AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN Update on Transatlantic Mining Corp. Private Placement and US Grant Property

Transatlantic Mining Corp. | Suite 800 | 1199 West Hastings Street | Vancouver | Canada V6E 3T5

T 604-424 8257 | F 604-357 1139| www.transatlanticminingcorp.com

THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE

SERVICES OR FOR DISSEMINATION IN THE UNITED STATES AND DOES NOT CONSTITUTE

AN OFFER OF THE SECURITIES DESCRIBED HEREIN

Update on Transatlantic Mining Corp. Private Placement and US Grant Property

TCO NEWS RELEASE - VANCOUVER, B.C., July 19, 2017 – Transatlantic Mining Corp. (the “Company”)

(TCO:TSX.V) provides the following update with respect to the private placement financing and

property acquisition originally announced May 17, 2017.

Private Placement

The Company will not proceed with the private placement originally announced on May 17, 2017. The

Company will now conduct a financing to raise up to $5,000,000, with the potential for

oversubscriptions of up to an additional $2,500,000 as set forth in the following, which will proceed

in two phases.

The first phase of the financing will c onsist of the private placement of subscription receipts to raise

up to $2,200,000 by the issue of 22,000,000 subscription receipts at $0.10. The proceeds of $2,200,000

will be placed in escrow to be used to make the first instalment payment to acquire the US Grant

Mine, as referred to hereafter. Upon closing of the US Grant acquisition, the 22,000,000 subscription

receipts will be automatically converted into the same number of units for no additional

consideration. Each unit will consist of one common share of the Company and one share purchase

warrant, with each warrant entitling the holder to purchase one additional common share at a price

of $0.15, exercisable for one year from the date of closing. Should the US Grant acquisition not close

for any reason, the subscription proceeds will be returned to the investors.

The second phase of the financing will consist of the private placement of units to raise an additional

$2,800,000 by the issue of 28,000,000 units at $0.10 having the same terms and conditions as the

units issuable on the conversion of the subscription receipts. The Company will entertain

oversubscriptions to raise up to an additional $2,500,000 by the issue of an additional 25,000,000 units

on the same terms.

Finders’ fees payable in cash and/or securities may be paid in connection with the offering. In addition

to funding the acquisition of the US Grant Mine, the proceeds of the offering will be used for the

purposes set forth in the May 17, 2017 news release. The offering is subject to the approval of the TSX

Venture Exchange.

The securities offered have not been and will not be registered under the U.S Securities Act of 1933,

as amended, and may not be offered or sold in the United States absent registration or an applicable

exemption from registration requirements.

Page 2 of 2

Debt Settlement

The Company will settle debt of up to $2,000,000 by the issuance of common shares at a price of

$0.10, resulting in the issuance of up to 2 0,000,000 common shares. A portion of the debt will be

settled with non-arm’s length parties who will receive shares only. Arm’s length parties may receive

units at $0.10, with each unit consisting of one common share and one warrant entitling the holder to

purchase one additional common share at a price of $0.15, exercisable for one year. The debt

settlement is subject to the approval of the TSX Venture Exchange.

US Grant Mine

The Company is proceeding with the closing of its acquisition of the U.S. Grant Mine , with closing

documents in progress . In order to effect the closing, the Company must p ay to the vendors

US$1,650,000, which will be funded through the private placement of subscription receipts referred

to in the foregoing. Under the original Mining Lease and Option to Purchase Agreement, the Company

will be required to make a further payment of US$2,000,000 on the first anniversary of closing, and a

further US$2,000,000 on the second anniversary of closing . The remaining payments will be secured

by a mortgage on the property in favour of the vendors.

About Transatlantic Mining Corp.

Transatlantic Mining (TSX-V: TCO) is an emerging precious and base metal explorer and developer.

The Company has a focus on operating in stable mining jurisdictions. The Company is engaged in

controlling and owning mineral properties interests, such as the 80% owned Monitor Copper-Gold

project in Idaho (USA).

In January 2016, the Company entered a lease/purchase option agreement on 100% of the US Grant

Gold-Silver Mine & Mill project in Montana (USA). The management team seeks to enhance

shareholder value through exper t exploration/development and expansion of its existing assets,

together with selective and future earning accretive acquisitions.

For further information please contact: Bernie Sostak +61 (0) 439 904 044

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 release