Compass Gold Corporation Closes Shares for Debt

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 16, 2017) -

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Compass Gold Corporation (TSX VENTURE:CVB) (the "Company") is pleased to report that it has received TSX Venture Exchange approval for and closed its previously announced shares for debt transaction.

The Company issued a total of 1,904,761 units, at a deemed price of $0.0525 per unit ("Units"), to satisfy debt in the amount of $100,000. Each Unit is comprised of one common share of the Company and one transferable common share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the Company at a price of $0.07 per share until May 15, 2018.

All securities issued or issuable under the shares for debt will be subject to a four month and a day hold period in Canada expiring on September 16, 2017, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside of Canada.

In addition, the Company also announces the resignation of Darren Devine as the Corporate Secretary of the Company and the appointment of Danica Topolewski as its new Corporate Secretary.

ON BEHALF OF THE BOARD OF COMPASS GOLD CORPORATION

James Henderson, Chairman

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