Aintree to Acquire Tonopah Gold Project

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AINTREE RESOURCES INC.

Suite 600 – 666 Burrard Street, Vancouver, B.C

Tel: 604 689 9600 Fax: 604 689-9610

FOR IMMEDIATE RELEASE: MARCH 24, 2017

Aintree to Acquire Tonopah Gold Project

VANCOUVER, BC – March 2 4, 2017 – Aintree Resources Inc. (TSX-V:AIN.H) (the

“Company” or “Aintree ”) is pleased to announce that its wholly -owned subsidiary, 0862130

Corp., has entered into an Asset Purchase Agreement with Midway Gold US Inc. (“Midway”) to

acquire the Tonopah Project, located near Tonopah, Nevada. Aintree will acquire the project by

assuming certain royalty and environmental obligations and by providing other valuable

considerations, including US$25,000 in cash payments. On June 22 nd, 2015, Midway filed a

voluntary petition for relief under chapter 11 of title 11 of the United States Code in the United

States Bankruptcy Court for the District of Colorado (the “Court”). On March 22 nd, 2017, the

Court issued an order authorizing the sale of the Tonopah Project by Midway to Aintree free and

clear of liens, claims and interests pursuant to applicable sections of the Bankruptcy Code.

The Tonopah Project is an advanced -stage exploration project located on the prolific Walk er

Land Trend of Western Nevada. Historic drilling programs on the Tonopah project have

completed a total of 282,765 feet on drilling in 478 reverse circulation and 146 core holes on the

property. A total of 9 mineralized zones have been broadly outlined. The Tonopah Project

consists largely of fault/fracture hosted mineralization formed near the contact of a Paleozoic

argillite and Tertiary felsic volcanics . Gold mineralization is associated with veins, breccias and

fractures, with lower -grade mineralization spreading vertically and espec ially laterally into the

surrounding rock. Higher grades appear to project along the same structures.

The Tonopah property consists of 444 unpatented mineral claims, 185 of which are subject to a

royalty interest. The property has been evaluated by past owners at various times for its open

pit potential and at other times for its underground potential due to the presence of high -grade

vein structures as well as lower -grade more disseminated mineralization around the vein

structures. Historical mineral res ource estimates have been published with either or both of

these targets in mind. The Tonopah Property was the subject of an independent 43 -101

technical report, prepared for Midway by Gustavson Associates, LLC (“Gustavson Associates”)

of Lakewood, Colorado, titled “ Technical Report on the Midway Project, Nye County, Nevada ”,

and dated April 1, 2011. That 2011 report is available under Midway’s SEDAR profile. No

drilling has been conducted on the property since 2011.

Aintree has also entered into a Royalty Deed Modification and Waiver of Claims Agreement with

underlying royalty holders on the Tonopah Project to waive certain claims by the royalty holders

against Midway, eliminate advance royalty payments, and to restructure an onerous sliding

scale Net Sme lter Royalty (“NSR”) into a flat 2.0% NSR structure. In exchange, Aintree paid

cash consideration of US$50,000 and 1.50 million shares of the Company.

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OR FOR DISSEMINATION IN THE UNITED STATES

The parties to the Asset Purchase Agreement and the Royalty Deed Modification and Waiver of

Claims Agreement are at arm’s length to Aintree, and to one another.

The formal completion of the above -described transactions remains subject to customary

regulatory approvals, including the acceptance of the NEX Exchange, and the consideration

shares will be subject to customary hold periods.

The Company intends to consolidate all available information on the property and has engaged

Gustavson Associates to prepare an updated NI 43 -101 compliant technical report to evaluate

that information, and to provide guidance on a forward-looking work program.

Technical information in t his release has been reviewed and approved by Mr. Donald E. Hulse

(P.E.), Principal Mining Engineer of Gustavson, and a "qualified person" as that term is defined

in NI 43-101. Mr. Hulse was one of four authors of the 2011 Technical Report.

On Behalf of the Board of Directors,

Aintree Resources Inc.

“Gary MacDonald”

Gary MacDonald

Director and CEO

Tel: 604 689 9600

Forward-looking Statement Cautions:

This press release contains certain “forward-looking statements,” within the meaning of Canadian

securities legislation relating to the contemplated acquisition, and future exploration and development, of

the Tonopah Project, and the completion of an updated NI 43 -101 compliant technical rep ort. They are

based on the beliefs, estimates and opinions of the Company’s management on the date the statements

are made, and they involve a number of risks and uncertainties. Consequently, there can be no

assurances that such statements will prove to be accurate, and actual results and future events could

differ materially from those anticipated in such statements. The Company undertakes no obligation to

update these forward-looking statements, if management’s beliefs, estimates or opinions, or other fac tors,

should change, unless required by law or securities exchange policies. Factors that could cause future

results to differ materially from those anticipated in these forward -looking statements include: the

Company’s need for and ability to obtain addit ional financing; the possibility that the Company may not be

able to secure permitting and other governmental clearances necessary to carry out the Company’s

exploration and development programs; and the other risk factors associated with mineral explorati on and

development, including those discussed in greater detail in the Company’s various filings on SEDAR

(www.sedar.com) with Canadian securities regulators.

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OR FOR DISSEMINATION IN THE UNITED STATES

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.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT

FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION

IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES

DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE

UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES

LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S.

PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.