NOT FOR DISSEMINATION INTO THE UNITED STATES OR
THROUGH U.S. NEWSWIRE SERVICES

Endurance Gold Corporation (EDG - TSX.V, 'Endurance') announces that it has closed the first tranche of the non-brokered private placement (the 'Offering') announced on June 30, 2016. The first tranche of the Offering consists of aggregate gross proceeds of $239,640. The Company will issue 3,994,000 units (the 'Unit') at a price of $0.06 per Unit in the first tranche.

Each Unit is comprised of one common share and one non-transferable common share purchase warrant (the 'Warrant'). Each such Warrant is exercisable into one common share at a price of $0.10 per share for a period of three years from the date of closing (the 'Closing'). The Warrants are subject to an accelerated expiry date which comes into effect when the volume weighted average trading price of the common shares of the Company is at or above $0.18 per share for twenty consecutive trading days in the period commencing four months after the Closing. In the event that the Company gives an expiry acceleration notice (the 'Notice') to holder of the warrants, the expiry date of the Warrants will be 30 days from the date of the Notice. 390,000 Units of this first tranche of Offering were subscribed by an officer and two Canadian-resident directors of the Company. In connection with the first tranche of the Offering, the Company has paid $630 as a finder's fee.

All securities issued in this tranche of the financing are subject to final regulatory acceptance and will be subject to a hold period which expires on November 23, 2016. The second tranche of the Offering is expected to close on or before August 15, 2016.

As previously disclosed, the net proceeds from the Offering will be used to fund the Company's exploration activities including a planned program on the Elephant Mountain Gold Project Alaska and for general working capital.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the '1933 Act'), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or 'U.S. persons' (as such term is defined in Regulation S promulgated under the 1933 Act) absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

ENDURANCE GOLD CORPORATION

Robert T. Boyd
Per:
President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT

Endurance Gold Corporation
(604) 682-2707, [email protected]
www.endurancegold.com

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