Gossan Grants Stock Options

NEWS RELEASE 17-03

Gossan Grants Stock Options

April 3, 2017 – Gossan Resources Limited (GSS-TSX.V & GSR-Frankfurt/Freiverkehr &

Xetra) has awarded 990,000 incentive stock opti ons to officers, directors, employees and

consultants of the Company. This grant of opt ions is in compliance with the terms of the

Company’s Stock Option Plan and remains subject to the acceptance of the TSX Venture

Exchange.

Four officers and directors were granted a total of 600,000 stock options: 270,000 options

exercisable at $0.08 per share with an expi ry of September 21, 2018; and 330,000 options

exercisable at $0.08 per share with an expiry of March 21, 2020. Employees and consultants

were granted a total of 390,000 stock options: 180,000 options exercisable at $0.08 per share with

an expiry of September 21, 2018; and 210,000 opt ions exercisable at $0.08 per share with an

expiry of March 21, 2020. A grant of 160,000 opti ons is subject to vesting Quarterly. This grant

of options was awarded after the close on April 3, 2017.

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

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

group and base metals, as well as the specialty an d 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 Green stone Belt in northwestern Ontario which is

permitted for a drill program. The Company trades on the TSX Venture and the

Frankfurt/Freiverkehr&Xetra Exchanges a nd currently has 33,170,400 common 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

E-Mail: [email protected]

Kathy Ringland, Office Manager

Tel : (204) 943-1990