Buccaneer Gold Announces Litigation and Denies Accusations

TORONTO, ONTARIO--(Marketwired - Feb. 25, 2016) - Buccaneer Gold Corp. (TSX VENTURE:BGG) ("Buccaneer" or the "Company") announces that on February 19, 2016, Michael Steele, a shareholder of the Company, issued a Notice of Application in the Ontario Superior Court of Justice against the Company, which he subsequently amended on February 24, 2016. By way of this Application, Mr. Steele seeks an order from the court appointing himself as director of the Company in place of Paul Zyla and Richard Grayston. In addition, he seeks various other forms of relief including an order preventing the Company from proceeding with a transaction that it is considering, preventing it from issuing any shares, disposing of or transferring its assets and freezing its accounts. In the context of this Application, the Company believes that Mr. Steele has made unfounded and inaccurate statements regarding the legitimacy of the Company's board of directors and the decisions that it has made. Buccaneer intends to vigorously defend itself in court from these false accusations.

About Buccaneer

Buccaneer is a mineral exploration corporation whose long-term objective is to build a diversified corporation focused on the acquisition, exploration and development of mineral properties. Additional information about Buccaneer is available on www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed this news release and neither accepts responsibility for the adequacy or accuracy of this news release.