RENO, NV / ACCESSWIRE / May 15, 2015 / Renaissance Gold Inc. (REN.TO) ("RenGold" or the "Company") reports financial results for the nine months ended March 31, 2015. Details of the Company's financial results are described in the unaudited condensed consolidated interim financial statements (the "Financial Report") and corresponding management discussion and analysis for the same period. These and further details on each of RenGold's projects and activities can be found on the Company's website at www.rengold.com and on the Company's profile on www.sedar.com. All amounts presented are in Canadian dollars unless otherwise stated.

Selected financial data

The following selected financial data is derived from the Financial Report as prepared in accordance with International Financial Reporting Standards.

The consolidated net loss for the nine months ended March 31, 2015 was $1,267,054 (2014 - $1,544,945).

Cash at March 31, 2015, was $2,115,574. This amount includes $202,389 of cash advances received from earn-in partners which is included in trade and other payables.

Total assets at March 31, 2015 are $2,957,586 of which $2,211,431 are current assets and $746,155 are exploration and evaluation assets, equipment, investment in private corporation and reclamation bonds.

Operations

RenGold is an exploration stage business engaged in the acquisition and exploration of mineral properties located in Nevada and Utah.RenGold's business model is to identify and secure mineral resource properties for which it seeks suitable joint venture partners. Once partners are found, an exploration and option to earn-in agreement is entered into on the property enabling the earn-in partner to obtain an interest by conducting and funding exploration on that property.

The level of the Company's exploration expenditures is largely determined by the strength of the resource capital and commodity markets and its ability to obtain funding partners and investor support for its projects. The Company anticipates there will be less capital available for exploration joint ventures in the immediate future. RenGold is therefore concentrating activities in Nevada and Utah to upgrade current projects and identify targets with significant growth potential. Accordingly, RenGold sold its Argentine subsidiary in February 2014, sold its Spanish subsidiary in August 2014, and dissolved its Chilean subsidiary in September 2014.

Exploration expenditures on RenGold projects for the nine months ended March 31, 2015, totaled $964,103 (2014 - $1,334,681). Of this amount partners funded $708,395 (2014 - $766,371) and RenGold funded the balance of $255,708 (2014 - $568,310). In addition to the exploration expenditures recorded in RenGold's accounts, funding partners also conducted additional exploration programs directly on RenGold's projects as required under the particular exploration earn-in agreements.

In February and March, 2015, the Company entered into four new exploration funding agreements on the Arabia, Golden Shears and Silicon projects in Nevada and the Wildcat project in Utah. In the third quarter the Company received US$70,000 in option payments related to these agreements, and subsequent to March 31, 2015, the Company received an additional US$78,000.

Overall Performance

At the date of this press release, RenGold has six properties under exploration earn-in agreements:

The highlights of activity by RenGold and its funding partners on its exploration properties during the nine months ended March 31, 2015 and to the date of this press release follow in alphabetical order.

Nevada projects with funding partners:

Arabia

On February 24, 2015, the Company signed a letter of intent to enter into an earn-in agreement with Coeur Mining, Inc. ("Coeur"). Subsequent to March 31, 2015, and pursuant to the letter of intent, Coeur paid the Company US$78,000 and reimbursed the Company for certain exploration costs incurred by the Company on behalf of Coeur. The terms of the earn-in agreement when executed will require Coeur to pay Rengold escalating anniversary payments of US$50,000 up to a total of US$325,000. Minimum work commitments are US$100,000 for the first two years with the first year being an obligation, US$200,000 in the third year and US$500,000 each anniversary through the tenth year. Upon completing a bankable feasibility study, Coeur will have vested a 70% undivided interest in the project.If Coeur terminates the option after expending more than US$3 million then Coeur will be entitled to a 3% NSR royalty capped at twice the amount of Coeur's investment prior to termination.

The Arabia Project is a consolidation of the polymetallic Arabia District. It is aseries of mesothermal quartz veins that may be intrusion related or orogenic in origin. It is composed of 15 patents and BLM mining claims. Historic mining records indicate high grades of lead, silver, antimony and gold. Sampling by RenGold has yielded results from below detection up to 30.1% Pb, 1811.5 ppm Ag, >1.5% Sb and 18.9 ppm Au.

Coeur has already funded a new gravity and airborne magnetic and radiometric campaign over the district. Results indicate that the mineralization, dominantly hosted by granodiorite, has roots and is not limited by thrust faulting.

