Oban and NioGold File Joint Circular Seeking Shareholder Approval of Business Combination

TORONTO, ONTARIO--(Marketwired - Feb. 8, 2016) - Oban Mining Corporation (TSX:OBM) ("Oban") and NioGold Mining Corp. (TSX VENTURE:NOX) ("NioGold") are pleased to announce that they have filed a joint management information circular (the "Circular") and related proxy materials in advance of their respective special shareholders' meetings seeking approval of, among other things, the Arrangement (as defined herein). The Circular is now being mailed to the shareholders of Oban and NioGold to provide them with information about both companies and the proposed Arrangement.

On January 11, 2016, Oban and NioGold entered into an arrangement agreement and announced a proposed business combination pursuant to which, among other things, Oban will acquire all of the issued and outstanding common shares of NioGold (the "Arrangement"). The Arrangement is expected to be completed by way of a statutory plan of arrangement under the Business Corporations Act (British Columbia).

NioGold Meeting

The special meeting of shareholder of NioGold is scheduled to be held at 10:00 a.m. (Eastern Standard Time) on Friday March 4, 2016 at the offices of Bennett Jones LLP, Suite 3400, One First Canadian Place, Toronto, Ontario, Canada, M5X 1A4.

Oban Meeting

The special meeting of shareholder of Oban is scheduled to be held at 11:00 a.m. (Eastern Standard Time) on Friday March 4, 2016 at the offices of Bennett Jones LLP, Suite 3400, One First Canadian Place, Toronto, Ontario, Canada, M5X 1A4.

Your vote is important regardless of the number of shares you own. Oban and NioGold encourage shareholders to read the meeting materials in detail. An electronic copy of the Circular is available on Oban's website at www.obanmining.com and on NioGold's website www.niogold.com. The Circular is also available on SEDAR under the issuer profiles of both companies at www.sedar.com.

Reasons and Benefits of the Arrangement

Reason and benefits of the Arrangement include, among others:

• Execution of a well-capitalized gold consolidation strategy;
• Significant premium to NioGold Shareholders (approximately 67% based on the 20-day volume weighted average price of the NioGold common shares on the TSXV at the close of business on January 8, 2016);
• Complementary assets with the potential to significantly reduce costs;
• Platform for further consolidation of the Canadian junior gold marketplace; and
• Strong financial position

YOUR VOTE IS IMPORTANT - PLEASE VOTE TODAY