Goldstrike Resources Ltd. Announces Accelerated Expiry of Warrants

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 24, 2016) - Goldstrike Resources Ltd. (the "Company" or "Goldstrike") (TSX VENTURE:GSR)(OTC PINK:APRAF)(FRANKFURT:KCG1) reports that the period during which certain outstanding share purchase warrants of the Company may be exercised has been shortened from October 7, 2016 to July 26, 2016 as a result of the recent increase in the trading price of the Company's shares, in accordance with the policies of the TSX Venture Exchange (the ("TSXV").

TSXV Policy 4.1, section 3.3, provides that where outstanding warrants are re-priced and the new exercise price of the warrants is below the Market Price as at the Price Reservation Date for the originating private placement, the terms of the warrants must also be amended to include an accelerated expiry clause such that the exercise period of the warrants will be reduced to 30 days if, for any ten consecutive trading days during the unexpired terms of the warrants (the "Premium Trading Days") the closing price of the Company's shares exceeds the exercise price of the warrants by 25% or more (if the exercise price is $0.50 or less) with the reduced exercise period of 30 days beginning no more than 7 calendar days after the tenth Premium Trading Day.

The statutory arrangement (the "Arrangement") involving the security holders of the Company and Petro One Energy Corp. ("Petro One") which completed on February 29, 2016 involved the re-pricing of certain outstanding warrants to $0.15, which was below the Market Price as at the Price Reservation Date for each of the private placements pursuant to which such warrants were issued. Accordingly, the Arrangement provided that the exercise period of all warrants re-priced as part of the Arrangement would be shortened if the closing price of the Company's shares were to equal or exceed $0.1875 for ten consecutive trading days (the "Acceleration Requirement"). The tenth Premium Trading Day for the Company's shares was June 20, 2016. Accordingly, in accordance with TSXV Policy 4.1, the expiry date of certain outstanding warrants has changed from October 7, 2016 to July 26, 2016, which is the last day of the 30 period beginning on the 7^th calendar day after the tenth Premium Trading Day.