Winston Gold Closes Private Placement

WINSTON GOLD CLOSES PRIVATE PLACEMENT

WINNIPEG, MANITOBA – August 3, 2016 – Winston Gold Mining Corp. (“Winston Gold” or the “Company”) (CSE: WGC) Thursday, June 30, 2016  announces, further to its news release of July 15, 2016, that the Company has closed the non-brokered private placement of units of the Company (the “Units”) at $0.10 per Unit (the “Offering”).

The closing consisted of 1,000,000 Units for aggregate gross proceeds of $100,000.  Each Unit consisted of one Class A common share in the capital of the Company (the “Shares”) plus one Class A common share purchase warrant.  Each warrant will entitle the holder to purchase one additional Share at a price of $0.20 on or before August 3, 2018.   

The Company has paid cash commission in the amount of $3,200, being 8% of the aggregate proceeds from the sale of Units to purchasers introduced by the finders. The Company has also issued non-transferable warrants (the “Finder’s Warrants”) to acquire a total of 40,000 Shares, being 10% of the number of Units sold under the Offering to purchasers introduced by the finders.  Each Finder’s Warrant entitles the holder to purchase one Share at a price of $0.20 per Share on or before August 3, 2018.

All securities issued in connection with the Offering are subject to a statutory hold period of four months plus a day in accordance with applicable securities legislation ending on December 4, 2016.

The net proceeds received from the Offering will be used by the Company  for general working capital.

On behalf of the Board of Directors of the Company and for further information, please contact:

Murray Nye, Chief Executive Officer and a director of Winston Gold, at:
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.