Ontario Superior Court of Justice Grants Final Order for Coastal Gold Corp. Plan of Arrangement With First Mining Finance Corp.

TORONTO, ONTARIO--(Marketwired - July 6, 2015) - COASTAL GOLD CORP. (TSX VENTURE:COD) ("Coastal Gold") and First Mining Finance Corp. (TSX VENTURE:FF) ("First Mining") are pleased to announce that on July 3, 2015, Coastal Gold has received the final order of the Ontario Superior Court of Justice for the acquisition of Coastal Gold by First Mining by way of a plan of arrangement under the Business Corporations Act (Ontario) (the "Arrangement").

The Arrangement is anticipated to become effective on or about July 7, 2015. Completion is subject to the satisfaction of certain other closing conditions customary of a transaction of this nature. In the event the Arrangement is completed, First Mining will acquire all of the issued and outstanding common shares of Coastal Gold in exchange for 0.1625 of a First Mining common share for each Coastal Gold share that is outstanding. It is further anticipated that shortly after the completion of the Arrangement, Coastal Gold's common shares will be delisted from the TSX Venture Exchange and that applications will be filed for Coastal Gold to cease to be a reporting issuer under Canadian securities laws.

Full details of the Arrangement and certain other matters are set out in the management information circular of Coastal Gold dated May 27, 2015 (the "Information Circular"). A copy of the Information Circular and other meeting materials can be found on the SEDAR website at www.sedar.com.

ABOUT COASTAL GOLD

Coastal Gold is a Canadian mineral exploration company listed on the TSX Venture Exchange under the symbol "COD". Coastal Gold's flagship property is the Hope Brook Gold Project located in southwestern Newfoundland. Coastal Gold has recently announced a newly estimated high grade underground mineral resource of 5,500,000 tonnes grading 4.77 g Au/t containing 844,000 ounces gold in the indicated category and 836,000 tonnes grading 4.11 g Au/t containing 110,000 ounces gold in the inferred category. In addition, Coastal gold also has estimated inferred mineral resources in tailings of 4.9 million tonnes at 0.85 g Au/t and 0.09% copper containing 134,500 ounces of gold and 9.5 million pounds of copper. For further details on the high grade mineral resource please see the Technical Report authored by Michael Cullen, P. Geo. (an independent Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects) and titled Mineral Resource Estimate Technical Report Hope Brook Gold Project dated January 12, 2015.