Angel Gold Announces Closing of Private Placement

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Vancouver, British Columbia – Angel Gold Corp. (the “Company”) (TSX-V: ANG) announces that it has closed its announced private placement previously announced on October 11, 2016 (the “Financing”), by issuing 3,265,290 units for aggregate gross proceeds of $261,223.20. Each unit was priced at $0.08 per unit and is comprised of one common share of the Company and a one-half share purchase warrant. Each whole share purchase warrant entitles the holder to purchase one additional common share of the Company at a price of $0.16 per share for a period of two years from the date of closing.

The units are subject to a hold period expiring on June 1, 2017. In connection with the private placement, the Company paid, in the aggregate, cash finder’s fees of $8,880 and issued 9,000 units as finder’s fees.

About Angel Gold Corp.:

Angel is a Canada-based gold and silver exploration company focused on responsible development of mineral resources in Colombia, host to some of the world’s largest gold deposits. Angel’s flagship project the El Porvenir is located at less than 2 km from Gran Colombia project, the El Pino West Project is adjacent to Gramalote project, B2Gold and Anglo Gold Ashanti JV, 2.5M oz. discovery and its Heliconia project is located north of the Titiribí district along the Cauca fault system.

Angel has been focused on acquiring and validating strategic mineral exploration opportunities in Colombia’s best mining districts with the highest potential for new discoveries.

Proceeds from the private placement will be used for general working capital and exploration purposes.

On Behalf of the Board of Directors of Angel Gold Corp.

Blanca Stella Frias, Director

President and Chief Executive Officer

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this news release.

For investor relations, please contact:

Stella Frias

+57 321 427 6977

+1 (360) 650 1440

Angel Gold Corp.

#545 – 999 Canada Place

Vancouver, BC, V6C 3E1

Tel: 604-684-6264

Fax: 604-684-6242

The TSX Venture Exchange has not reviewed the content of this News Release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this News Release. This news release contains certain “forward- looking statements” within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward- looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward looking statements. The reader is cautioned not to place undue reliance on forward-looking statements. The transaction described in this News Release is subject to a variety of conditions and risks which include but are not limited to: regulatory approval, shareholder approval, market conditions, legal due diligence for claim validity, financing, political risk, security risks at the property locations and other risks. As such, the reader is cautioned that there can be no guarantee that this transaction will complete as described in this News Release. We seek safe harbour.

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