Gold Standard Announces Participation of OceanaGold in C$28 Million Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 2, 2018) -

Not for Dissemination in the United States or for Distribution to U.S. Newswire Services

Gold Standard Ventures Corp. (TSX:GSV)(NYSE American:GSV)(NYSE MKT:GSV) ("Gold Standard" or the "Company") is pleased to announce OceanaGold's (TSX:OGC)(ASX:OGC) participation in the non-brokered private placement (the "Private Placement"), previously announced on February 1, 2018. OceanaGold has agreed to maintain their pro rata ownership position of approximately 15.8% of Gold Standard for gross proceeds of approximately C$4.4 million. This is in addition to the previously announced participation of Goldcorp (TSX:G)(NYSE:GG) for gross proceeds of approximately C$3.7 million, increasing their ownership position to approximately 9.99%.

On February 1, 2018, Gold Standard announced that it had entered into an agreement with a syndicate of underwriters co-led by Macquarie Capital Markets Canada Ltd. and BMO Capital Markets (collectively, the "Underwriters"), under which the Underwriters have agreed to buy on a bought deal basis 9,756,100 common shares ("Common Shares") at a price of C$2.05 per Common Share ("Offering Price") for gross proceeds of approximately C$20 million (the "Public Offering"). The Company has granted the Underwriters an option (the "Over-Allotment Option") for a period of 30 days following closing to purchase from the Company up to an additional 1,463,415 Common Shares at the Offering Price. Goldcorp and OceanaGold will each have the right to increase the size of their subscription in the Private Placement by the same proportion as the amount of the Over-Allotment Option that is exercised by the Underwriters. The Public Offering is expected to close on or about February 22, 2018 and is subject to Gold Standard receiving all necessary regulatory approvals.

The net proceeds of the Public Offering and the Private Placement will be used for continued exploration and early-stage development at the Company's 100% owned Railroad-Pinion Project and for working capital purposes.

The Common Shares offered pursuant to the Public Offering will be offered by way of a short form prospectus in British Columbia, Alberta and Ontario and may also be offered by way of private placement outside of Canada. The Common Shares purchased pursuant to the Private Placement will be subject to a statutory hold period in Canada of four months plus one day from the closing of the Private Placement.