March 31, 2016 -- New Carolin Gold Corp. (the 'Company' or 'New Carolin') (TSXV: LAD | OTC:MDULF)
is pleased to announce that the TSX Venture Exchange has provided conditional acceptance of the acquisition by the Company of the remaining undivided 60% interest in the Carolin Mine and related properties held by Century Mining Corporation, on the terms previously announced. With this acceptance, the Company is cleared to close the transaction and effect formal property transfers to take 100% interest and control of the Ladner Gold Project.

The TSX Venture Exchange will issue a bulletin upon completion.

About New Carolin Gold Corp.
New Carolin Gold is a Canadian-based junior company focused on the exploration, evaluation and development of 144 sq. kms of contiguous mineral claims, collectively known as the Ladner Gold Project. The Project is located near Hope, BC, in the prospective and under-explored Coquihalla Gold Belt, which is host to several historic small gold producers including the Carolin Mine, Emancipation Mine, Pipestem Mine and numerous gold prospects. For additional information, please visit the Company's website at www.newcarolingold.com.

ON BEHALF OF THE BOARD OF DIRECTORS

'Robert L. Thast'
President & Chief Executive Officer
Phone: 604-542-9458
Cell: 604.220.5031
E-mail: [email protected]
Web site: www.newcarolingold.com

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 the accuracy of this press release. We seek Safe Harbor.

Caution concerning forward-looking information
This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.