Manado Closes Oversubscribed Private Placement Offering

Vancouver, BC / TheNewswire /June 16, 2015 Manado Gold Corp. (TSX-V: MDO) (the "Company") announces that it has closed its previously announced private placement offering (the "Offering") to existing shareholders (see news releases dated March 27, 2015, April 7, 2015 and April 15, 2015) by issuing 30,100,500 units at a price $0.01 per unit for total proceeds of $301,005. Each unit issued under the Offering consists of one common share of the Company and one common share purchase warrant, with each warrant entitling the holder to purchase an additional common share at $0.05 per share for a three-year period from the date of issuance.

The Company plans to use the proceeds of the Offering for the following purposes:

• -TSX Continued Listing Fees - $5,460.

  -Exploration Program on the Clisbako Property - $82,500.

  -Exploration Program on the Company's Takla Property - $35,000.

  -Accounts Payable:

  • -Auditor - $18,663;

    -Legal - $20,110;

    -Transfer Agent - $2,201; and

    -Former Director and Qualified Person - $6,000.

  -Management Fees Owed:

  • -Logan B. Anderson, CEO - $15,000; and

    -Donald Archibald, CFO - $3,000.

  -Director Fees Owed:

  • -Logan Anderson - $3,000;

    -Donald Archibald - $3,000;

    -David Ryan - $3,000;

    -Sean O'Neill - $3,000; and

    -Shawn Clarkin - $3,000.

  -Unallocated Financing Proceeds for Continued Operations - $98,071.

The Offering was oversubscribed by $38,257.99 and the Company determined to accept the oversubscriptions. The securities issued under the private placement will be subject to a hold period expiring on October 17, 2015 pursuant to applicable Canadian securities laws and the rules of the TSX Venture Exchange.

Manado Gold Corp.

Logan Anderson

President

For further information, please contact:
Logan Anderson or Dave Ryan
Phone: (604) 685-4745
Email: info@manadogold.com,

Neither 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.

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