Sandspring Resources Announces Option Grant

DENVER, COLORADO and VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 6, 2015) - November 6, 2015 - Sandspring Resources Ltd. (TSX VENTURE:SSP)(OTCQX:SSPXD) ("Sandspring" or the "Company") announces that the Company has granted to directors, officers, consultants, employees and charitable organizations of the Company options to purchase an aggregate of 4,645,000 common shares of the Company at a price of C$0.20 per share for a period of up to ten years, subject to regulatory approval. In addition, a total of 387,658 stock options previously granted to non-insider employees and consultants of the Company have been re-priced to C$0.20 per share.

About Sandspring Resources Ltd.

Sandspring Resources Ltd. is a Canadian junior mining company currently moving toward a definitive feasibility study for the multi-million ounce Toroparu Gold Project in the Republic of Guyana. A gold and silver purchase agreement with Silver Wheaton Corporation validates the project's potential and substantially reduces project finance requirements. A prefeasibility study completed in May 2013 (NI 43-101 Technical Report, Prefeasibility Study, Toroparu Gold Project, Upper Puruni River Area, Guyana, dated May 24, 2013 completed by SRK Consulting (U.S.), Inc., available on SEDAR at www.sedar.com) outlined the design of an open-pit mine producing more than 200,000 ounces of gold annually over an initial 16-year mine life. Significant exploration potential, along with copper and silver credits, provide additional upside potential for the Toroparu Gold Project. Additional information is available at www.sandspringresources.com or by email at info@sandspringresources.com.

On Behalf of the Board of Directors of

Sandspring Resources Ltd.

Richard Munson, Chief Executive Officer

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 release.