KDK.V · 2018-01-31 12:00:00

Solstice Gold Raises $8.37 Million as Dunnedin Completes Spin Out of Gold Assets at Kahuna Project

Mergers & Acquisitions

Solstice Gold Raises $8.37 Million as Dunnedin

Completes Spin Out of Gold Assets at Kahuna Project

Vancouver, British Columbia--(Newsfile Corp. - January 31, 2018) - Dunnedin Ventures Inc.

(TSXV: DVI) (the "

Company

today announced it has completed its previously announced plan of arrangement (the "

Arrangement

"), involving the spinout of

the Company's wholly-owned subsidiary Solstice Gold Corp. ("

Solstice

").

Under the terms of the Arrangement, one common

share of Solstice was distributed for every three common shares of the Company outstanding as of July 17, 2017.

In addition,

the Company completed a reorganization of its share capital such that all existing common shares of the Company were

reclassified as "Class B Common Shares".

The Arrangement was approved by the shareholders of the Company, and the

Supreme Court of British Columbia, on December 22, 2017.

Solstice holds the Company's gold mineralization rights, including 66 full claims and one-half of 12 additional claims covering the

Kahuna Project ("

Kahuna

").

The property interests comprise a district scale land package of 806 square kilometres adjacent to

claims controlled by Agnico Eagle Mines Ltd. which host the world class Meliadine Deposits, and exclusive secondary rights on

an additional 858 square kilometres.

Kahuna is located in Nunavut, Canada approximately 26 kilometres from Rankin Inlet.

Concurrent with completion of the Arrangement, Solstice has completed a non-brokered private placement financing consisting

of both units (the "

Units

") and flow-through shares (the "

Flow-Through Shares

") for a gross amount of $8,376,400.

Solstice

issued a total of 26,534,400 Units at a price of $0.25 per Unit.

Each "

Unit

" consists of one common share and one-half-of-one

warrant.

Each whole warrant entitles the holder to purchase a further common share of Solstice at a price of $0.35 for a period of

thirty months.

Solstice has also issued 5,809,334 Flow-Through Shares at a price of $0.30 per Flow-Through Share.

Solstice

Management and Board participated for a total of 6.5% of the financing.

The net proceeds from the financing will be used for exploration activities on Solstice's Kahuna project and for general corporate

purposes.

In connection with the financing, Solstice paid finders' fees of $334,914 and issued 636,722 broker warrants to

unrelated parties.

Each broker warrant entitles the holder to purchase one common share of Solstice at a price of $0.30 for a

period of thirty months.

David Adamson, Executive Chairman of Solstice, stated, "Solstice management would like to thank Dunnedin for recognizing

the potential gold value in the Kahuna Project and undertaking the spin-out.

We would also like to thank our investors for their

strong support.

We believe that the extensive Kahuna project has already demonstrated the presence of gold over a large area.

We are currently formulating plans for 2018 aimed at defining drill targets and further evaluating our district-scale land package."

Further details of the Kahuna gold project can be found at

www.soltsicegold.com

Chris Taylor, CEO of Dunnedin, stated, "We at Dunnedin are confident that Kahuna's impressive gold potential will be unlocked

by the experienced and capable management team at Solstice.

As we move into active 2018 exploration programs, we look

forward to delivering shareholder value as Dunnedin and Solstice advance both the diamond and gold assets of the Kahuna

project."

For further information concerning the Arrangement, readers are encouraged to review the management information circular

prepared by the Company in connection with the shareholder meeting held to approve the Arrangement.

A copy of the circular is

available under the Company's profile on SEDAR (

www.sedar.com

Dunnedin has also granted an aggregate of 2,240,000 stock options to management, directors and consultants of the Company,

exercisable at $0.24 per share for a period of five years.

Mr. Jeff Ward, P.Geo, is the qualified person responsible for the technical content of this news release.

For further information please contact Mr. Knox Henderson, Investor Relations, at 604-551-2360.

On behalf of the Board of Directors

Dunnedin Ventures Inc.

Chris Taylor

Chief Executive Officer

About the Kahuna Project

Dunnedin's primary asset is its 100% owned Kahuna diamond project.

Kahuna is an advanced stage high grade diamond

project located near Rankin Inlet, Nunavut.

Dunnedin is now recovering diamonds and indicator minerals from a series of

kimberlite and till samples collected from three seasons of field work.

An Inferred Resource released by Dunnedin showed over

4 million carats of macrodiamonds (+0.85 mm) at a grade of 1.01 carats per tonne had been defined along the partial strike

length of the Kahuna and Notch kimberlite dikes through shallow drilling, and remains open to extension.

The largest diamond

recovered was a 5.43 carat stone from the Kahuna dike which was a piece of a larger diamond that had been broken during the

sample preparation process and was reconstructed as having an original size of 13.42 carats.