August 19, 2016, Vancouver, BC - Rathdowney Resources Ltd. ('Rathdowney' or the 'Company') (TSXV: RTH) announces that it has closed the first tranche of the unit ('Unit') private placement announced previously on June 23, 2016 consisting of 7.19 million Units issued as part of the Company's President's List for gross proceeds of $1.36 million. Each Unit consists of one common share in the capital of the Company (a 'Share') and one warrant (a 'Warrant'). Each Warrant entitles the holder to purchase one additional Share at a price of $0.24 for a period of two years from the date of closing.

For further details on Rathdowney, please visit our website at www.rathdowneyresources.com or contact Investor Relations at Tel 604-684-6365 or Toll free (NA): 1-800-667-2114.

On behalf of the Board of Directors
David Copeland
Chairman

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.

For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.