned, directly or indirectly, 11.56 million common shares of Goldrock, or approximately 11.14 per cent of the issued and outstanding Goldrock shares. Following the transactions, Austral owns 2,312,000 Goldrock shares, or approximately 2.23 per cent of the issued and outstanding Goldrock shares.

The shares were sold by Austral for investment purposes. Austral may sell additional Goldrock shares from time to time in one or more transactions in its discretion based on market conditions and other factors that it deems relevant. No assurances can be made as to the timing of any sale by Austral of Goldrock shares, or that any such transaction will occur at all.

This news release is being disseminated as required by National Instrument 62-103 -- the early warning system and related takeover bids and insider reporting issues in connection with the anticipated filing of an early warning report within the prescribed period. A copy of the early warning report will be available on SEDAR under Goldrock's issuer profile.