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To: Goose94 who wrote (7544)	5/4/2016 7:13:00 PM
From: Goose94	Read Replies (2) \| Respond to of 202865

Crown Mining (CWM-V) May 4th 2016 is pleased to announce that it has received approval from the TSX Venture Exchange to complete its a non-brokered private placement previously announced on April 13, 2016 (the "Private Placement") for increased aggregate gross proceeds of $207,939.96. The Private placement will officially close in the next few days as the Company completes the required documentation and registration of this Private Placement. The Private Placement involves the issuance of 3,465,666 units ("Units") at a price of $0.06 per Unit for gross proceeds of $207,939.96. Each Unit consists of one common share in the capital stock the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share at a price of $0.15 at any time up to the date that is three years following the date of closing of the Private Placement, subject to an acceleration clause. All securities issued pursuant to this Private Placement will be subject to a four-month hold period. The indirect and direct participation in the Private Placement by insiders of the Company constitutes a "related party transaction" as such term is defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Insiders of the Company acquired directly and indirectly a total of $51,000 worth of Units or 850,000 Units in the Private Placement on the same basis as other participants. The Company is relying on the exemptions from the formal valuation and minority approval requirements under MI 61-101. The Company is exempt from the formal valuation requirement of MI 61-101 based on section 5.5(b) of MI 61-101 as no securities of the Company are listed or quoted for trading on the Toronto Stock Exchange, the New York Stock Exchange, the American Stock Exchange, the NASDAQ stock market or any other stock exchange outside of Canada and the United States other than the Alternative Investment Market of the London Stock Exchange or the Plus operated by Plus Markets Group plc. Additionally, the Company is exempt from obtaining minority shareholder approval in connection with the Private Placement by relying on section 5.7(1)(b) of MI 61-101 as, in addition to the foregoing, (i) neither the fair market value of the Units nor the consideration received in respect thereof from "interested parties" as defined by MI 61-101 would exceed $2,500,000, (ii) the Company has one or more independent directors in respect of the Private Placement who are not employees of the Company, and (iii) all of the independent directors have approved the Private Placement. A material change report in connection with the Private Placement will be filed less than 21 days before the closing of the Private Placement. This shorter period is reasonable and necessary in the circumstances as the Company wished to complete the Private Placement in a timely manner. The Company will use the proceeds of the Private Placement for exploration and development work at its Lights Creek Copper Project and for general working capital purposes. Crown is focused on advancing its 100% controlled Lights Creek Copper Project in Northeast California. There are four known copper deposits on the 18 square kilometer property with over 2 billion pounds of contained copper as reported in our two Technical Reports available on Sedar. The Moonlight deposit hosts a current National Instrument 43-101 ("NI 43-101") compliant indicated resource of approximately 161 million tons (146.5 million tonnes) averaging 0.324% copper, 0.003 ounces of gold and 0.112 ounces of silver per ton, and an inferred resource of 88 million tons (80 million tonnes) averaging 0.282% copper per ton. Further details of this resource can be found in the Technical Report on the Moonlight Copper Property dated April 12, 2007 at Sedar.com. The Superior and Engels deposits have a current NI 43-101 inferred mineral resource of 57 million metric tonnes at an average copper grade of 0.43%. Further details of this resource can be found in the Technical Report on the Superior Project dated November 7, 2014 filed on Sedar. The fourth deposit has a historical resource that is not compliant with NI 43-101. Mr. George Cole is the Qualified Person pursuant to NI 43-101 responsible for the technical information contained in this news release, and he has reviewed and approved this news release. For more information please see the Crown website at www.crowngoldcorp.com. For Further Information Contact: Mr. Stephen Dunn President, CEO and Director Crown Mining Corporation (416) 361-2827 or email info@crowngoldcorp.com