Samco Announces Further Extension of Agreement to Acquire Dino Polymetallic (Zinc, Lead, Silver) Property in Peru

TORONTO, ONTARIO--(Marketwired - Jun 1, 2015) - Samco Gold Ltd. (TSX VENTURE:SGA) ("Samco" or the "Company") announces a further extension of the share purchase agreement (the "SPA") with Mantaro Resources Limited ("Mantaro") for the acquisition of all the issued and outstanding shares of Samco Minerals S.A. and Cia Dorita MA S.A.C., Mantaro's wholly-owned Peruvian subsidiaries (collectively the "Mantaro Subsidiaries"). The Mantaro Subsidiaries hold certain exploration and mining concessions over the Dino polymetallic property located in Peru (the "Dino Property"). The SPA now terminates on June 30, 2015 if the acquisition in not completed by such date. For more information on the SPA, see the Company's December 12, 2014 news release. For more information on the Dino Property, see the Company's December 18, 2014 news release and the Technical Report on the Dino Property posted under the Company's profile at www.sedar.com on February 3, 2015.

About Samco Gold Limited

Samco Gold's principal business has been the acquisition, exploration and development of precious metals resource properties in Argentina and the region. The Company's principal mineral property in Argentina is the El Dorado Monserrat ("EDM") epithermal gold project, located in the Deseado Massif region of Santa Cruz Province. With an experienced board and management team including a strong Argentinean complement, the Company's goal remains to become an Argentinean producer of gold and silver through the exploration and development of EDM. Samco Gold also owns a portfolio of other mineral exploration properties in the Deseado Massif, the most notable of which is the Corina property.

By virtue of the SPA, Samco Gold proposes to extend its principal business activities into Peru with the intention of becoming a Peruvian producer of zinc, lead and silver through the exploration and development of the Dino Property.

Additional details on the Company are available on SEDAR (www.sedar.com).

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

FORWARD LOOKING STATEMENTS

This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, assumptions, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, completion of the SPA, the obtaining of the necessary financing and regulatory and shareholder approvals, as required, under the SPA, including any administrative or government approvals; changes in project parameters as plans continue to be refined; future prices of gold, zinc and other metals; future exploration results at the EDM, Corina and/or Dino properties; the reliability of historical information; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in Samco Gold's disclosure documents publicly available under the Company's profile on the SEDAR website at www.sedar.com. Although Samco Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not intend, and does not assume any obligations, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws.

Contact

Samco Gold Ltd.
Charles Koppel
Executive Chairman and Chief Executive Officer
+44 (0) 20 7647 2532
ck@samcogold.com
Bell Pottinger
Daniel Thole
Marianna Bowes
Financial Communications
+44 (0) 20 3772 2555