Rapier Gold Announces Results of Shareholder Meeting, Election of New Board

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 31, 2017) - Rapier Gold Inc. (TSX VENTURE:RPR) (the "Company") announces the election of a new board of directors following its annual general meeting (the "Meeting") held earlier today. The new board, comprised of Darren Blasutti, Paul Parisotto, David Lotan and Lorie Waisberg (the "Board"), consists entirely of directors nominated by Delbrook Capital Advisors Inc., which holds approximately 17% of the Company's outstanding common shares. For further information in respect of the results of voting at the Meeting, please refer to the Company's Report of Voting Results, which can be accessed at www.sedar.com.

Immediately following the Meeting, the Board held its first meeting of directors, at which, among other items, David Lotan was appointed as interim Chief Executive Officer of the Company, replacing Roger Walsh.

In the near term, the Board intends to conduct a detailed review of the Company to determine what changes, if any, would be desirable in light of such review and existing circumstances. The Board looks forward to working constructively with all of the Company's shareholders to drive value creation going forward.

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 news release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or the securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or the benefit of, any person in the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release constitutes forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to procure personnel, equipment and supplies required for its exploration activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain financing, or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.