Fourth of July

In October 2014, RenGold staff completed a three core hole 2,009 foot drill program at the Fourth of July project in the Humboldt Range of Pershing County Nevada funded by Summit Mining Exploration II, Inc., ("Summit II") a US subsidiary of Sumitomo Corporation. This initial phase of drilling was a small campaign of 3 core holes to determine the architecture of this complex system as a precursor to a substantially larger drill program later in 2015. This initial phase tested the concept that the graben-bounding faults were conduits for the mineralizing fluids that formed the flat veins of the Arizona Mine and several other smaller mines nearby. Assay results of the drillingidentified several anomalous zones of silver and/or gold that will assist in defining drill targets for the next phase of drilling. Drill hole penetrations (1) defined the geometry of the graben-bounding structures, (2) defined the depth and geometry of the unconformity between the overlying limestone and the older rhyolite, (3) identified the presence of multiple generations of mineralization and intrusion and (4) identified the presence of strong alteration and mineralization in the rhyolite units within the Arizona Graben. Regional surface geochemistry indicates a zoned intrusion related system that focuses silver within the Arizona and Wheeler Mines and a peripheral high gold signature to the east and west. Summit II has indicated its intention to maintain the option and fund a program in 2015.

Golden Shears

On March 25, 2015, the Company entered into an exploration earn-in agreement with Walmer Capital Corp. ("Walmer"). The agreement requires a down payment of US$50,000 (US$20,000 received), plus cost of claim fees paid in 2014 of US$33,426, within six months of execution and annual exploration commitments of US$200,000 first year, US$300,000 second year, US$400,000 third year and US$500,000 fourth through seventh years, to earn a 70% interest in the property. A bankable feasibility study is also required and if not completed at the end of seven years Walmer can extend the option period for another five years by spending US$1,000,000 per year on the property and by paying the Company US$100,000 per year in each of the years in this subsequent option period. If Walmer terminates the option after expending more than US$3 million then Walmer will be entitled to a 3% NSR royalty capped at twice the amount of Walmer's investment prior to termination.

The Golden Shears Project is a series of precious and base metal rich occurrences on the east side of the Goodsprings District, partially hosted in a shear zone and related to a string of shallow intrusions mostly interpreted through recent ground geophysics and mapping completed by RenGold. This zone is > 2.5 km (1.5 miles) in strike length. Sampling by RenGold on the property has yielded assays from below detection up to 5.1 % Zn, 2.62 % Pb, 4.3 % Cu, 937 ppm Ag, and 14.3 ppm Au.

The Goodsprings Mining District is unusual for Nevada in that it includes Zn and Pb Mississippi Valley-type deposits, Cu sometimes associated with precious metals and platinum group elements, and gold + silver deposits associated with late (Triassic) porphyritic dikes.

Golden Shears contains high grades of precious and base metal mineralization in a zone with significant strike length. In addition, the targets are shallow and should allow extensive testing at relatively low cost. A geologist, has been engaged by Walmer, to write a technical report, compliant with NI 43-101, based on recent field work to raise capital for the project. A minimum of US$200,000 will be spent this year with the anticipation of this amount increasing substantially with a drill program later this year.

Silicon

RenGold's Silicon property is in the Bare Mountain Mining District of southern Nevada. The property consists of unburdened claims on federal BLM ground. RenGold is advancing the Silicon property with Callinan Royalties Corporation ("Callinan") funding a $140,000 work program in exchange for a 1.5% NSR royalty. Field work has commenced and will be followed by a gravity survey. Silicon is an epithermal project in a productive district. The property has been underexplored and holds large deposit potential. The ultimate objective is to do enough geoscience work on the project to attract a partner who will enter into a standard joint venture agreement by funding exploration to earn an interest in the project.

Trinity Silver

In fiscal 2013, Liberty Silver Corp. ("Liberty Silver") completed their work commitment of US$5,000,000 on the Trinity Silver project located in Pershing County, Nevada. In addition to the US$5,000,000 work commitment, Liberty must complete a bankable feasibility study by March 29, 2017 to earn an undivided 70% interest in the property. Metallurgical studies are continuing in preparation of a preliminary economic assessment on the oxide deposit and this will be used to generate financing for development of the oxide deposit. Liberty Silver reports that it is planning to do Preliminary Economic Assessment level work on the project this year.

