Mr. Charles Koppel reports

SAMCO GOLD CLOSES SALE EL DORADO MONSERRAT PROJECT

Samco Gold Ltd. has obtained all regulatory and shareholder approvals and has closed the previously announced transaction (see Samco news release dated Sept. 13, 2017) to sell all of the shares of its wholly owned Argentinean subsidiary 5R SA to certain shareholders of the company in exchange for, among other things, the return for cancellation of 18.45 million common shares in the capital of Samco owned by such shareholders. 5R SA is the registered titleholder of the El Dorado Monserrat properties in Santa Cruz, Argentina. Samco retains a 1.5-per-cent net smelter return royalty over the EDM properties. As additional consideration for the 5R shares, all employment related Argentinean lawsuits initiated against Samco by certain of the shareholders participating in the subject transaction have been withdrawn, and Samco and such shareholders released each other from all claims. As a result of the transaction, following formal cancellation of the 18.45 million common shares, Samco will have 46,626,075 common shares outstanding on a non-diluted basis.

About Samco Gold Ltd.

Samco's principal business has historically been the acquisition, exploration and development of precious metals properties in Argentina. The company has refocused its business objectives on the acquisition, development and eventual exploitation of mineral properties in various promising geographical locations.

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