“Company” or "Mexigold") announces that in connection with the consolidation of shares

MEXIGOLD CORP.

FOR IMMEDIATE RELEASE

Contact: Investor Relations August 9, 2016 Phone (604) 684-2181 [email protected]

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

Change of Name

Vancouver, BC – Tuesday, August 9, 2016 – Mexigold Corp. (TSXV – MAU.H) (the “Company” or "Mexigold") announces that in connection with the consolidation of shares announced on July 22, 2016, the Company's Board of Directors have determined to change the Company’s name to “Savannah Gold Corp.”. Subject to TSX Venture Exchange approval, the Company will, in connection with the change of name, change its stock symbol. Further information on the name change, symbol and consolidation will be announced at a later date.

ON BEHALF OF THE BOARD OF DIRECTORS

Praveen Varshney, FCPA, FCA President & CEO

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.

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