Goldstrike Announces Option Grant / Extension Application

NEWS RELEASE

GOLDSTRIKE ANNOUNCES OPTION GRANT / EXTENSION APPLICATION

April 20, 2016 - Goldstrike Resources Ltd. (TSXV: GSR) has granted incentive stock options exercisable to purchase up to an aggregate of 1,000,000 shares of the Company to its Chief Financial Officer. All of the options are exercisable at the price of $0.17 per share until April 20, 2026, subject to earlier termination in accordance with their terms.

In addition, the Company intends to apply to the TSX Venture Exchange for consent to extend the exercise terms of 400,000 options held by two consultants from August 5, 2016 to August 5, 2021 and the exercise term of an additional 100,000 options held by a third consultant from October 17, 2016 to October 17, 2021, subject in each case to earlier termination in accordance with their terms. The exercise price of all such options will increase from $0.10 per share to $0.17 per share at the commencement of the extended term.

All option grants and extensions are subject to acceptance by the TSX Venture Exchange. As the exercise price of the subject options has been set above the Market Price of the Company’s shares, any shares issued pursuant to the exercise of such options will not be subject to the four month Exchange hold period that applies to shares issued on exercise of options priced below the Market Price.

ON BEHALF OF THE BOARD

Terrence E. King

President and Chief Executive Officer

For information on the Company`s projects, please visit its website at GoldstrikeResources.com. For further information follow the Company’s tweets at Twitter.com/GoldstrikeRes or contact Jeff Stuart of King James Capital Corporation, handling Investor Relations for the Company, by telephone at (604) 210- 2150 or by email at [email protected].

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.