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File: 2016.08.24_NR_Announcing_Closing.pdf

                            250-1199 WEST HASTINGS ST.
                            VANCOUVER, B.C. V6E 3T5 CANADA
                            T. 604-646-1580 F. 604-642-2411
                            WWW.MARLINGOLD.COM
                                                                                                           TSX.V: MLN
Marlin Gold Closes Previously Announced Brokered Private Placement and Concurrent Non-Brokered
Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN
PART, IN OR INTO THE UNITED STATES

August 24, 2016- Vancouver, British Columbia -- Marlin Gold Mining Ltd. (TSX-V: MLN) ("Marlin" or the
"Company") is pleased to announce that it has completed its previously announced bought deal
brokered private placement of common shares (the "Brokered Offering") with Red Cloud Klondike Strike
Inc. (the "Underwriter"). The Company sold 2,430,000 common shares ("Shares"), including 430,000
pursuant to the partial exercise by the Underwriter of its over-allotment option, at a price per Share of
$0.50 for gross proceeds of $1,215,000.

In addition to the Brokered Offering, Marlin also accepted, on a non-brokered basis, a subscription for
600,000 Shares at a price per Share of $0.50 for gross proceeds of $300,000 (the "Non-Brokered
Offering", together with the Brokered Offering, the "Private Placement").

In connection with the Brokered Offering, the Underwriter received a cash commission equal to 7.0% of
the gross proceeds raised under the Brokered Offering, excluding gross proceeds from the sale of Shares
to insiders and certain President's List subscribers. In connection with the Non-Brokered Offering a
finder's fee equal to 7.0% of the gross proceeds raised from the Non-Brokered Offering was paid to PI
Financial Corp. Net proceeds of the Private Placement will be used to advance drilling and development
of the Commonwealth Silver and Gold Project and for general corporate purposes.

Four insiders of the Company subscribed for a total of 1,250,000 Shares, for aggregate subscription
proceeds of $625,000, each constituting a "related party transaction" as such term is defined under
Multilateral Instrument 61-101   Protection of Minority Security Holders in Special Transactions ("MI
61-101). The Company is relying on the exemptions from the formal valuation and minority approval
requirements found in sections 5.5(a) and section 5.7(1)(a) of MI 61-101 as the fair market value of the
transaction, insofar as it involves interested parties, is not more than the 25% of the Company's market
capitalization.

All Shares issued in connection with the Brokered Offering and Non-Brokered Offering will be subject to
a hold period in Canada of four months and one day from the date of issuance.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities to, or for the account or benefit of, persons in the United States or "U.S. persons" ("U.S.
Persons"), as such term is defined in Regulation S under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act"). The securities have not been and will not be registered under the
U.S. Securities Act or any state securities laws, and may not be offered or sold to, or for the account or
benefit of, persons in the United States or U.S. Persons unless registered under the U.S. Securities Act
and applicable state securities laws or an exemption from such registration is available.
                                                            - 2-



About Marlin Gold

Marlin is a publicly-traded gold and silver mining company with properties located in Sinaloa, Mexico and
Arizona, USA. Marlin's priority is to advance its properties toward commercial production and enhance
shareholder value through the growth of its wholly-owned subsidiary, Sailfish Royalty Corp. The La Trinidad
property in Sinaloa, Mexico, declared commercial production on November 1, 2014. A NI 43-101 mineral
resource estimate and preliminary economic assessment for the La Trinidad mine and Commonwealth
project can be found at www.sedar.com or at www.marlingold.com.

For further information contact:
Akiba Leisman, Executive Chairman and Interim CEO
Marlin Gold Mining Ltd.
Telephone: 203-862-7059
E-mail: aleisman@marlingold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary statement regarding forwardlooking information
This news release contains 'forward-looking statements' within the meaning of applicable securities laws.
Forward-looking statements are statements that are not historical facts and are generally, but not always,
identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects,
assumes, potential and similar expressions. Forward-looking statements also include reference to events or
conditions that will, would, may, could or should occur, including, without limitation, the intended use of
proceeds. These forward-looking statements are necessarily based upon a number of estimates and
assumptions that, while based on management's expectations and considered reasonable at the time they are
made, are inherently subject to a variety of risks and uncertainties which could cause actual events or results
to differ materially from those reflected in the forward-looking statements, including, without limitation: the
risk that the anticipated effects of the equity financing may not result in the outcomes predicted by
management, uncertainties related to raising sufficient financing to fund planned work in a timely manner
and on acceptable terms; changes in planned work resulting from logistical, technical or other factors; the
possibility that results of work will not fulfill projections/expectations and realize the perceived potential of
the Company's projects; uncertainties involved in the interpretation of drilling results and other tests and the
estimation of gold resources; risk of accidents, equipment breakdowns and labour disputes or other
unanticipated difficulties or interruptions; the possibility of environmental issues at the Company's projects;
the possibility of cost overruns or unanticipated expenses in work programs; the need to obtain permits and
comply with environmental laws and regulations and other government requirements; fluctuations in the
price of gold and other risks and uncertainties, including those described in the Company's current Annual
Information Form filed on SEDAR at www.sedar.com. As a result, readers are cautioned not to place undue
reliance on these forward-looking statements. The forward-looking statements contained in this news release
are made as of the date of this release. Unless required by law, Marlin has no intention to and assumes no
obligation to update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise.

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