Debt Settlement and Proposed Private Placement

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SHOSHONI GOLD LTD.

Suite 701 - 595 Howe Street

Vancouver, BC V6C 2T5

DEBT SETTLEMENT AND PROPOSED PRIVATE PLACEMENT

Vancouver, BC, July 10, 2019 – Shoshoni Gold Inc. (SHJ:TSXV) (the “Company” or “Shoshoni”) announces

that the Company will be proceeding with a consolidation on a 4 old shares for one new share basis and

the adoption of a new name. Details of the new name will be provided upon determination of same. The

Company reports that it intends to issue up to 4,0 21,422 Units at a deemed price of $0 .09 to settle an

aggregate of $361,928 of indebtedness. Each Unit will be comprised of one consolidated common share

and one transferable warrant to acquire an additional post-consolidated common share at a price of $0.15

in the first year and $0.20 in t he second year. In addition, the Company intends to complete a non -

brokered private placement in the aggregate amount up to $ 360,000 consisting of up to 4,000,000 units

(the "Units") at a price of $0.09 per Unit (the “Offering”). Each Unit will consist of one post-consolidated

common share and one common share purchase warrant (a “ Warrant”). Each Warrant will entitle the

holder thereof to purchase one post-consolidated common share at an exercise price of $0.12 in the first

year and $0.15 in the second year.

Finder's fee may be payable in cash, shares and/or warrants in accordance with the policies of the TSXV.

All securities issued in connection with the private placement are subject to a 4-month hold period from

the date of issue under National Instrument 45 -102 and the policies of the TSXV. Completion of the

consolidation, name change, debt settlement and Offering is subject to receipt of all regulatory approvals,

including the approval of the TSXV.

Net proceeds from the Offering will be utilized to fund outstanding liabilities, fund general working capital

purposes and to evaluate additional business opportunities that can enhance shareholder value.

The placement announced by News Release date January 21, 2019, has not been proceeded with.

Contact Person: Mr. Glen Macdonald, P.Geo.

Telephone: (604)719-8129

Email: [email protected]

About the Company

The Company maintains its Kirkland’s Creek, Yukon project in good standing.

Shoshoni has 9,006,150 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 Executive Officer and Director

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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.

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.