MAS Gold Corp. Announces Closing of First Tranche of the Combined Flow-Through and Hard Dollar Private Placements

/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES/

VANCOUVER, April 3, 2019 - MAS Gold Corp. ("MAS Gold" – TSX-V: MAS) announces that it closed the first tranche of its previously announced non-brokered private placement through the issuance of 1,783,333 Units at the price of 0.12 per Unit and 500,000 Flow-Through Units (FT Units) at the price of 0.12 per FT Unit for the total of gross proceeds of $ 273,999.96.

Closing of the Offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable security legislation.

As previously reported, the Private placement comprises of Flow-Through shares and Hard Dollars units for aggregate gross proceeds of up to $1,000,000.

The Flow-Through portion of the offering is intended to raise proceeds of up to $700,000 at a price of $0.12 per Flow-Through common share.

The Hard Dollar units portion of the private placement, is intended to raise proceeds of up to $300,000 at $0.12 per Hard Dollar unit; each unit comprised of one common share and half a share purchase warrant.  Each whole share purchase warrant will entitle the holder to purchase one additional MAS Gold common share at a warrant exercise price of $0.15 per common share for a period of 24 months from the date of issue.

This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, "U.S. persons," as such term is defined in Regulation S under the U.S. Securities Act, unless an exemption from such registration is available.

About MAS Gold Corp.

MAS Gold Corp. (formerly Masuparia Gold Corporation) is a Canadian mineral exploration company focused on exploration projects in the prospective La Ronge Greenstone Belt of Saskatchewan, Canada. In the Fraser Institute Survey of Mining Companies for 2018, Saskatchewan ranked 3rd in the world for its Investment Attractiveness Index which rates jurisdictions based on their geologic attractiveness and the effects of government policy on attitudes toward exploration investment. MAS Gold's Saskatchewan projects include the advanced-stage Greywacke deposit, which hosts high-grade gold-bearing zones with a National Instrument 43-101 compliant (at a cut-off grade of 5 grams gold/tonne) Indicated Mineral Resource of 255,500 tonnes at 9.92 grams gold/tonne plus an Inferred Mineral Resource of 59,130 tonnes at 7.42 grams gold/tonne. MAS Gold's NI 43-101 Technical Report of June 1, 2016 concerning the Greywacke gold deposit is available on SEDAR and on MAS Gold's website: http://www.masgoldcorp.com.

On Behalf of the Board of Directors of MAS Gold Corp.
Ronald K. Netolitzky
President & CEO

Caution Regarding Forward-Looking Information and Statements:
This news release includes certain forward-looking statements or information that could cause actual results to differ materially from MAS Gold's plans or expectations. These include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, cost overruns, availability of capital and financing and general economic, market or business conditions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding any updated technical report, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. 

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.

SOURCE MAS Gold Corp.