ML Gold Closing of Oversubscribed Financing

ML Gold Corp. (TSXV: MLG) (FSE: XOVN.F) (“ML Gold” or the “Company”) is pleased to announce the closing of its previously announced non-brokered private placement (the “Private Placement”) announced November 22nd.

Proceeds of the closing of the Private Placement were $1,296,830. The Private Placement consisted of the issuance of 5,841,600 non flow-through units (the “NFT Units”) at a price of $0.10 per NFT Unit and 5,482,077 flow-through units (the “FT Units”) at $0.13 per FT Unit.

Each NFT Unit at $0.10 is comprised of one common share in the capital of the Company (each, an “NFT Share”) and one full non-transferable share purchase warrant (the “NFT Warrants”). Each NFT Warrant is exercisable into one common share at a price of $0.15 for a period of two years.

Each FT Unit at $0.13 is comprised of one flow-through common share (an “FT Shares”) and one half of one non-transferable share purchase warrant (the “FT Unit Warrants”). Each full FT Unit Warrant is exercisable into one NFT Share at a price of $0.18 for a period of two years.

The NFT Shares and FT Shares, including any NFT Shares issuable upon exercise of FT Warrants and NFT Warrants, all are subject to a hold period expiring on April 30, 2018.

The Private Placement had been originally announced as being comprised of 3,500,000 NFT Units and 5,000,000 FT Units for total proceeds of $1,000,000. The closing numbers today reflect an increase of 2,341,600 NFT Units and 482,077 FT Units. The prices of all units and the exercise price of all warrants remains unchanged from the first announcement.

A total of $18,188.10, in cash, and 150,570 broker warrants we issued as finder’s fees on the Private Placement.

The net proceeds from the Private Placement will be used for general working capital purposes and exploration of the Company’s Stars Property.

ABOUT ML GOLD CORP.

ML Gold Corp. is a Canadian listed Company, focused on creating shareholder value through discoveries and strategic development of mineral properties in Canada and the United States.

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