Damara Announces Closing of Osino Shares

206 - 3500 Carrington Road, West Kelowna, BC V4T 3C1

Telephone (250) 768-0009 Fax (250) 768-0020 Web Site: www.damaragoldcorp.com

NEWS RELEASE

DAMARA ANNOUNCES CLOSING OF OSINO SHARES

October 13, 2017 TSX-V: DMR

DAMARA GOLD CORP. (TSX-V:DMR) (“Damara” or the “Company”), reports further to it news release of

August 10, 2017 the Company has received TSX Venture Exchange acceptance and has closed the sale of

9,039,560 Osino Resource Corp. shares (“Osino Shares”) at a price of $0.05 per share for gross proceeds of

$451,978 to arms-length purchasers.

The net proceeds will be allocated for working capital and project acquisitions.

The Company confirms there are no finders’ fees applicable to the sale of the Osino Shares.

About Damara

Damara Gold Corp. is a TSX Venture listed Canadian public company with a Board of Directors seasoned in the

mineral exploration industry with extensive and successful international experience with a focus on identifying

and acquiring prospective and under-explored gold properties worldwide.

ON BEHALF OF THE BOARD OF DIRECTORS OF DAMARA

“Larry Nagy”

Larry Nagy, Chief Executive Officer

For additional information visit Damara’s website at www.damaragoldcorp.com or contact:

Damara Gold Corp.

Larry Nagy

Chief Executive Officer or

Terese Gieselman

Chief Financial Officer

Ph: (250-768-0009)

NR: 17-06

Neither the TSX Venture Exchange nor its Regulation Services Pr ovider (as that term is defined in the policies of the TSX

Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Statements Regarding Forward-Looking Information

Certain statements contained in this news release may contain forward-looking info rmation within the meaning of Canadian

securities laws. Such forward-looking information is identifi ed by words such as “estimates”, “intends”, “expects”,

“believes”, “may”, “will” and include, without limitation, statements regarding the company’s plan of business operations

(including plans for progressing assets), estimates regardin g mineral resources, projection s regarding mineralization and

projected expenditures. There can be no assurance that such st atements will prove to be accurate; actual results and future

events could differ materially from such statements. Factors that could cause actual results to differ materially include,

among others, metal prices, risks inherent in the mining indu stry, financing risks, labour risks, uncertainty of mineral

resource estimates, equipment and supply risks, title disputes, regulatory risks and environmental concerns. Most of these

factors are outside the control of the company. Investors are cautioned not to put undue reliance on forward-looking

information. Except as otherwise required by applicable secu rities statutes or regulation, the company expressly disclaims

any intent or obligation to update public ly forward-looking informatio n, whether as a result of new information, future

events or otherwise.