San Gold Corporation

Published : April 29th, 2017

Barisan Gold Corp. Announces Completion of Consolidation, Private Placement and Acquisition

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Re:        News Releases - Friday, April 28, 2017
Title:     Barisan Gold Corp. Announces Completion of Consolidation, Private Placement and Acquisition

Barisan Gold Corporation (TSXV-BG) (the "Company") is pleased to announce that on May 2, 2017 the Company shall complete of its previously announced consolidation, private placement and acquisition of the Railroad Valley lithium brine property located in Nevada, and the Black Canyon lithium clay property located in Arizona.

Consolidation

The Company shall complete the consolidation of the Company's issued and outstanding common shares (the "Common Shares") on the basis of one (1) post-consolidation Common Share for every five (5) pre-consolidation Common Shares (the "Consolidation"). The Board concluded that the Consolidation would be in the best interests of the Company's shareholders as it could lead to increased interest by a wider investor audience and better position the Company to obtain financing and pursue acquisition opportunities.

Private Placement

Further to the Company's news releases dated September 8, 2016 and March 21, 2017, the Company shall complete a private placement of 7,500,000 units, on a post-consolidated basis, at a price of $0.10 per unit for gross proceeds of $750,000. Each unit comprises of one common share of the Company and one non-transferable common share purchase warrant. Each common share purchase warrant is exercisable to acquire one additional common share of the Company for a period of 24 months at a post consolidated price of $0.15 per share purchase warrant.

The Company shall pay a finder's fee of $800 in connection with the private placement. The Company intends to use the proceeds from the private placement to finance exploration on the Railroad Valley lithium brine property, and the Black Canyon lithium clay property, and to review and assess additional technology metal natural resources exploration and development properties as well as general administrative purposes.

Acquisition of Railroad Valley Lithium Property and the Black Canyon Lithium Property

Further to the Company's news release dated July 18, 2016, the Company shall complete the acquisition from DG Resource Management Ltd. ("DGRM") and Arizona Lithium Company Limited ("ALCL") of the Railroad Valley Lithium Property located in south-central Nevada and consisting of 199 placer claims totalling 9,835 acres (the "Railroad Valley Lithium Property") and the Black Canyon Lithium Property located in central Arizona and consisting of two exploration permit applications totalling 360 hectares (the "Black Canyon Lithium Property").

Pursuant to a property purchase agreement among the Company, DGRM and ALCL dated July 15, 2016, the Company shall have paid $100,000 to DGRM and shall issue 4,133,723 common shares, representing 19.99% of the issued and outstanding shares of the Company.

Concurrent with the foregoing, the Company shall change its name to Lithion Energy Corp. with the trading symbol "LNC".


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.

To receive or stop receiving BG news via email, please email info@barisangold.com and state your preference in the subject line.



FOR FURTHER INFORMATION, visit the Company's website at www.barisangold.com, or contact the company at: Vancouver T: +1 604 365 6681 E: info@barisangold.com

Caution Regarding Forward Looking Statements
Certain statements in this News Release, which are not historical in nature, constitute "forward looking statements" within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company's performance or events as of the date hereof. These statements reflect management's current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; and general market and mining exploration risks. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.

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San Gold Corporation

PRODUCER
CODE : SGR.V
ISIN : CA79780P1045
CUSIP : 797902
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San Gold Corp. is a gold producing company based in Canada.

San Gold Corp. holds various exploration projects in Canada.

Its main asset in production is RICE LAKE in Canada and its main exploration properties are STRIKE POINT, SG-1 MINE, CARTWRIGHT, HINGE MINE and 007 ZONE in Canada.

San Gold Corp. is listed in Canada and in United States of America. Its market capitalisation is CA$ 1.9 millions as of today (US$ 1.5 millions, € 1.3 millions).

Its stock quote reached its highest recent level on May 14, 2010 at CA$ 5.00, and its lowest recent point on July 13, 2015 at CA$ 0.01.

San Gold Corp. has 374 769 984 shares outstanding.

