Sandy Lake Gold Inc.
TSX VENTURE : SDL

Sandy Lake Gold Inc.

October 19, 2016 09:56 ET

Sandy Lake Gold Inc. Announces Management Change, Corporate Update and Grant of Options

TORONTO, ONTARIO--(Marketwired - Oct. 19, 2016) - Sandy Lake Gold Inc. (Sandy Lake) (TSX VENTURE:SDL) announces that Mr. Forbes Gemmell has resigned as the President and Chief Executive Officer of the Company, effective immediately, in order to pursue another career opportunity in the mining industry. The board of directors would like to thank Forbes for his valuable contributions to the Company from its inception in Brazil to its new project in Northwestern Ontario and wishes him every success in his new endeavours.

Mr. Daniel Noone, a director of the Company, has been appointed Interim President and Chief Executive Officer until the Company appoints a replacement.

The Company also announces it has granted an aggregate of 3,800,000 million stock options to certain directors, officers, employees and consultants pursuant to the Company's Stock Option Plan. The options have an exercise price of $ 0.15 per share and an expiry date of October 19, 2021, and vesting as to 25% immediately and 25% after each of 6, 12, and 18 months after date of grant.

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 and / or accuracy of this release.

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