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     590  0 Kommentare Reliant Gold Provides Corporate Update and Progress Report on Its East Bay Property, Located in the McVicar Lake Area of Northwestern Ontario

    TORONTO, ONTARIO--(Marketwired - Sept. 28, 2016) - Reliant Gold Corp. ("Reliant Gold" or the "Corporation") (TSX VENTURE:RNG) is pleased to provide a (i) corporate update and (ii) progress report on its East Bay Property, located in the McVicar Lake area of northwestern Ontario, Canada. Please see below an Ontario map showing the location of the Corporation's East Bay Property.

    To view the map, please visit the following link: http://media3.marketwire.com/docs/rng0928map1.pdf.

    I. RELIANT GOLD - CORPORATE UPDATE

    The public junior mineral exploration and mining sector in Canada has been in a downturn cycle for nearly the past eight years. As a result, publicly-traded Canadian junior mineral exploration and mining companies have experienced significant challenges in successfully completing equity financings in order to raise much-needed capital to:

    (i) carry out exploration and development activities;
    (ii) acquire new projects that are prospective for mineral discovery;
    (iii) fund working capital requirements; and
    (iv) pay for the ongoing regulatory costs of maintaining a stock exchange listing.

    Reliant Gold has not been immune to these significant challenges affecting the broader Canadian public junior mineral exploration and mining sector. However, as a result of management's commitment to (i) constraining expenses and (ii) protecting its shareholders by preserving the Corporation's stock exchange listing, Reliant Gold has been able to deftly manoeuvre through the past several years of a cyclical downturn in the mining sector.

    Since re-joining the board of directors (the "Board") and senior management team of Reliant Gold in January 2016, Kabir Ahmed, the Corporation's Chairman, President and CEO, has quickly taken a number of strategic steps to:

    (i) to re-capitalize the Corporation;
    (ii) build up a new management and geological exploration team;
    (iii) commence the process to possibly re-start early-stage exploration activities at its current East Bay Property; and
    (iv) evaluate additional mineral projects - that are prospective for gold discovery - for possible future acquisition.

    Because Mr. Ahmed has ownership of 14.5% of the issued and outstanding common shares of the Corporation, he is squarely aligned with the best interests of Reliant Gold and its shareholders. For instance, since January 2016, Mr. Ahmed has been executing on a strategic plan that will hopefully build success for Reliant Gold and increase value for its shareholders. A summary of the steps taken, to date, under the strategic plan, include the following:

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    Reliant Gold Provides Corporate Update and Progress Report on Its East Bay Property, Located in the McVicar Lake Area of Northwestern Ontario TORONTO, ONTARIO--(Marketwired - Sept. 28, 2016) - Reliant Gold Corp. ("Reliant Gold" or the "Corporation") (TSX VENTURE:RNG) is pleased to provide a (i) corporate update and (ii) progress report on its East Bay Property, located in the McVicar Lake …