Astur Gold Announces Significant Strategic Changes to the Company Including Restructure of Debt, Interim Financing and Changes in Board and Management

VANCOUVER, BC--(Marketwired - July 12, 2016) - Astur Gold Corp. (TSX VENTURE: AST)(FRANKFURT: CDC) ("Astur" or the "Company") is pleased to announce that it has entered into strategic agreements, subject to filing approval by the TSX-V, organised by Lionsbridge Pty Ltd ("Lionsbridge") for the restructuring of the Company.

Lionsbridge, RMB Australia Holdings Limited("RMBAH") and the Company have entered into an option agreement, facilitated by Lionsbridge, under which RMBAH has granted Astur the option (the "Option") to repay the secured debt facility owed by Astur to RMBAH (currently US$8.77 million) in consideration for a cash payment of US$3,000,000, a 2% net smelter returns royalty on the first 800,000 ounces of gold produced from the Company's Salave Project (the "NSR"), certain additional consideration to a maximum of U.S $6,000,000 if, over a three year period, Astur enters into any sale, merger or joint venture involving the Salave Project where the Salave Project is valued in excess of US$10,000,000, and reimbursement of certain expenses. The NSR may be repurchased by Astur at any time until the earlier of (a) receipt of primary environmental approvals for the Salave Project or (b) December 31, 2017 for a cash payment of US$3.0 million. If Astur wishes to repurchase the NSR before December 31, 2016, it may do so for a cash payment of US$2.0 million. Under the Option Agreement, RMBAH has granted Lionsbridge the exclusive right until 6 September 2016 (the "Exclusivity Period") to arrange the necessary financing to exercise the Option. The Option will terminate if it is not exercised on or before the expiry of the Exclusivity Period. Under the terms of the Option, RMBAH will continue to contribute working capital to the Company during the Exclusivity Period.

The Company has also entered into a services agreement (the "Services Agreement") with both Lionsbridge and Westech International Pty Ltd ("Westech") under which Lionsbridge will provide the Company with corporate management services. Westech will, subject to independent approvals, provide the Company with technical services to progress the Salave project. The Services Agreement is subject to acceptance for filing by the TSX Venture Exchange (the "TSXV").