Mr. Dana Prince reports

MIRASOL RESOURCES SUCCESSFULLY COMPLETES A RIGHTS OFFERING

Mirasol Resources Ltd. has completed its rights offering, which was announced on Aug. 10, 2016, and expired at 5 p.m. (PDT) on Sept. 19, 2016. The shareholders of Mirasol exercised rights, and the standby guarantors purchased shares, resulting in the issue of a total 4,166,667 common shares. The shares issued pursuant to the rights offering were issued at $2.40 per share for gross proceeds of $10-million. Following closing of the rights offering, there were a total of 49,021,828 common shares of the company issued and outstanding.

The number of shares issued pursuant to the basic subscription privilege was 2,323,938 shares. Of these, 1,200,521 shares were issued to insiders, and 1,123,417 shares were issued to other shareholders. A total of 1,055,081 shares were issued pursuant to the additional subscription privilege. Of these, 29,050 shares were issued to insiders, and 1,026,031 shares were issued to other shareholders.

A total of 787,648 shares were issued to a group of guarantors led by John Tognetti, including Exploration Capital Partners 2005 Limited Partnership, Carlo Civelli, EuroPac Gold Fund and Paul Lee (the standby guarantors) pursuant to the standby guarantee agreement entered into on Aug. 9, 2016. In consideration for the standby agreement, the standby guarantors were issued share purchase warrants to purchase 500,000 common shares of the company at a price of $2.40 per share until March 23, 2017. No fees or commissions were paid in connection with the rights offering other than the issue of the bonus warrants and the company's obligation to pay the standby guarantors' expenses in connection with negotiating the standby agreement to a maximum of $10,000. Mr. Tognetti is a director and the controlling shareholder of the company.

Mirasol intends to use the proceeds of the rights offering for working capital. Following closing of the rights offering, Mirasol's cash reserves were approximately $27.2-million.

We seek Safe Harbor.