GSS.V · 2017-02-09 12:00:00

Early Warning - Gossan CEO Shareholdings Exceed 16.3% of Shares Outstanding

Corporate Updates

NEWS RELEASE 17-01

February 9, 2017 – Gossan Resources Limited (GSS-TSX.V & GSR -Frankfurt/Freiverkehr &

Xetra) has been advised by its CEO, Douglas Reeson, that he purchased a material number of

shares on February 9th, and now holds 5,418,000 common shares or 1 6.3% of the shares issued

and outstanding. Mr. Reeson purchased these shares for investment purposes and has no present

intention to acquire ownership of, or control o ver, additional securities of Gossan, but may

choose to acquire additional securities of the Company in the future for investment purposes. Mr.

Reeson also holds 580,000 options to acquire an additional 580,000 common shares of Gossan.

This news release is being issued pursuant to National Instrument 62 -103 The Early Warning

System and Related Take -Over Bid and Insider Reporting Issues of the Canadian Securities

Administrators. A copy of the report filed by Reeson in connection with the shares purchased is

available on the Company’s SEDAR profile.

Gossan Resources Limited is engaged in mineral exploration and development in Manitoba and

northwestern Ontario. It has a well -diversified portfolio of properties hosting gold, platinum

group and base metals , as well as the specialty and minor metals, vanadium, titanium, tantalum,

lithium and chromium. The Company also has a large deposit of high -purity, magnesium-rich

dolomite and various financial interests in a frac sand deposit. Gossan acquired a new property in

the zinc -rich polymetallic Sturgeon Lake Greenstone Belt in northwestern Ontario , where it

recently completed a geochemical survey. The company trades on the TSX Venture and the

Frankfurt/Freiverkehr&Xetra Exchanges and currently has 33,170,400 c ommon shares

outstanding.

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 news release.

For further information, please bookmark www.gossan.ca or contact:

Douglas Reeson, Chairman & CEO

Gossan Resources Limited

Tel: (416) 533-9664