Recommended Cash Offer by Orion Mine Finance to Acquire Dalradian Resources Inc.

TORONTO, June 21, 2018 (GLOBE NEWSWIRE) -- Dalradian Resources Inc. (TSX:DNA) (AIM:DALR) ("Dalradian" or the "Company") and Orion Mine Finance are pleased to announce that the Company and certain affiliates of Orion Mine Finance (collectively, "Orion") have entered into a definitive arrangement agreement (the "Arrangement Agreement"), whereby Orion will acquire all of the issued and outstanding common shares of the Company ("Dalradian Shares") by way of a statutory plan of arrangement under the Business Corporations Act (Ontario) (the "Transaction"). Under the terms of the Arrangement Agreement, the Dalradian Shares held by certain members of the Dalradian senior management team, Sean Roosen and Osisko Gold Royalties Ltd (collectively, the "Remaining Shareholders") will not be acquired by Orion. Collectively, Orion and the Remaining Shareholders currently hold 72,695,911 Dalradian Shares or 20.4% of the issued and outstanding Dalradian Shares.

The Arrangement Agreement

Under the terms of the Arrangement Agreement, each Dalradian shareholder (other than the Remaining Shareholders) (the "Affected Dalradian Shareholders") will receive cash consideration of C$1.47 for each Dalradian Share held (the "Consideration"), valuing Dalradian's total equity at approximately C$537 million, on a fully diluted in-the-money basis. The Consideration represents a 62% premium to the closing price of the Dalradian Shares on the Toronto Stock Exchange (the "TSX") on June 20, 2018 and a 49% premium to the volume weighted average price ("VWAP") of the Dalradian Shares over the last 30 trading days.

Benefits to Dalradian Shareholders

• Immediate and significant premium of approximately 62% to the closing price of the Dalradian Shares on June 20, 2018, and approximately 49% based on the 30-day VWAP.
• All cash offer that is not subject to a financing condition.
• Strong deal certainty with support agreements accounting for a total of approximately 31.4% from directors and senior officers of Dalradian, certain funds, Orion and the Remaining Shareholders.

Oskar Lewnowski, Chief Investment Officer of Orion, commented, "We are very pleased to expand our ownership in one of the world's best undeveloped gold deposits. Curraghinalt gets more exciting as additional exploration and engineering work is completed, the recent positive resource update being just the latest example. The Dalradian team has done an outstanding job of growing the deposit and advancing it through the feasibility stage. We look forward to working with the core Dalradian management team to secure planning permission for a world class mine using best-in-class mining, processing and environmental standards."