Shoshoni Gold Ltd. Announces Ammendment to Private Placement to Existing Shareholders and Other Investors

488 - 625 Howe Street Vancouver, BC V6C 2T6

SHOSHONI GOLD LTD. ANNOUNCES AMMENDMENT TO PRIVATE PLACEMENT TO EXISTING SHAREHOLDERS and OTHER INVESTORS

Vancouver, BC, June 3, 2016 – Shoshoni Gold Inc. (SHJ:TSXV) (the “Company” or “Shoshoni”) reports that it has amended the terms of its previously announced financing such that the Company will issue a total of up to 100 million Units at a price of $0.005 per Unit. Each Unit shall be comprised of one common share and one transferable warrant exercisable at $0.005 for a period of 36 months to acquire an additional common share. The Company has set July 11, 2016 as the date to seek shareholder approval of a consolidation on a minimum of ten (10) old shares for one (1) new share basis. The exact ratio will be subject to shareholder approval and the post-consolidated issuer meeting board-lot distribution requirements.

The Company has obtained a discretionary waiver from the five-cent minimum pricing requirement by the TSX Venture Exchange (“TSXV”) pursuant to the TSX-V bulletin dated April 7, 2014. A finder's fee may be paid by the company in connection with the offering in accordance with the policies of the TSX- V.

The offering is open, subject to certain limitations discussed as follows, to existing shareholders of the company who, at the close of business on April 21, 2016, held common shares of the company (and who continue to hold common shares of the company at the time of closing of the offering), pursuant to the prospectus exemption set out in Multilateral CSA Notice 45-313 and the various corresponding blanket orders and rules of participating jurisdictions (the existing shareholder exemption is not available in Ontario or Newfoundland and Labrador). The total acquisition cost to a subscriber under the existing shareholder exemption cannot exceed $15,000 unless that subscriber has obtained advice from a registered investment dealer regarding the suitability of the investment. There is a minimum subscription amount of $1,000. Any existing shareholder interested in participating in the offering should contact the company.

If subscriptions received for the offering based on all available exemptions exceed the maximum offering amount of $500,000, subscriptions will be accepted at the discretion of the company, such that it is possible that a subscription received from a shareholder may not be accepted by the company if the offering is oversubscribed. In accordance with the existing shareholder exemption, the company confirms there is no material fact or material change related to the company which has not been generally disclosed.

Existing shareholders of the Company are directed to contact the Company for further information concerning subscription for shares pursuant to the Existing Shareholder Exemption, as follows:

Contact Person: Mr. Glen Macdonald, President

Telephone: (604)719-8129

Email: [email protected]

In addition to using the existing shareholder exemption, the offering will also be conducted pursuant to other available prospectus exemptions, including sales to accredited investors, as well as family members, close friends and business associates of directors and officers of the company.

Shoshoni intends to use the proceeds of the offering for maintaining and advancing its Kirkland’s Creek gold exploration project, retiring existing indebtedness, due diligence on additional projects and for continuing general corporate and working capital purposes. A breakdown of the intended use of proceeds for the ensuing 12-month period is shown in the attached table.

Professional fees audit, legal, accounting $50,000 Shareholder expenses (transfer agent fees) $18,000 AGM Expenses $15,000 Insurance $10,000 Share issuance expenses (TSX-V fees) $10,000 TSXV Fees 2016 $7,000 Maximum Finders’ Fee $50,000 Transfer Agent Consolidation Expenses $3,000 Third party geological consultants $25,000 Repayment of Outstanding Loan $12,865 Repayment of Outstanding Liabilities $249,135 Due Diligence on potential projects $25,000 General Working Capital $25,000

Gross Proceeds $500,000

Although the company intends to use the proceeds of the offering as described above, the actual allocation of net proceeds may vary from the uses set forth above, depending on future operations or unforeseen events or opportunities. If the offering is not fully subscribed, the company will apply the proceeds of the offering to the above uses in priority, and in such proportions as the board of directors and management of the company determine in the best interests of the company.

The common shares issued to subscribers resident in Canada in the offering will be subject to a statutory four-month hold period. The offering is subject to certain closing conditions, including, but not limited to, the receipt of applicable regulatory approvals including approval of the TSX-V and the completion of required regulatory filings with the TSX-V.

About the Company

Shoshoni Gold Ltd. is focused on acquiring, exploring and developing gold resources to meet the world’s growing demand. The Company maintains its Kirkland’s Creek, Yukon project in good standing.

Shoshoni has 32,061,504 shares issued and outstanding and trades on the TSX Venture Exchange under symbol: SHJ.

ON BEHALF OF THE BOARD

(signed) “Glen Macdonald”

Glen Macdonald Chief Financial Officer and Director

THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

This news release may contain forward-looking statements that are based on Shoshoni Gold Ltd.'s expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and Shoshoni Gold Ltd. undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

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 and has in no way passed upon the merits of the qualifying transaction and has neither approved nor disapproved of the contents of this press release.

FOR ADDITIONAL INFORMATION CONTACT:

Glen Macdonald, P.Geo

Chief Financial Officer and Director Shoshoni Gold Ltd.

Office: 604-719-8129 [email protected]