CONTACT: PADDY NICOL OR CHARLES FUNK 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 release.

910-850 WEST HASTINGS ST. VANCOUVER, BC V6C 1E1, CANADA TEL: 604.248.8648 FAX:

604.248.8663 WWW.EVRIMRESOURCES.COM

TSX-V: EVM

CONTACT: PADDY NICOL OR CHARLES FUNK

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 release.

Evrim Closes $4.3 Million Private Placement

Vancouver B.C. – May 23, 2017 : Evrim Resources Corp. (TSX.V:EVM) (“Evrim” or the “Company”) announces that,

further to its announcements on April 27 and May 1, 2017, the Company has closed the private placement. The

Company has issued 14,349,760 units (“Units”) at a price of $0.30 per Unit for gross proceeds of $4,304,928. Each

Unit consisted of one common share and one-half non- transferable share purchase warrant. Each whole warrant

(a “Warrant”) is exercisable into one common share at a price of $0.50 until May 19, 2020.

Finder’s fees of $179,400 were paid and 598,000 Finder’s warra nts (“Finder Warrants”) were issued to Sprott

Global Resource Investments, Ltd., Canaccord Genuity Corp ., Haywood Securities Inc., and PI Financial Corp. in

conjunction with the private placement. Each Finder Wa rrant is exercisable into one common share at a price of

$0.30 until November 19, 2018.

Proceeds from the private placement will be used for exploration and working capital purposes. The common

shares issued under the private placement, including any common shares issued on exercise of the Warrants and

Finder Warrants, will be subject to a four month restricted resale period that expires, with respect to resales in

Canada, on September 20, 2017, and applicable securities legislation hold periods outside of Canada.

Altius Minerals Corp. (TSX:ALS) (“Al tius”), Evrim’s largest shareholder, acquired 4,000,000 Units of the private

placement for an aggregate purchase price of $1,200,000. Th e acquisition has resulted in Altius beneficially

owning an aggregate of 11,452,875 shares, or 17.45% of Evrim’s outstanding shares, and 2,000,000 Warrants. In

the event Altius exercises its Warrants, Altius would own 13,452,875 shares of Evrim, representing 19.89% of the

outstanding Evrim shares determined on a partially dilute d basis assuming the exercise of Altius’ Warrants but no

other convertible securities of Evrim. Altius acquired the Units for investment purposes only and not with a view

to materially affecting control of Evrim. Altius’ address is Suite 202, 66 Kenmount Road, St. John’s NL, A1B 3V7.

The foregoing is subject to regulatory acceptance of the TSX Venture Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the

United States of America. The securities have not been and will not be registered under the United States

Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws and may not be offered

or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under

the U.S. Securities Act and applicable state securities laws , or an exemption from such registration requirement is

available.

About Evrim Resources

Evrim Resources is a mineral exploration company whose goal is to participate in significant exploration

discoveries supported by a sustainable business model. The Company has a diverse range of quality projects and

a database in Mexico and portions of southwestern United States. The existi ng projects, and generation of quality

exploration targets and ideas, are advanced through opti on and joint venture agreements with industry partners

to create shareholder value. Evrim’s business plan also includes royalty creation utilizing the Company’s

exploration expertise and existing projects.

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 release.

On Behalf of the Board

EVRIM RESOURCES CORP.

Paddy Nicol

President & CEO

To find out more about Evrim Resource s Corp., please contact Paddy Nicol, President or Charles Funk, VP New

Opportunities and Exploration at 604-248-8648, or visit www.evrimresources.com.

Forward Looking Information

This news release includes certain statements that may be deemed "forward looking stat ements". All statements in this news release, other than statements

of historical facts, that address events or developments that Evrim Resources Corp. (the "Company“) expects to occur, are forwa rd looking statements.

Forward looking statements are statements that are not historical facts and are gene rally, but not always, identified by the wo rds "expects", "plans",

"anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or condition s "will", "would", "may", "could"

or "should" occur.

Although the Company believes the expectations expressed in such forward looking statements are ba sed on reasonable assumptions , such statements are

not guarantees of future performance and actual results may diffe r materially from those in the forward looking statements. Fac tors that could cause the

actual results to differ materially from th ose in forward looking statements include market prices, exploitation and exploratio n successes, and continued

availability of capital and financing, and general economic, market or business conditi ons. Investors are cautioned that any su ch statements are not

guarantees of future performance and actual results or developments may differ materially from those projected in the forward looking statements. Forward

looking statements are based on the beliefs, estimates and opinions of the Company’s ma nagement on the date the statements are made. Except as

required by securities laws, the Company undertakes no obligation to update these forward looking statements in the event that management's beliefs,

estimates or opinions, or other factors, should change.