Loncor Closes Private Placement Financing

TORONTO, ONTARIO--(Marketwired - June 29, 2016) - Loncor Resources Inc. (the "Company") (TSX:LN) is pleased to announce that, further to its June 13, 2016 press release, it has closed a non-brokered private placement of 1,750,000 units of the Company at a price of Cdn$0.12 per unit for gross proceeds of Cdn$210,000. Each such unit is comprised of one common share of the Company and one-half of one warrant of the Company, with each full warrant entitling the holder to purchase one common share of the Company at a price of Cdn$0.18 for a period of two years. The Company intends to use the proceeds from this financing for general corporate purposes. All securities issued in connection with the financing are subject to a hold period of four months plus a day from the date of closing and the resale rules of applicable securities legislation.

Loncor Resources Inc. (the "Company") is a Canadian gold exploration company focused on two projects in the Democratic Republic of the Congo ("DRC") - the Ngayu and North Kivu projects. The Company's Ngayu exploration permits cover 2,077 km² of the Ngayu Archaean greenstone belt in Orientale province in the northeast DRC and is its main focus. The North Kivu exploration permits cover a contiguous area of 13,210 km². Both projects have historic gold production. Additional information with respect to the Company's projects can be found on the Company's web site at www.loncor.com.