Boxxer Increases Private Placement to $500,000

CALGARY, AB--(Marketwired - August 26, 2014) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Boxxer Gold Corp. (TSX VENTURE: BXX) (PINKSHEETS: BXXRF) ("Boxxer" or the "Corporation") is pleased to announce that, further to its news release dated August 19, 2014, the maximum gross proceeds of the non-brokered private placement (the "Offering") of units ("Units") of the Corporation at a price of $0.04 per Unit has been increased to $500,000. Each Unit will consist of one common share in the share capital of Boxxer ("Common Share") and one Common Share purchase warrant ("Warrant"). Each Warrant shall be exercisable into one Common Share at a price of $0.06 until two (2) years from the date of closing of the Offering. Each Warrant is subject to accelerated expiry provisions such that if any time after the completion of the Offering the closing price of the Common Shares on the TSX Venture Exchange ("TSX Venture") is at least $0.10 per Common Share for 15 consecutive days the Corporation may give notice to the holders that each Warrant will expire 15 business days from the date of providing such notice. The Offering is expected to close on or about August 29, 2014, and the Offering is subject to TSX Venture final acceptance. The securities issued in connection with the Offering will be subject to a four month and 1 day hold period from the date of issuance of such securities.

The proceeds of the Offering will be used primarily to maintain and preserve the Corporation's interest in its exploration properties and for general working capital purposes. Assuming the entire $500,000 Offering is completed, the revised detailed use of proceeds will be as follows:

Intended Use of Proceeds	Approximate Amount
Property Maintenance Costs	$270,000
Finder's Fees, Legal Fees, TSX Venture Fees	$80,000
Working Capital	$50,000
Accounts Payable	$100,000
Total	$500,000

Although the Corporation intends to use the proceeds of the Offering as described above, the actual allocation of the net proceeds of the Offering may vary from the uses set forth above, depending on future operations or unforeseen events or opportunities. It is not currently anticipated that any of proceeds of the Offering will be used for payments to Related Parties of the Corporation (as defined in the policies of the TSX Venture). If the Offering is not fully subscribed, the Corporation will apply the proceeds of the Offering to the above uses in priority and in such proportions as the Board of Directors and Management of the Corporation determine is in in the best interests of the Corporation.