Mr. Robert Thast reports

NEW CAROLIN COMPLETES PHASE I MAPPING AND SAMPLING AT CAROLIN OUTLINES GOLD TARGETS ALONG A 6 KILOMETRE CORRIDOR

New Carolin Gold Corp. has completed a phase I surface mapping and sampling program. The results of the program outline a consistently mineralized geological environment extending for at least six kilometres, including the Carolin mine which is one of several strongly gold-mineralized targets.

Highlights of this work program include:

• Channel sample results up to 4.08 grams per tonne gold over 9.0 m including 7.45 g/t Au over 4.5 m at the McMaster zone and 1.69 g/t over 4.5 m including 2.46 g/t Au over 1.5 m at the Pipestem mine zone;
• Structural and geological continuity across at least six kilometres of the mapped area. Gold mineralization is associated with shallow northwest-plunging folds within coarse-grained sediments (siltstone, sandstone and wacke);
• Gold mineralization is located proximal to a regional-scale serpentinite sequence which extends for the entire length of the property (over 27 kilometres);

The mapping program was initiated to follow up on historical work programs which identified structures, folding and gold mineralization in several areas across the property. While historical work did not provide a geological link between the zones, the new mapping program indicates a clear relationship between the various zones and will provide targets for future drill programs.

In total, New Carolin has identified numerous areas where gold mineralization of greater than one g/t is present over more than a metre in drill core or trench assays. A summary of significant new and historical results matching these criteria is presented in the attached table.

               HIGHLIGHTED GOLD RESULTS FROM VARIOUS TARGETS ACROSS SIX KILOMETRES OF THE PROPERTY

                                                                                           Best 
Area                  Result type   Gold value (g/t)   Interval   Historic mining   reported assay (g/t)   Collected by

Underground Carolin   Channel sample    4.50(1)         25.5 m         yes               10.2               New Carolin 
Underground Carolin   Drill hole       10.85(2)         21.4 m         yes               57.28 (2)          Historic    
McMaster              Channel           7.45             4.5 m         no                14.2               New Carolin 
Pipestem              Channel           2.46             1.5 m         yes                2.46              New Carolin 
Pipestem              Drill hole       34.46(3)          2.1 m         yes               37.75 (3)          Historic    

(1) Metallic screen assay from 2016 exploration.
  
(2) Historical drilling -- results were included in the current NI 43-101-compliant resource but have not been verified 
    by New Carolin Gold.
  
(3) Historical drilling -- result have not been verified by New Carolin Gold.

Drill program update

To date seven holes have been completed and sent to the laboratory for analysis. All results for these holes are pending. The company plans to complete an additional three holes during this phase of drilling. Once all results are received, reported and compiled the company will make preparations for a phase II drill program.

Underground sampling update

The underground mapping and sampling program is currently halted to allow field crews to focus on the drill program. Once drilling is completed crews will resume mapping and sampling of underground areas.

All samples collected from the drill program will be analyzed by both fire assay and metallic screen procedures. Recent reanalysis of underground channel samples showed up to over 27-per-cent difference between the fire assay and metallic screen results suggesting the presence of a coarse gold component which was not analyzed for in historical work programs (see news release dated Aug. 17, 2016, at the company's website).

"With phase 1 surface sampling and mapping completed, we have a much better understanding of the geological and structural controls associated with gold mineralization. Surface samples taken between the Carolin and Pipestem mines (the six-kilometre strike length ) confirm our initial interpretation of the potential for multiple horizons which will continue to be the focus of future exploration. In respect to 10-hole surface drill program currently under way at the Idaho zone (which hosts the Carolin mine), we look forward receiving and announcing assays over the coming months," stated Robert Thast, chief executive officer.

R. Bob Singh, PGeo, exploration manager, is the qualified person responsible for the technical content of this news release.

We seek Safe Harbor.