Final Tranche of Private Placement Closed

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March 7, 2014 NEWS RELEASE - #14-03 TSX- V: GRR

FINAL TRANCHE OF PRIVATE PLACEMENT CLOSED

Golden Reign Resources Ltd. (the “Company” or “Golden Reign”)(TSX-V: GRR), is pleased to announce that it has closed the second and final tranche of its previously announced non-brokered private placement consisting of 4,349,112 units at a price of $0.17 per unit to raise gross proceeds of $739,349. Each unit is comprised of one common share and one share purchase warrant which entitles the holder to purchase an additional common share a price of $0.25 for a period of two years. In connection with the offering, the Company has agreed to pay finder’s fees of $6,978 cash and 10,200 warrants priced at $0.25 per share exercisable for a period of two years. The common shares issued pursuant to this private placement are subject to a four month hold period. The placement and payment of the finder’s fees are subject to acceptance by the TSX Venture Exchange.

Proceeds of the placement will be applied to costs related to the San Albino-Murra Gold Property in Nicaragua and for general working capital.

Insider Participation in Offering

John Conlon participated in the private placement by subscribing for, in his personal name and via an entity beneficially owned by him, an aggregate of 1,119,196 units for aggregate proceeds of $190,263. The participation by the director is considered a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The transaction is exempt from the formal valuation and minority shareholder approval requirements under MI 61-101 as neither the fair market value of the units issued to, nor the consideration paid by, the related parties exceeded 25% of the Company's market capitalization.

On behalf of the Board,

“Kim Evans”

Kim Evans, CGA President & CEO

For additional information please visit our website at www.goldenreign.com and SEDAR www.sedar.com.

Neither the 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.