Marlin Gold Stacks 21,567 Ounces Gold in November at La Trinidad

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 5, 2016) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

Marlin Gold Mining Ltd. (TSX VENTURE:MLN) ("Marlin" or the "Company") is pleased to provide an operating update from its wholly owned La Trinidad mine in Sinaloa, Mexico ("La Trinidad").

Since September 15^th, when Marlin began consistently mining the high grade HS Zone, the Company has stacked 41,029 ounces of gold with 21,567 coming in November alone. The tonnes stacked in November had an average grade of approximately 5.26 grams per tonne. In addition, Marlin has built up an over 75,000-tonne stockpile of mineralized material at similar grades waiting to be crushed and stacked onto the leach pad.

The recoveries of gold from the leach pad have increased by approximately 33% since the end of last month, from 210 ounces per day to 279 ounces per day. Importantly, our current leach curves are confirming the SRK Consulting estimates of 75% with no apparent leach inefficiencies (please see the news release on November 2, 2016 for important technical disclosures about projected leach pad recoveries).

Gold shipments in November reached a new monthly record at 6,247 ounces and are expected to continue increasing as daily recoveries increase.

Total costs per ounce are expected to be below US$400 for November (based on total costs of US$2.25-2.5 million per month), and going forward, costs per ounce should track materially lower as gold shipments increase.

Since September 15^th, Marlin has crushed or stockpiled one tonne of mineralized material for each 2.54 tonnes of waste mined. We expect this ratio to remain at this level or lower for the foreseeable future.

A drill contractor is now at site to follow up on the high-grade blast-hole assays from the negative two level bench and below in the north side pit wall. A 12-hole drill program will help quantify how much mineralization exists to the north, which will determine whether a north side layback is warranted.

The tables below highlight key statistics at the crusher and leach pad year to date.

		January		February (1)		March		April		May		June
Tonnes Crushed (2)		51,553		0		16,662		22,006		85,058		95,653
Average Crushed Grade (3)		0.63		0.00		0.53		0.51		0.77		0.67
Gold Stacked (4)		1,044		0		281		361		2,097		2,045
Daily Recovered Gold (5)		31		17		12		11		33		29
		July		August		September		October		November
Tonnes Crushed (2)		37,186		17,074		25,690		130,660		127,557
Average Crushed Grade (3)		0.75		0.82		1.80		4.30		5.26
Gold Stacked (4)		893		450		1,484		18,052		21,567
Daily Recovered Gold (5)		29		14		14		210		279
(1) Lack of activity due to mining contractor transition.
(2) Metric tonnes processed by three-stages of crushing and agglomeration. Adjusted for moisture content.
(3) Average grams per tonne gold sampled at the crusher.
(4) Troy ounces of gold stacked onto the leach pad.
(5) Daily recovery of troy ounces of gold from the leach pad at month end.

La Trinidad Operating Update December 2016 Conference Call and Webcast

The Company's senior management will host a conference call on Tuesday, December 6, 2016 at 10:00 AM (E.S.T.) to discuss the Company's operating results for the month of November.

Via Webcast:

A live audio webcast of the conference call will be available using the following link http://edge.media-server.com/m/p/dca8ebw7 or on a link hosted on the Company's website at www.marlingold.com.

Via Telephone:

For those preferring to listen by telephone, please dial 1-213-358-0878 or toll-free 1-844-348-1683, access code 28956823. To ensure your participation, please call approximately ten minutes prior to the scheduled start of the call.

Replay Archive:

Please dial 1-404-537-3406 or toll-free 1-855-859-2056, access code 28956823. The conference call replay will expire on December 13, 2016.

The webcast, along with presentation slides, will be archived for 180 days on the Company's website.

About Marlin Gold

Marlin is a publicly-traded gold and silver mining company with properties located in Sinaloa, Mexico and Arizona, USA. Marlin's priority is to advance its properties toward commercial production and enhance shareholder value through the growth of its wholly-owned subsidiary, Sailfish Royalty Corp. The La Trinidad property in Sinaloa, Mexico, declared commercial production on November 1, 2014. A NI 43-101 mineral resource estimate and preliminary economic assessment for the La Trinidad mine and Commonwealth project can be found at www.sedar.com or at www.marlingold.com.

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

Cautionary statement regarding forward‐looking information

This news release contains 'forward-looking statements' within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur, including, without limitation, the intended use of proceeds. These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while based on management's expectations and considered reasonable at the time they are made, are inherently 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 statements, including, without limitation: the risk that the anticipated effects of the equity financing may not result in the outcomes predicted by management, uncertainties related to raising sufficient financing to fund planned work in a timely manner and on acceptable terms; changes in planned work resulting from logistical, technical or other factors; the possibility that results of work will not fulfill projections/expectations and realize the perceived potential of the Company's projects; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold resources; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of environmental issues at the Company's projects; the possibility of cost overruns or unanticipated expenses in work programs; the need to obtain permits and comply with environmental laws and regulations and other government requirements; fluctuations in the price of gold and other risks and uncertainties, including those described in the Company's current Annual Information Form filed on SEDAR at www.sedar.com. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this release. Unless required by law, Marlin has no intention to and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES