NioGold Receives Final Court Approval of Business Combination With Oban

TORONTO, ONTARIO--(Marketwired - March 9, 2016) - Oban Mining Corporation (TSX:OBM) ("Oban") and NioGold Mining Corp. (TSX VENTURE:NOX) ("NioGold") are pleased to announce they have received final approval of the British Columbia Supreme Court for their proposed business combination pursuant to a plan of arrangement (the "Arrangement"). Oban and NioGold currently anticipate the closing of the Arrangement to occur on March 11, 2016, subject to the satisfaction or waiver of all conditions precedent.

Under the terms of the Arrangement, NioGold shareholders will be entitled to receive 0.4167 common shares of Oban ("Oban Shares") in exchange for each common share of NioGold ("NioGold Shares") held. Further details regarding the Arrangement are set out in the joint management information circular of Oban and NioGold dated February 3, 2016 which is available on Oban's website at www.obanmining.com, on NioGold's website at www.niogold.com, and on SEDAR under the issuer profile of Oban and NioGold, respectively, at www.sedar.com.

About Oban Mining Corporation

Oban is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Oban owns a 100% interest in the high-grade Windfall Lake gold deposit located between Val-d'Or and Chibougamau in Québec, and also holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area of Québec. In addition, Oban holds properties in the Larder Lake Mining Division located in northeast Ontario, which includes the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. Oban also holds interests and options in a number of additional properties in northern Ontario. Oban is well financed with approximately $65 million in cash, cash equivalents and marketable securities.

About NioGold Mining Corp.

NioGold is a mineral exploration and development company focused on gold. NioGold's projects are located in the heart of Québec's prolific Abitibi gold mining district. The Cadillac, Malartic and Val-d'Or mining camps in this district have produced over 45 million ounces of gold since the 1930s and presently encompass six producing gold mines, including the prolific Canadian Malartic mine located adjacent to NioGold's flagship Marban project. NioGold's land holdings within the Abitibi presently cover 125 square kilometres and encompass seven former gold producers, notably the Norlartic mine, Kierens mine, Marban mine and Malartic Hygrade mine, which collectively produced 630,000 ounces of gold. NioGold's experienced and qualified technical team are overseeing the advancement of these projects, targeting expansion of the resource base and reserve definition of the Marban Block project.