Galane Announces Update on Proposed Acquisition of Vantage Goldfields

Galane Gold Ltd. is pleased to provide an update on its proposed acquisition of Vantage Goldfields Limited, a gold mining company with operations in the Mpumalanga Province of South Africa.

As previously announced, Galane and Vantage entered into a letter of intent, as amended, with respect to the Acquisition. The parties have agreed to further extend the date on which a binding acquisition agreement is to be executed to July 25, 2017.

About Galane

Galane is an un-hedged gold producer and explorer with mining operations and exploration tenements in Botswana and South Africa. Galane is a public company and its shares are quoted on the TSX Venture Exchange and the Botswana Stock Exchange under the symbol "GG". Galane's management team is comprised of senior mining professionals with extensive experience in managing mining and processing operations and large-scale exploration programmes. Galane is committed to operating at world-class standards and is focused on the safety of its employees, respecting the environment, and contributing to the communities in which it operates.