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Annual reports of San Gold Corporation
2007 Annual Report
Financings of San Gold Corporation
9/13/2013Announces Closing of Private Placement Offering
Nominations of San Gold Corporation
2/24/2014Barisan Gold Appoints Peter Akerley To Its Board Of Director...
10/25/2013Barisan Gold Appoints Manager Investor Relations
9/4/2013Appoints Greg Gibson as Director
7/2/2013Announces Voting Results from Election of Directors
Financials of San Gold Corporation
5/10/2013Reports 2013 First Quarter Results
Project news of San Gold Corporation
1/30/2014(Rice Lake)Expands New High Grade Gold Zone at Deep Rice Lake
1/29/2014Barisan Gold Commences Drilling Hole Utd-005 at Upper Tengke...
1/24/2014Reports 2013 Production Results
12/21/2013Completes Acquisition of Atikwa Claims
11/20/2013(Rice Lake)Confirms High Grade at Deep Rice Lake
11/4/2013Announces High Grade Drill Results at Depth
10/16/2013Reports 2013 Q3 Production Results
9/6/2013Barisan Gold Begins Drilling at Upper Tengkereng
7/15/2013Barisan Gold Provides Update on Exploration & Permitting Act...
7/11/2013Reports 2013 Q2 Production Results
4/24/2013Intersects New Zone at Depth
2/20/2013Barisan Gold Completes Extension Of Exploration Licenses
1/3/2012Barisan Gold Initial Abong Resource to be Released on Januar...
4/27/2011Completes Crusher Installation, Increases Mill Throughput
4/8/2011(007 Zone)drills 6.3 m of 51 g/tonne
4/5/2011(Rice Lake)produces 14,690 oz Au in Q1
2/25/2011(Strike Point)/STRIKEPOINT INTERCEPTS SHORELINE BASALT ON JOINT VENTURE
2/17/2011(Rice Lake)Finds Deep Extensions to 007 and L10 Zones
1/12/2011(007 Zone)drills 8.3 m of 31 g/t Au at 007
4/22/2010(Rice Lake)drills 13.3 m of 120.9 g/t Au at Rice Lake
3/31/2010(Rice Lake)drills 8.2 m of 37 g/t Au at Rice Lake
1/25/2010(Rice Lake)Drills 2.4 oz/ton over 21 ft at Rice Lake
1/20/2010(Rice Lake)drills 1.07 oz/ton over 40 ft --- Mining face samples 26.5 o...
9/17/2009(Strike Point)And StrikePoint enter Strike Point Property Letter Agreement
2/19/2009(Rice Lake)San Gold drills 28 g/t Au over 8.2 m at Hinge No. 4
2/10/2009(Rice Lake)More High Grade at Rice Lake
12/2/2008(Rice Lake)Deep Drilling Encounters New Massive High Grade Zones
11/10/2008New High Grade Gold Intersections Including Summary of Hinge...
7/30/2008HIGH GRADE HINGE #4 ZONE EXTENDED
6/18/2008HIGH GRADES AND EXCELLENT WIDTH AT DEPTH WITH HOLE #37
5/28/2008(Rice Lake)drills 56.7 g/t Au over 4.0 m on Hinge No. 4
5/21/2008(Rice Lake)drills 6.22 m of 85.1 g/t Au at Hinge No. 4
4/23/2008(Rice Lake)drills 1.5 m of 60.6 g/t Au at Hinge zone
2/26/2008(Rice Lake)drills 5.4 m of 31.1 g/t Gold at Rice Lake
2/19/2008(Rice Lake)Drilling Extends New Hinge #3 Zone for San Gold
1/15/2008(Rice Lake)NEW DISCOVERY OF MULTIPLE GOLD ZONES NEAR RICE LAKE MINE
3/23/2007(Rice Lake)HIGH GRADE DEVELOPMENT
Corporate news of San Gold Corporation
6/23/2015San Gold Announces Sale of Assets to Secured Creditors
6/22/2015IIROC Trading Halt - SGR, SGR.DB
4/22/2015San Gold Obtains Order to Extend Time to File Proposal
4/16/2015San Gold Expands Short-Term Operational Changes
3/31/2015San Gold Updates Mineral Reserves and Resources
3/30/2015San Gold Reports 2014 Annual and Fourth Quarter Results
2/21/2014Announces a 60% Increase in Mineral Reserves
12/3/2013Renegotiates Atikwa Option Agreement
9/12/2013Announces Board Changes
9/5/2013Receives Revised Environment Act Licence
8/22/2013Barisan Gold Notice of Warrants Expiry
8/22/2013Barisan Gold Provides Update on Abong Permitting
7/29/2013to Release Q2 Results on August 13
7/18/2013Acquires Mineral Claims from Wildcat
6/18/2013Mourns the Passing of Rod Bushie
5/22/2013Announces Changes to its Board of Directors and the Acquisit...
8/4/2010completes $84.53-million bought-deal offering
6/10/2010extends 007 zone, drills 95 g/t Au over 2.1 m
3/1/2010Presents Initial Mineral Resource Estimates for Hinge and 00...
11/13/2009First Operational Profit
10/29/2009Launches Timmins exploration subsidiary
9/15/2008HINGE ZONE INTERSECTED 1500 METERS BELOW SURFACE
8/6/2008drills 6.4 m of 27.84 g/t Au at Rice Lake
7/22/2008Acquires Additional Gold Properties Near Timmins
3/11/2008 ACQUIRES STRATEGIC GOLD PROPERTY IN TIMMINS
3/13/2007drills 4.7 m of 13.7 g/t Au at Rice Lake
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