VANCOUVER, June 18, 2018 /CNW/ - Golden Reign Resources
Ltd. (TSX-V: GRR) ("Golden Reign"), Marlin Gold Mining Ltd. ("Marlin") and Sailfish Royalty Co rp.
("Sailfish") are pleased to announce that they have entered into an agreement to extend the termination date of the previously
announced non-binding letter of intent (the "LOI") regarding the business combination of Golden Reign's wholly-owned San
Albino-Murra Property in Nueva Segovia, Nicaragua and Marlin's La
Trinidad Mine in Sinaloa, Mexico (see joint press release dated May 14,
2018). The LOI will now terminate on the earlier of (a) June 29, 2018, (b) entering into of
the definitive arrangement agreement in connection with the business combination, and (c) such other date as may be mutually
agreed by the parties in writing. All other terms of the LOI remain in full force and effect, unamended.
About Golden Reign:
Golden Reign Resources Ltd. is a publicly listed (TSX-V: GRR) mineral exploration company engaged in exploring the San
Albino-Murra Property and the El Jicaro Property, both of which are located in Nueva Segovia,
Nicaragua. The company's prime objective is to bring its San Albino Gold Deposit into
production quickly and efficiently, building cash flow to further advance a number of its other prospective exploration targets.
The Company's land package comprises 13,771 hectares (138 km2) of prospective ground for gold and silver mineralization.
Hundreds of historical mines and workings exist within the Corona de Oro Gold Belt, which is approximately 3 kilometres wide by
20 kilometres long and is spanned by the company's land package. For additional information please visit our website at www.goldenreign.com and SEDAR www.sedar.com.
About Marlin Gold
Marlin is a growth-oriented gold and silver mining company focused on the Americas. The company owns three properties located
in Mexico and the USA and a portfolio of royalties. Marlin's
priority is to profitably operate its La Trinidad Mine, conduct further exploration on its other projects and enhance shareholder
value through a strategic relationship with Sailfish Royalty Corp.. Marlin is backed by a well-funded investor with a successful
track record in the resources sector. The La Trinidad Mine in Sinaloa, Mexico declared
commercial production on November 1, 2014 and is one of the highest grade open pit heap leach gold
mines in Mexico.
About Sailfish Royalty
Sailfish is a yield-focussed royalty company. Sailfish owns the TZ Royalty, which is a 3.5% royalty on revenues derived
from the sale of gold on Eldorado Gold Corp.'s advanced stage Tocantinzinho gold project, and also holds a gold stream agreement
on the San Albino gold project in Northern Nicaragua.
Forward-Looking Statements: Some of the statements contained herein may be considered "forward-looking
information" within the meaning of applicable securities laws. Forward-looking information is based on certain expectations and
assumption that are considered reasonable at the time, however undue reliance should not be placed on the forward looking
information as the companies can give no assurance that they will provide to be correct. As forward-looking statements address
anticipated future events and conditions, such forward-looking information is subject to a variety of risks and uncertainties
which could cause actual events or results to differ materially from those reflected in the forward-looking information,
including, without limitation, the risk that a Definitive Agreement is not reached and the LOI is terminated and other risks and
uncertainties including those discussed in each company's disclosure documents which can be found under each company's profile at
www.sedar.com. None of Golden Reign, Marlin or Sailfish undertakes any
obligation to revise or update any forward-looking information set forth herein, except as may be required by law.
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.
SOURCE Golden Reign Resources Ltd.
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