An anonymous director of Wexford reports

WEXFORD UPDATES DISCLOSURE OF OWNERSHIP OF MARLIN GOLD MINING LTD.

Wexford Capital LP's Wexford Spectrum Trading Limited and Wexford Catalyst Trading Limited -- two private investment funds managed by Wexford -- have acquired ownership of an aggregate of 15,625,000 common shares of Marlin Gold Mining Ltd., representing 17.09 per cent of Marlin Gold's issued and outstanding common shares. The acquired shares were acquired at a price of 56 cents per acquired share, for aggregate gross proceeds paid to Marlin Gold of $8.75-million. The Wexford funds acquired the acquired shares by way of a non-brokered private placement equity financing by Marlin Gold pursuant to Section 3 of BC Instrument 72-503, Distribution of Securities Outside of British Columbia.

Following the offering, the Wexford Funds beneficially own, directly or indirectly, 74,628,682 shares, representing approximately 81.63 per cent of Marlin Gold's shares. Immediately prior to the completion of the offering, the Wexford funds owned, directly or indirectly, 59,003,682 shares representing approximately 64.54 per cent of Marlin Gold's shares. The Wexford funds acquired the acquired shares for investment purposes. The Wexford funds may from time to time acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold the securities of Marlin Gold.

In accordance with applicable law, the acquired shares will be subject to a four-month hold period commencing on May 20, 2015.

For further information and to obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the offering, please see Marlin Gold's profile on the SEDAR website.