Broadway Announces Financing Increase and Closing of Non-Brokered Private Placement

VANCOUVER, BC--(Marketwired - January 04, 2017) -

NOT FOR DISSEMINATION IN THE UNITED STATES

Broadway Gold Mining Ltd. (TSX VENTURE: BRD) (OTCQB: BDWYF) ("Broadway" or the "Company") today announced the Company received subscriptions in excess of the previously announced $2,100,000 non-brokered private placement offering and was required to limit the overallotment to approximately 10%. The Company has issued 6,614,757 units (the "Units") of securities for gross proceeds of $2,315,164.95. Each Unit consists of one (1) common share of the Company (a "Share") and one-half of one (1/2) common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder thereof to purchase one Share at a price of $0.75 for a period of two (2) years from the date of issuance. The Shares, Warrants and any Shares issued on exercise of Warrants are subject to a four-month hold period, expiring on May 4, 2017.

The Company paid aggregate finders' fees in the amount of $61,225.50 to several finders on a portion of the offering.

Proceeds from the private placement will be used for working capital and to fund a 2017 surface and underground drill program.

About Broadway Gold Mining Ltd.

Broadway Gold Mining Ltd. is focused on the development of world-class assets with near-term production potential. The Madison gold and copper project, near Silver Star, Montana in the Butte-Anaconda mining region, provides an exciting opportunity as the area has never been fully exploited or explored. Broadway has identified a series of existing gold and copper zones that remain open for expansion.

Neither the TSX Venture Exchange Inc. 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.

This press release is not for distribution or dissemination in the United States and accordingly, shall not constitute an offer of securities in the United States. The securities that may be issued pursuant to this press release are not currently qualified by prospectus or registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the laws of any state, and may not be offered or sold in the United States, or to, or for the account or benefit of United States persons (as defined in Regulation S under the Securities Act) or persons in the United States absent registration or an applicable exemption from the registration requirements. The securities are subject to resale restrictions under applicable securities laws.