UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS. Roughrider Closes Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE

UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE

A VIOLATION OF U.S. SECURITIES LAWS.

Roughrider Closes Private Placement

Vancouver, BC / ACCESSWIRE / December 30, 2016 -- Roughrider Exploration Limited (TSX-V:

REL) ("Roughrider" or the “Company”) – is pleased to announce it has closed the first tranche of its

previously announced non-brokered private placement (the "Private Placement"). In connection with this

closing, the Company issued an aggregate of 5,101,000 flow-through units (the "FT Units") at a price of

$0.06 per FT Unit for aggregate proceeds of $306,060 and an aggregate of 5,150,000 non-flow-through

common shares (the "Non-FT Shares") at a price of $0.05 per Non-FT Share for aggregate proceeds of

$275,500. The FT Units consist of one flow-through common share and one half of one share purchase

warrant (a “ Warrant”). Each whole Warrant entitles the holder to purchase one non-flow-through

common share at a price of $0.10 per common share until December 30, 2018. In connection with

closing, Accilent Capital Management Inc. received aggregate finder’s fees of $14,704.20 and 122,535

finders warrants exercisable purchase one non-flow-through common share at a price of $0.10 per

common share until December 30, 2018.

The proceeds of the Private Placement will be used for debt settlement as well as for general working

capital purposes and further work on Roughrider’s Genesis uranium project. All the securities issued

under the Private Placement are subject to a hold period expiring four months and one day from the date

of issuance.

Scott Gibson, the President of the Company acquired, directly and indirectly, 1,600,000 common shares

and 800,000 Warrants pursuant to the Private Placement. Prior to the Private Placement, Mr. Gibson

owned directly, or had control and direction over 2,364,000 common shares, representing 9.05% of the

outstanding shares of the Company and 227,500 share purchase warrants. As a result of the acquisition of

the securities described above, Mr. Gibson directly and indirectly now owns and/or controls in aggregate

3,964,000 common shares of the Company representing 10.90% of the post-closing issued and

outstanding common shares of the Company, and 1,027,500 share purchase warrants.

In addition, Pavilion Flow-Through (2016) 1 ("Pavilion"), acquired directly, 3,334,000 common shares

and 1,667,000 Warrants pursuant to the Private Placement. Prior to the Private Placement, Accilent

Capital Management Inc. ("Accilent"), the portfolio manager of Pavilion owned directly, or had control

and direction over 1,693,000 common shares, representing 6.48% of the outstanding shares of the

Company. As a result of the acquisition of the securities described above, Accilent directly and indirectly

now owns and/or controls in aggregate 5,027,000 common shares of the Company representing 13.83%

of the post-closing issued and outstanding common shares of the Company and 1,789,535 Warrants.

The Company has been advised that Mr. Gibson and Pavilion each separately acquired these securities for

investment purposes and may in the future acquire or dispose of securities of the Company, through the

market, privately or otherwise, as circumstances or market conditions warrant.

In total, directors and officers of the Company subscribed for a total of 3,300,000 under the Private

Placement. The issuance of these securities to directors and officers under the Private Placement are

“related party transactions” under the policies of the Exchange and Multilateral Instrument 61-

101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is

relying on exemptions from the minority shareholder approval and formal valuation requirements

applicable to the related party transactions under Sections 5.7(b) and 5.5(b), respectively, of MI 61-101.

There has been no prior formal valuation of the common shares and share purchase warrants issued as

there has not been any necessity to do so. The Private Placement has been reviewed and unanimously

approval by the Company’s board of directors, including the independent directors.

About Roughrider Exploration Limited

Roughrider's focus is exploring the 131,412 hectare (324,728 acre) Genesis uranium project located in the

Wollaston-Mudjatik geological trend extending northeast from Saskatchewan's Athabasca Basin.

Roughrider has the option to earn an 85% interest in Genesis from Kivalliq Energy Corporation.

For further information, please contact:

Scott Gibson

Chief Executive Officer

604-697‐0028

Neither 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.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Certain information contained or incorporated by reference in this press release, including any

information as to our strategy, projects, plans or future financial or operating performance, constitutes

"forward-looking statements." All statements, other than statements of historical fact, are to be

considered forward-looking statements. Forward-looking statements are necessarily based on a number

of estimates and assumptions that, while considered reasonable by the company, are inherently subject to

significant business, economic, geological and competitive uncertainties and contingencies. Although the

Company believes the expectations expressed in such forward-looking statements are based on

reasonable assumptions, such statements are not guarantees of future performance. Known and unknown

factors could cause actual results to differ materially from those projected in the forward-looking

statements. Such factors include but are not limited to: fluctuations in market prices, exploration and

exploitation successes, continued availability of capital and financing, changes in national and local

government legislation, taxation, controls, regulations, expropriation or nationalization of property and

general political, economic, market or business conditions. Many of these uncertainties and contingencies

can affect our actual results and could cause actual results to differ materially from those expressed or

implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that

forward-looking statements are not guarantees of future performance and, therefore, readers are advised

to rely on their own evaluation of such uncertainties. All of the forward-looking statements made in this

press release, or incorporated by reference, are qualified by these cautionary statements. We do not

assume any obligation to update any forward-looking statements.

UNITED STATES ADVISORY

The securities referred to herein have not been and will not be registered under the United States

Securities Act of 1933, as amended (the "U.S. Securities Act"), have been offered and sold outside the

United States to eligible investors pursuant to Regulation S promulgated under the U.S. Securities Act,

and may not be offered, sold, or resold in the United States or to, or for the account of or benefit of, a

U.S. Person (as such term is defined in Regulation S under the United States Securities Act) unless the

securities are registered under the U.S. Securities Act, or an exemption from the registration

requirements of the U.S. Securities Act is available. Hedging transactions involving the securities must

not be conducted unless in accordance with the U.S. Securities Act. This press release shall not constitute

an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities

in the state in the United States in which such offer, solicitation or sale would be unlawful.

Source: Roughrider Exploration Limited