DISTRIBUTION TO U.S. WIRE SERVICES Consolidation of Common Shares and Private Placement

MEXIGOLD CORP.

FOR IMMEDIATE RELEASE

Contact: Investor Relations July 22, 2016 Phone (604) 684-2181 (No. 2016-07-01) [email protected]

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

Consolidation of Common Shares and Private Placement

Vancouver, BC – Friday, July 22, 2016 – Mexigold Corp. (TSXV – MAU.H) (the “Company” or "Mexigold") announces that the Company's Board of Directors has determined to consolidate the Company’s issued share capital on a ratio of one (1) new post-consolidated common share for every two (2) old pre-consolidated common shares (the "Consolidation"). The Company currently has 30,460,319 issued and outstanding common shares and on completion of the Consolidation, the Company will have 15,230,159 issued and outstanding common shares.

Mexigold wishes to announce, subject to regulatory approval, a non-brokered private placement (the "Private Placement") for total gross proceeds of up to $750,000. The Private Placement will consist of up to 7,500,000 post Consolidation units at $0.10. Each post Consolidation unit will consist of one common share and one-half common share purchase warrant (“Warrant”) of the Company. Each whole Warrant will entitle the holder, on exercise, to purchase one additional common share of the Company at a price of $0.20 per share for a period of two years from the closing of the Private Placement.

A finder’s fee maybe payable on a portion of the Private Placement.

ON BEHALF OF THE BOARD OF DIRECTORS

Praveen Varshney, FCPA, FCA President & CEO

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.