Oban Mining Announces Discovery of New Gold Mineralization at Windfall Project

Oban Mining Corporation is pleased to announce the discovery of new gold mineralization as part of the company's new regional exploration drill program, on its 100% owned Windfall Project located in the Urban Township, Québec.

The regional exploration drilling is focusing on testing an inventory of gold-in-till anomalies with coincident geophysical (Induced Polarization) signatures defined during the fall 2015 till and winter 2016 geophysics programs.

The new mineralization is located approximately three kilometres west - southwest of the main Windfall deposit and is currently defined by two drill holes spaced approximately 700 metres apart. DDH OBX-16-666 intersected 183.5 g/t Au over 0.3 metres and DDH OBX-16-652 intersected 12.7 g/t Au over 1.5 metres. DDH OBX-16-652 was collared 200 metres SE of an historical hole (1987) that returned 41.4 g/t Au over 0.7 metres. The new holes underscore the strong potential for new gold mineralization on the Windfall Lake property, which has historically seen sparse detailed exploration. The table below details results from the two new holes(1):

Notes:

⁽¹⁾ For complete drilling results please see www.obanmining.com.

Drill Hole Collar Coordinates and Information:

OBX-16-652 targeted an Induced Polarization ("IP") anomaly, 3.3 km to the WSW of the Main Zone at Windfall. The drill hole intersected 12.72 g/t Au over 1.5 metres in a crustiform carbonate-quartz vein bearing similarity to high grade gold veins present in the Windfall Main Zone. The hole was located on a combined gold-in-till anomaly with an overlying IP anomaly.

OBX-16-666 tested another IP anomaly located 2.7 km WSW of the Main Zone at Windfall (700 metres to the ENE of OBX-16-652) and intersected a sheared quartz vein containing sights of visible gold, hosted in a silicified intrusion. The vein material returned 183.5 g/t Au over 0.3 metres.

OBX-16-665 was a failed hole abandoned at 21 metres depth, collared at the same location as OBX-16-666. Three additional holes (OBX-16-657, -659 and -661) were collared in a cluster located 280 m south of OBX-16-652 but did not return significant results. Five other regional holes (OBX-16-637, -638, -641,-644 and -646) were drilled on a target located 8.3 km NE of the Windfall deposit but did not return significant results.

Qualified Person

The scientific and technical content of this press release has been reviewed by Mr. Jean-Philippe Desrochers, Ph.D., P.Geo. Senior Project Manager of the Windfall Lake gold project, who is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").

Quality Control

True widths of the new exploration intercepts reported in this press release have yet to be determined. Additional drilling is planned for the immediate area which will enable the true width determination. Assays are uncut except where indicated.. All NQ core assays reported were obtained by either 1 kg whole rock metallic screen/fire assay or standard 50 gram fire-assaying with AA or gravimetric finish at ALS Laboratories in Val d'Or, Québec or Sudbury, Ontario. The 1 kg metallic screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. All samples are also analysed for multi-elements, including silver, using an Aqua Regia-ICP-AES method at ALS laboratories. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.