TSX-V: GMN

TORONTO, Jan. 21, 2016 /CNW/ - (TSXV: GMN) GobiMin Inc. (the "Company" or "GobiMin") announces that it proposes to extend into 2016 its normal course issuer bid (the "Bid") subject to approval of the TSX Venture Exchange ("TSXV") and has filed a further Notice of Intention to Make a Normal Course Issuer Bid with the TSXV.

Under the Bid in 2016, a total of up to 2,627,324 common shares may be purchased through the facilities of the TSXV and any such purchases will be at market prices. The Bid will commence on or after February 12, 2016 and will end on February 11, 2017 or on such earlier date as GobiMin may complete its purchases pursuant to the Bid or as it may otherwise determine.

GobiMin is continuing to engage in the Bid because it believes that the market price of its common shares does not properly reflect its underlying value. Purchases pursuant to the Bid will be conducted through Desjardins Securities Inc. Under the Bid in 2015, GobiMin has purchased 2,765,500 common shares to date at an average price of CAD$0.4615 for cancellation.

"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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SOURCE GobiMin Inc.