News Releases

July 14, 2015
Cortez Clarifies Disclosure
Vancouver, British Columbia - July 14, 2015. Cortez Gold Corp. ("Cortez" or the "Company") advises that as a result of a review by the British Columbia Securities Commission (BCSC), it is issuing the following news release to clarify certain prior disclosure.

The Corporate Finance Department of the BCSC randomly selected Cortez for a mining disclosure review, which included a review of Cortez's website. The BCSC noted that:

1. Cortez's corporate presentation (the "Presentation") located on the Company's website under the heading Investors - Presentations & Brochures, previously disclosed a detailed pro-forma income statement for the Altiplano Gold-Silver Processing Plant, and
   
2. this pro-forma statement, or projection, did not comply with Part 4A of National Instrument 51 102 Continuous Disclosure Obligations. In particular, the projection did not disclose the material factors or assumptions used to develop the projection, as required by Part 4A.3(c) of NI 51-102, or describe Cortez's policy for updating the projection, as required by Part 4A.3(d) of NI 51-102.

Cortez removed the Presentation from its website on May 28, 2015 during its discussions with the BCSC.

Although the Presentation has not been available since that date, Cortez hereby retracts the projections contained in its previous Presentation, and advises that because there were insufficient material factors and assumptions stated as the basis for developing and stating the projections, the projections should not be relied upon by any member of the public for any purpose.

ON BEHALF OF THE BOARD
of Cortez Gold Corp.

(sgd.) "Robert Eadie"
Robert Eadie, President

For further information please contact:
Robert Eadie, President
Tel: (604) 602-4935 • Fax: (604) 602-4936
Email: [email protected]

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.

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