WINSTON GOLD CLOSES PRIVATE PLACEMENT AND COMPLETES SALE OF GOLDRIDGE PROJECT

WINSTON GOLD CLOSES PRIVATE PLACEMENT AND COMPLETES SALE OF GOLDRIDGE PROJECT

WINNIPEG, MANITOBA – March 26, 2019 – Winston Gold Corp. (“Winston Gold” or the “Corporation”) (CSE: WGC) (OTCQB: WGMCF) announces the closing of a non-brokered private placement consisting of 21,340,000 units ( the “Units” ) at a purchase price of $0.05 per Unit to raise gross proceeds of $1,067,000.

Each Unit consists of one common share ( a “Share” ) in the share capital of the Company and one share purchase warrant ( a “Warrant” ). Each full Warrant will entitle the holder to purchase one additional Share in the share capital of the Company for a period of 5 years, at an exercise price of $0.10 per Share.

All securities issued in connection with the Private Placement are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation. No finder’s fee was paid in connection with the Private Placement.

The net proceeds from the Private Placement will be used for general corporate purposes and to advance the Winston gold project near Helena Montana.

Winston Gold is also pleased to announce the closing and sale of all the issued and outstanding shares of Winston Gold’s wholly owned subsidiary, Goldridge Holdings Limited,  as per the terms disclosed in the news release of August 3, 2018.

In addition, the board of directors of the Corporation has granted a total 2,900,000 incentive stock options to certain consultants, directors, and employees of the Corporation to purchase a total of 2,900,000 common shares at an exercise price of $0.05. The options expire on March 26, 2024.

About Winston Gold

Winston Gold is a junior mining company focused on advancing high-grade, low cost mining opportunities into production. Towards that end, the Corporation has acquired an underexplored and under-exploited gold/silver mining opportunity, being the Winston Gold project near Helena, Montana.

ON BEHALF OF THE BOARD OF DIRECTORS OF THE CORPORATION

For further information, please contact

Murray Nye, Chief Executive Officer

Suite 201-919 Notre Dame Avenue, Winnipeg, Manitoba, R3E 0M8 Canada

Telephone: (204) 989-2434  E-mail: murray@winstongold.com

The CSE has neither approved nor disapproved the information contained herein.