VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 16, 2017) - Orca Gold Inc. (TSX
VENTURE:ORG) ("Orca" or the "Company") is pleased to communicate that on January 13, 2017, President Obama signed an
Executive Order "Recognizing Positive Actions by the Government of Sudan and Providing for the Revocation of Certain
Sudan-Related Sanctions."1
The full text of the release from the U.S. Treasury Department can be found via the link at the bottom of this press release.
Under the Order, which will come into effect on July 12, 2017, U.S. persons will be able to transact business with individuals
and entities in Sudan, and property of the Government of Sudan subject to U.S. jurisdiction will be unblocked.
"This announcement by the U.S. Government is a huge step for Sudan on its path towards political and economic
re-integration with the West. The Government of the Sudan is to be congratulated for its efforts in working towards international
acceptance and social and economic improvement for its people. We at Orca are pleased and excited to be part of that program of
improvement," Orca's CEO and Director, Richard Clark, commented. "This move by the U.S. significantly changes the financial
landscape for the development of our 2.2 million ounce gold project at Block 14. We look forward to introducing our company to
investors that up to this point have been restricted in investing in Orca and Sudan."
About Orca Gold Inc.
Orca Gold Inc. (TSX VENTURE:ORG) is a Canadian resource company focused on exploration and
development opportunities in Africa, where it is currently focused on the development of its 70%-owned Block 14 project in the
Republic of the Sudan. The Company has an experienced board of directors and management team and a strong balance sheet, with a
treasury of $9.5 million at December 2016.
On behalf of the Board of Directors:
Richard P. Clark, CEO and Director
Cautionary Statement Regarding Forward-Looking Information
This press release contains forward-looking information and forward-looking statements within the meaning of applicable
Canadian securities laws, including statements regarding Orca's (the "Company", the "Corporation", "we" or "our") plans and
expectations relating to the Block 14 project ("Block 14") in northern Sudan and the Pre-Feasibility Study ("PFS") currently
being conducted by the Corporation. These statements relate to analyses and other information that are based on forecasts of
future results, estimates of amounts not yet determinable and assumptions of management. Statements concerning mineral resource
estimates may also be deemed to constitute "forward-looking statements" to the extent that they involve estimates of the
mineralization that will be encountered if the property is developed. The assumptions, risk and uncertainties outlined below are
non-exhaustive. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove
incorrect, actual results, performance or achievements of the Corporation, or industry results, may vary materially from those
described in this presentation.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans,
projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such
as "expects", "anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals",
"objectives", "potential", "possible" or variations thereof or stating that certain actions, events, conditions or results "may",
"could", "would", "should", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar
expressions) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements and forward-looking information are not guarantees of future performance and are
based upon a number of estimates and assumptions of management at the date the statements are made including without limitation,
assumptions about the following (the "Forward-Looking Factors"): future prices of gold and other metals; successful exploration,
development, and production of Block 14; the timing and completion of the PFS; performance of contractual obligations by
counterparties; operating conditions; political stability; obtaining governmental approvals and financing on time; financial
projections and budgets; obtaining licenses and permits; government regulation of the Corporation's mining activities;
environmental risks and expenses; market conditions; the securities market; price volatility of the Corporation's securities;
currency exchange rates; foreign mining tax regimes; insurance and uninsured risks; financial projections and results;
competition; availability of sufficient capital, infrastructure, equipment and labour; dependence on key personnel; dependence on
outside parties; conflicts of interest; litigation; land title issues; local community issues; estimation of mineral resources;
realization of mineral resources; timing and amount of estimated future production; the life of Block 14; reclamation
obligations; changes in project parameters as plans continue to be evaluated; and anticipated costs and expenditures and our
ability to achieve the Corporation's goals. While we consider these assumptions to be reasonable, the assumptions are inherently
subject to significant business, social, economic, political, regulatory, competitive and other risks and uncertainties,
contingencies, many of which are based on factors and events that are not within the control of the Corporation and there is no
assurance they will prove to be correct.
Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors
that could cause actual events or results to differ from those reflected in the forward-looking statements, including, without
limitation known and unknown risks, uncertainties and other factors relating to the Forward-Looking Factors above, and those
factors disclosed under the heading "Risk Factors" in the Corporation's documents filed from time to time with the securities
regulators in the provinces of Canada.
In addition, a number of other factors could cause the actual results, performance or achievements of the
Corporation to differ materially from any future results, performance or achievements expressed or implied by the forward-looking
information, and there is no assurance that the actual results, performance or achievements of the Corporation will be consistent
with them. For further details, reference is made to the risk factors discussed or referred to in the Corporation's annual and
interim management's discussion and analyses on file with the Canadian securities regulatory authorities and available
electronically on the SEDAR website at www.sedar.com. Although the Corporation
has attempted to identify important factors that could cause actual actions, events, results, performance or achievements to
differ materially from those described in forward-looking statements and forward-looking information, there may be other factors
that cause actions, events, results, performance or achievements not to be as anticipated, estimated or intended. There can
be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements. Such forward-looking statements and information are made
or given as at the date of this presentation and the Corporation disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future events or otherwise, except as required under
applicable securities law. The reader is cautioned not to place undue reliance on forward-looking statements or
forward-looking information.
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.
1 U.S. Treasury Department (2017). Treasury to Issue General License to Authorize Transactions with
Sudan (Press Release) Retrieved from https://www.treasury.gov/resource-center/sanctions/Programs/Documents/sudan_fact_sheet.pdf