Standard & Poor’s Listed

12G3-2(b): 82-4000

Standard & Poor’s Listed

TSX Venture Exchange: GLB

OTC: GLBKF

October 4, 2017

$1,200,000 PRIVATE PLACEMENT FINANCING CLOSED

Goldbank Mining Corporation (“Goldbank”)(TSX.V-GLB) has closed its $1,200,000 private placement

comprised of 10,000,000 units at $0.12 per unit. Each unit consists of one common share and one -

half of one three -year transferable warrant with one warrant entitling the holder to purchase one

additional share at a price of $0. 18 per share. $441,000 was issued on a flow -through basis. The

flow-through shares comprising the 3,675,000 flow-through units and 1,837,500 flow-through shares

issuable upon exercise of the warrants comprising the flow -through units will entitle holder s to

receive th e tax benefits applicable to flow -through shares in accordance with provisions of the

Income Tax Act (Canada).

The subscription by three insiders of Goldbank, for 5,200,000 units or $624,000, comprising 52% of

the total amount raised, constitute s a related party transaction within the meaning of TSX Venture

Exchange Policy 5.9 and Multilateral Instrument 61 -101 Protection of Minority Security Holders in

Special Transactions (“MI 61 -101”). Goldbank is relying on the exemptions contained in sections

5.5(a) and section 5.7(1)(a) as the fair market value of the participation in the private placement by

the insiders does not exceed 25 per cent of the market capitalization of Goldbank, as determined in

accordance with MI 61 -101. Goldbank’s board of directors an d specifically the independent

members of the board , as applicable, carefully reviewed and approved the private placement

subscriptions by the insiders. Goldbank did not file a material change report in respect of the related

party transaction at least 21 days before closing of the private placement as the date of closing was

not previously known.

The flow-through proceeds will be used for exploration on Goldbank’s Leota claims in the Klondike

Goldfields, Yukon Territory, Canada. Non-flow-through proceeds will be used for working capital and

repayment of existing liabilities. The terms of the financing have been accepted for filing by the TSX

Venture Exchange. The units are restricted from trading until February 5, 2018.

Goldbank Mining Corporation is a Canadian exploration company actively exploring for gold in the

Klondike Goldfields near Dawson City, Yukon, Canada.

For further information please e-mail [email protected].

GOLDBANK MINING CORPORATION

PER: “James Boyce” Suite 702 – 889 West Pender Street

Vancouver, BC CANADA V6C 3B2

JAMES BOYCE Telephone: 604.683.3288

President & CEO Toll Free: 1.888.880.2288  Email: [email protected]

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no

right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in

documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of

mineral deposits on our properties. This news release may contain forward -looking statements including but not limited to

comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles,

potential mineral recovery processes, etc. Fo rward-looking statements address future events and conditions and therefore

involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.