Golden Reign and Marlin Gold enter into mutual extension of non-binding letter of intent to combine businesses

VANCOUVER, June 18, 2018 /CNW/ - Golden Reign Resources Ltd. (TSX-V: GRR) ("Golden Reign"), Marlin Gold Mining Ltd. ("Marlin") and Sailfish Royalty Corp. ("Sailfish") are pleased to announce that they have entered into an agreement to extend the termination date of the previously announced non-binding letter of intent (the "LOI") regarding the business combination of Golden Reign's wholly-owned San Albino-Murra Property in Nueva Segovia, Nicaragua and Marlin's La Trinidad Mine in Sinaloa, Mexico (see joint press release dated May 14, 2018). The LOI will now terminate on the earlier of (a) June 29, 2018, (b) entering into of the definitive arrangement agreement in connection with the business combination, and (c) such other date as may be mutually agreed by the parties in writing. All other terms of the LOI remain in full force and effect, unamended.

About Golden Reign:

Golden Reign Resources Ltd. is a publicly listed (TSX-V: GRR) mineral exploration company engaged in exploring the San Albino-Murra Property and the El Jicaro Property, both of which are located in Nueva Segovia, Nicaragua.  The company's prime objective is to bring its San Albino Gold Deposit into production quickly and efficiently, building cash flow to further advance a number of its other prospective exploration targets.  The Company's land package comprises 13,771 hectares (138 km2) of prospective ground for gold and silver mineralization. Hundreds of historical mines and workings exist within the Corona de Oro Gold Belt, which is approximately 3 kilometres wide by 20 kilometres long and is spanned by the company's land package. For additional information please visit our website at www.goldenreign.com and SEDAR www.sedar.com.

About Marlin Gold

Marlin is a growth-oriented gold and silver mining company focused on the Americas. The company owns three properties located in Mexico and the USA and a portfolio of royalties. Marlin's priority is to profitably operate its La Trinidad Mine, conduct further exploration on its other projects and enhance shareholder value through a strategic relationship with Sailfish Royalty Corp.. Marlin is backed by a well-funded investor with a successful track record in the resources sector. The La Trinidad Mine in Sinaloa, Mexico declared commercial production on November 1, 2014 and is one of the highest grade open pit heap leach gold mines in Mexico.

About Sailfish Royalty

Sailfish is a yield-focussed royalty company.  Sailfish owns the TZ Royalty, which is a 3.5% royalty on revenues derived from the sale of gold on Eldorado Gold Corp.'s advanced stage Tocantinzinho gold project, and also holds a gold stream agreement on the San Albino gold project in Northern Nicaragua.

Forward-Looking Statements: Some of the statements contained herein may be considered "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is based on certain expectations and assumption that are considered reasonable at the time, however undue reliance should not be placed on the forward looking information as the companies can give no assurance that they will provide to be correct. As forward-looking statements address anticipated future events and conditions, such forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking information, including, without limitation, the risk that a Definitive Agreement is not reached and the LOI is terminated and other risks and uncertainties including those discussed in each company's disclosure documents which can be found under each company's profile at www.sedar.com. None of Golden Reign, Marlin or Sailfish undertakes any obligation to revise or update any forward-looking information set forth herein, except as may be required by law.

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.

SOURCE Golden Reign Resources Ltd.