Toronto, Ontario--(Newsfile Corp. - February 12, 2018) - McLaren Resources Inc. (CSE: MCL) (FSE: 3ML) (OTC: MLNRF) ("McLaren" or
the "Company") announces that it has closed a non-brokered private placement financing consisting of common share units for
aggregated gross proceeds of $427,500.
The Company has issued a total of 3,420,000 common share units at a price of $0.125 per unit. Each common share unit consists of
one common share and one common share purchase warrant which entitles the holder to purchase one common share in the capital of the
Company at an exercise price of $0.15 per share for a period of 18 months from the date of issuance. McLaren shall have the right
to accelerate the exercise of the warrants if McLaren shares trade at a weighted average price exceeding $0.25 per share for 20
consecutive trading days.
The net proceeds from the financing will be used by the Company for general corporate purposes and for expenditures on its
blockchain development project.
In connection with the financing, McLaren paid finder's fees consisting of $10,325 in cash.
The Company has also issued 350,000 common shares at a deemed price of $0.125 per share for $43,750 of services to the
Company.
About McLaren
In addition to the new blockchain development initiative which is to be operated in a new subsidiary corporation, McLaren
remains engaged in exploration work on its three gold properties which are located in the prolific Timmins Gold District of
Northeastern Ontario. These properties include the Augdome Gold Property (control a 100% interest) located adjacent to the Dome
Mine operated by Goldcorp Inc. ("Goldcorp"), the TimGinn Gold Property (right to earn from 50% to 100% interest) located in Central
Timmins adjacent to the Hollinger Mine operated by Goldcorp and the Blue Quartz Gold Mine Property (50% interest) located in East
Timmins 10 km north of McEwen Mining's Black Fox Mine.
For more information, please contact: Radovan Danilovsky, Interim President, Phone: 416-203-6784
MCLAREN RESOURCES INC.
44 Victoria Street, Suite 1616
Toronto, Ontario M5C 1Y2
The Canadian Securities Exchange has neither approved nor disapproved the contents of the press release. The Canadian
Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Certain statements contained in this news release constitute "forward looking statements". When used in this document, the
words "anticipated", "expect", "estimated", "forecast", "planned", and similar expressions are intended to identify forward looking
statements or information. These statements are based on current expectations of management; however, they are subject to known and
unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking
statements in this news release. Readers are cautioned not to place undue reliance on these statements. McLaren Resources Inc. does
not undertake any obligation to revise or update any forward-looking statements as a result of new information, future events or
otherwise after the date hereof, except as required by securities laws.
