Compass Gold: Warrant Exercise Adds $830,000 to Treasury for Ongoing Exploration at Sikasso Gold Properties in Southern Mali

Compass Gold: Warrant Exercise Adds $830,000 to Treasury for Ongoing

Exploration at Sikasso Gold Properties in Southern Mali

TORONTO, May 16, 2018 -- Compass Gold Corp. (TSX-V:CVB) (Compass or the Company) is pleased to announce that its

Warrant Holders have exercised approximately 2.3 million warrants from the November 2017 private placement ( see News

Release dated November 29, 2017), for gross proceeds to the Company of $830,000. These funds will be used to supplement

the Company’s existing treasury for the ongoing exploration of its Sikasso gold properties located in the prolific greenstone

belts of southern Mali.

Commenting on the exercise of the warrants, Company President and CEO, Larry Phillips, said, “The exercise of these

warrants shows the confidence of our Warrant Holders in the Company and their interest in the exciting results achieved over

the first four months of this year. The $830,000, when added to the existing $4 million exploration budget for 2018, gives the

Company the financial strength to fund aggressive exploration at Sikasso through to the end of the year and beyond.”

All of the 2,000,000 warrants that expired on May 4, 2018 were exercised at a price of $0.35, along with the 84,000 broker

warrants, for total proceeds of $750,000. A further 228,571 warrants expiring on May 15, 2018 were exercised at $0.35 for total

proceeds of $80,000. The exercise of these warrants brought Compass’s total number of shares outstanding to 29,738,522.

About Compass Gold Corp.

Compass, a public company having been incorporated into Ontario, is a Tier 2 issuer on the TSX-V. Through the recent

acquisition of MGE and Malian subsidiaries, Compass holds gold exploration permits in Mali that comprise the Sikasso

Property. The exploration permits are located in three sites in southern Mali with a combined land holding of 1,179 km 2.   The

Sikasso Property is located in the same region as several other multi-million ounce gold projects, including Morila, Syama,

Kalana and Kodieran.  The Company’s Mali-based technical team, led in the field by Dr. Diallo and under the supervision of Dr.

Sandy Archibald, P.Geo, is initiating a new exploration program. They are examining the first of numerous anomalies noted for

further investigation in Dr. Archibald’s August 2017 “National Instrument 43-101 Technical Report on the Sikasso Property,

Southern Mali.

Qualified Person

This news release has been reviewed and approved by Dr. Sandy Archibald, P.Geo, Compass’s Technical Director, who is the

Qualified Person for the technical information in this news release under National Instrument 43-101 standards.

Forward‐‐‐‐Looking Information

This news release contains "forward ‐looking information" within the meaning of applicable securities laws, including

statements regarding the Company’s planned exploration work and management appointments. Readers are cautioned not to

place undue reliance on forward ‐looking information. Actual results and developments may differ materially from those

contemplated by such information. The statements in this news release are made as of the date hereof. The Company

undertakes no obligation to update forward‐looking information except as required by applicable law.

For further information please contact:  

Compass Gold Corporation Compass Gold Corporation

Larry Phillips – Pres. & CEO Greg Taylor – Dir. Investor Relations & Corporate Communications

[email protected] [email protected]

T: +1 416-596-0996 X 302 T: +1 416-596-0996 X 301

Website: www.compassgoldcorp.com

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.