DISTRIBUTION TO U.S. WIRE SERVICES Savannah Gold Corp. Announces Share Consolidation and Name Change

FOR IMMEDIATE RELEASE

Contact: Investor Relations August 22, 2016 Phone (604) 684-2181 [email protected]

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

Savannah Gold Corp. Announces Share Consolidation and Name Change

Vancouver, BC – Monday, August 22, 2016 – Savannah Gold Corp. (TSXV – SAV.H) (the “Company” or "Savannah") announces that Mexigold Corp. (former trading symbol MAU.H) has changed its name to Savannah Gold Corp. (trading symbol SAV.H) and has consolidated its common shares on the basis of two (2) old shares for one (1) new share (the “Consolidation”), effective today.

As a result of the Consolidation, the 30,460,319 common shares which were previously issued and outstanding are reduced to approximately 15,230,159 shares. No fractional shares will be issued under the Consolidation and any fraction will be rounded down to the nearest whole number.

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.

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