Kapuskasing Gold Closes Private Placement

KAPUSKASING GOLD CORP.

133 Richmond Street West, Suite 501, Toronto, ON M5H 2L3 Canada TSXV: KAP

Kapuskasing Gold Closes Private Placement

October 30, 2017 – Kapuskasing Gold Corp. (TSX-V: KAP) (the “Company” or “KAP”) announces that

the Company has closed a non -brokered private placement of 2,220,000 units (the “ Units”) of the

Company at a price of $0.05 per U nit for gross proceeds of $ 111,000. Each Unit will consist of one

common share in the capital of the Company and one common share purchase warrant (a “Warrant”).

Each Warrant will be exercisable into one common share at $0.075 for a period of 12 months from the

closing of the financing.

All securities issued in connection with the Offering will be subject to a four month hold period expiring

on March 2, 2018 , in accordance with applicable Canadian securities laws. Net proceeds of the private

placement will be used for general working capital purposes and to advance the company’s mineral

properties.

On behalf of the Board of Directors,

Kapuskasing Gold Corp.

Jonathan Armes

President & CEO

Phone 1 (416) 708-0243

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 press release.