Mr. Shawn Khunkhun reports

STRIKEPOINT GOLD INC. ANNOUNCES $3 MILLION PRIVATE PLACEMENT

Strikepoint Gold Inc. has arranged a $3-million non-brokered private placement consisting of 6,779,664 flow-through (FT) shares at an issuance price of 29.5 cents per FT share for total proceeds of $2-million and 3,389,000 non-flow-through (NFT) units at a price of 29.5 cents per NFT unit for total proceed of $1-million. Each NFT unit will consist of one non-flow-through common share and one non-flow-through share purchase warrant, with each warrant being exercisable at a price of 50 cents for a period of two years from closing.

The company further announces that, concurrent with this announcement, it has closed on the 6,779,664 FT shares for total proceeds of $2-million. The FT shares will be subject to a hold period expiring on July 24, 2017. Finder's fees of $140,000 cash and 474,576 finder's warrants will be paid to Medalist Capital Ltd. in connection with this closing. The finder's warrants will have an exercise term of two years from issuance with an exercise price of 29.5 cents and be subject to a holder period expiring on July 24, 2017.

It is anticipated that a 7 per cent finder's fee, payable in cash and warrants, will be paid in connection with the balance of the financing.

The proceeds from the issuance of the FT shares will be used to incur Canadian exploration expenses on the company's gold projects located in Yukon, and the proceeds from the NFT units will be used by the company for general working capital.

It is anticipated that the closing of the $1-million NFT units will be on or before March 31, 2017.

The private placement is subject to approval of the TSX Venture Exchange.