Extension of Facility Agreement and Definitive Agreements with RMB

VANCOUVER, BC--(Marketwired - December 16, 2016) - Black Dragon Gold Corp. (TSX VENTURE: BDG) ('Black Dragon' or the 'Company') is pleased to announce that the Company and RMB Australia Holdings Limited ("RMB") have agreed to close the the re-purchase of the RMB USD 10,000,000 debt facility (the 'Facility'), by or before 20 January 2017. The parties will continue to work together to close the transaction as soon as practicable.

The Facility will be assigned to Black Dragon for total consideration of $US 3,051,764.62 plus interest. If the transaction closes on 20 January 2017 the total consideration due, including interest, will be US$3,148,076.01.

Brian Wesson commented: "The Company appreciates the support of RMB and looks forward to closing on the agreements. The Company continues to explore various financing propositions and progressing with stakeholder engagement, we will update the market shortly on progress"

Signed "Brian Wesson"
President and Chief Executive Officer
on behalf of the Board of Directors

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FOR FURTHER INFORMATION PLEASE CONTACT:
Clyde Wesson
Vice President
Suite 545, 999 Canada Place
Vancouver, B.C., V6C 3E1
Tel: [phone]
[e-mail]
www.blackdragongold.com