Wildcat

On February 23, 2015, the Company entered into an exploration earn-in agreement with Troymet USA LLC ("Troymet"). The agreement requires a down payment of US$50,000 (received), plus cost of claim fees paid in 2014 of US$8,219 (received) and annual exploration commitments of US$50,000 first year, US$250,000 second year, US$350,000 third year and US$500,000 fourth through seventh years, to earn a 70% interest in the property. A bankable feasibility study is also required and if not completed at the end of seven years Troymet can extend the option period for another five years by spending US$1,000,000 per year on the property and by paying the Company US$100,000 per year in each of the years in this subsequent option period. If Troymet terminates the option after expending more than US$3 million then Troymet will be entitled to a 3% NSR royalty capped at twice the amount of Troymet's investment prior to termination.

Wildcat lies in the Detroit Mining District, an historic gold producing region in the northern Drum Mountains of central Utah. Surface samples of over 4 ounces per ton gold have been obtained from jasperoid outcrops. The best drill hole at Wildcat to-date, completed by Gold Fields Mining Corp. in the 1980's, reported an intercept of 75 feet of 0.037 opt gold (true thickness unknown). The mineralization has some Carlin-like features with high grade gold in jasperoids hosted by Cambrian sediments similar to Long Canyon in Nevada. However, the broader geochemistry points to a strong intrusive source and mineralization within caldera related faults suggests intrusion related structural targets. Extensive geoscience work by RenGold has generated targets that should be easily tested with shallow reverse circulation drilling.

A minimum work commitment of US$50,000 is to be spent with RenGold doing the work, however, it is anticipated that this amount will be exceeded. Planning is well in-hand for the upcoming field season and new field work is scheduled to begin in late May.

Terminated Agreement:

Woods Hills South

The Wood Hills South project was under an earn-in agreement with Newmont USA Limited ("Newmont") from January 31, 2014 until it was terminated on March 11, 2015. Newmont completed significant activity in 2014 including further surface sampling, geophysics, and the completion of 5 reverse circulation holes totaling 3,460 feet. No reportable intercepts were encountered in the drilling. The Company is seeking a new partner to continue exploration on this project. This is a large 8,896 hectare (14,842.5 acre) property and the NE trending magnetic anomaly associated with mineralization in the Pequops remains untested.

Nevada and Utah properties being prepared for joint venture

Work has continued on data compilation and target definition at the Company's projects being prepared for joint venture. These properties include Big Gossan, Buffalo Canyon, Bunce, Fireball Ridge, JPW, Leonid, Reef, Secret Canyon, Sinter, Spruce Mountain and Whistler projects.

Generative

Generative exploration is the core of RenGold's business. Property submittal evaluations and generative programs in Nevada and Utah are ongoing but the current focus is on upgrading projects with quality drill intercepts. RenGold's technical team employs leading edge exploration techniques and technology for ore deposit vectoring including: proprietary remote sensing, spatial probability modeling and multivariate statistical analysis. Data is combined with field geology and alteration mineralogy for the purpose of target selection, property acquisition and joint venture development.

RenGold holds a large Pequop and Woodhills based land package in northeastern Nevada with New Nevada Resources, LLC ("NNR"). This includes 34,408 acres (13,924 Hectares) of important exploration terrain in the evolving Pequop Gold District. A good portion of the NNR land is included within the Woodhills South land package.

Qualified Person

All technical data, as disclosed in this press release, has been verified by the Company's qualified persons Richard L. Bedell, M.Sc. and Certified Professional Geologist and Eric M. Struhsacker, M.Sc. and Certified Professional Geologist.

About Renaissance Gold Inc.

Renaissance Gold Inc. is a gold/silver exploration company that has a large portfolio of exploration projects in Nevada and Utah. Many of the projects are in exploration earn-in agreements with industry partners who provide exploration funding. RenGold applies the extensive exploration experience and high-end technical skills of its founders and team members to search for and acquire new precious metal exploration projects that are then offered for joint venture.

Renaissance Gold Inc.

By: Richard L. Bedell, President and CEO

For further information, contact:

Richard L. Bedell
775-337-1545
rbedell@rengold.com

Eric Struhsacker
775-337-1545
estruhsacker@rengold.com

This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Renaissance Gold Inc. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Renaissance Gold Inc's management on the date the statements are made. Except as required by law, Renaissance Gold Inc. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

SOURCE: Renaissance Gold Inc.