Calaveras Resource closes IPO on CSE

News Release

Calaveras Resource Corp. Completes Initial Public Offering

Vancouver, B.C. (September 27, 2017); Calaveras Resource Corp. (the “Company” or “Calaveras”) (CSE:CRC) is pleased to announce that it has completed its initial public offering of 5,000,000 units (the “Units”), with each Unit compromising one common share (the “Calaveras Shares”) of the Company and one common share purchase warrant (each, a “Warrant”) of the Company, at a price of $0.10 per Unit for gross proceeds of $500,000 (the “Offering”) with each Warrant exercisable into one Calaveras Share for a period of 24 months following the closing of the Offering at a price of $0.15, subject to an acceleration clause whereby if the Calaveras Shares trade on the Canadian Securities Exchange (the “CSE”) or any stock exchange or quotation system on which the Calaveras Shares are then listed at a price equal to or greater than $0.30 for a period of 15 consecutive trading days, the Company may give notice to the holders of a Warrant that the expiry time of the Warrant has been accelerated, such accelerated expiry time to be on a date not less than 30 days after notice is given. The CSE has listed the Calaveras Shares and has advised the Company that the Calaveras Shares will commence trading on the CSE on or about September 29, 2017 (the “Listing Date”) under the symbol “CRC”.

Haywood Securities Inc. (the “Agent”) acted as the Company’s agent in connection with the Offering. Pursuant to the Offering, the Agent received a cash commission, a corporate finance fee and 100,000 Calaveras Shares.

The Company intends to use the proceeds from the Offering to undertake the recommended work program on the Fame property, located in the Clinton Mining Division, British Columbia, Canada, of which the Company holds an option to acquire up to a 100% interest in (the “Option”), with the remainder of the proceeds to be used for general corporate purposes and working capital requirements.

About Calaveras Resource Corp.

Calaveras is a mineral exploration company with a focus on the exploration and development of the Fame Property, located in the Clinton Mining Division, British Columbia.

For additional information, please contact:
Ryan Cheung, CFO & Director
Telephone: 604-681-8835