Announces Settlement Terms
Vancouver, BC – October 5, 2017 Black Dragon Gold Corp. (TSX-V:BDG) ('Black Dragon' or the 'Company') announces that it has reached settlement terms with some of its creditors whereby the Company proposes to issue 5,082,164 shares at a deemed price of $0.06375 to settle $323,988.03 of debt including $287,408.27 owed to a company controlled by Douglas Turnbull, the Company’s former Chief Executive Officer, as satisfaction of payments due to it under a settlement agreement relating to the termination of a services agreement. The Company also proposes to issue 573,799 share purchase warrants in connection with the proposed debt settlement. Each warrant will entitle the holder to purchase one additional share at a price of $0.11 for a period of two years from issuance. This transaction and the issuance of securities are subject to the approval of the TSXV. If
approved, the securities issued will be subject to a statutory hold period of four months plus one day from the date of issuance in accordance with applicable securities legislation.
Signed "Paul Cronin"
Chief Executive Officer
on behalf of the Board of Directors
BLACK DRAGON GOLD CORP.
Suite 545, 999 Canada Place
Vancouver, B.C., V6C 3E1
Tel: (604) 684-6264
About Black Dragon Gold
Black Dragon Gold “BDG” is the 100% owner of the largest undeveloped gold project in Europe, the Salave project. Salave is situated in the North of Spain in the province of Asturias. The Salave project has measured and indicated resources totalling 6.52 million Tonnes grading 4.51 g/t Au containing 944,000 ounces of gold at a 2.0 g/t cutoff grade and gold price of USD$1,100/ounce. For more information on the Salave project, please refer to the technical report, “Amended Technical Report on the Salave Gold Project, Asturias Region, Spain” dated October 7, 2016, as amended January 31, 2017, filed on SEDAR. In addition to the current mineral resource, historical exploration work suggests there is the potential for
additional mineralisation within Black Dragon’s landholdings.
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.