Gem International Closed Private Placement and Granted Stock Options

Gem International Resources Inc.

3467 Commercial Street, Vancouver, B.C. V5N 4E8

Tel: (604) 871-9916 Fax: (604) 871-9926

TSX-V: GI

February 24, 2017

News Release

Gem International Closed Private Placement and Granted Stock Options

Vancouver, British Columbia, Canada, February 24, 2017 – Gem International

Resources Inc. (the “Company”) (TSXV: GI) has closed its non-brokered private

placement through the issuance of 18,000,000 units at a price of $0.05 per unit for gross

proceeds of $900,000. Each unit consists of one common share and one share purchase

warrant. Each whole share purchase warrant entitles the holder to purchase one common

share of the Company for a term of two years from the date of closing at a price of 15

cents per share. All of the securities issued under the private placement are subject to a

four-month hold period expiring June 24, 2017.

The Company also announces the granting of 2,370,000 incentive stock options to certain

directors, officers and consultants. These options are exercisable for up to three years at a

price of $0.10 per share.

Gem International Resources Inc.

“Simon Tam”

Simon Tam

Director

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 press release.