BURNABY, BRITISH COLUMBIA--(Marketwired - May 16, 2016) - Beedie Investments Ltd. ("Beedie Investments") announces that it has acquired 19,316,666 common shares ("Common Shares") of Atlantic Gold Corporation (the "Company"), at a price of $0.60 per share, for a total subscription price of $11,590,000, in connection with the Company's previously announced non-brokered private placement of 22,573,329 Common Shares (including an additional 1,740,000 Common Shares issued as a result of the exercise of an over-allotment option) (the "Private Placement"). The Company also previously announced that, in addition to the Private Placement, it is undertaking a separate bought deal private placement of a further 20,833,400 Common Shares at a price of $0.60 per share (the "Brokered Offering"). The Brokered Offering was completed on May 16, 2016 and resulted in the issuance of a further 23,958,410 Common Shares, including an additional 3,125,010 Common Shares issued as a result of the exercise of an over-allotment option by the underwriters of the Brokered Offering.

As a result of its acquisition of Common Shares under the Private Placement, Beedie Investments now holds a total of 39,793,514 Common Shares, in addition to a Secured Convertible Debenture of the Company convertible into a further 13,333,333 Common Shares (the "Debenture"). Accordingly, today's acquisition of Common Shares brings the total number of Common Shares owned or deemed to be owned by Beedie Investments to 53,126,847, representing approximately 35.09% of the issued and outstanding Common Shares following the completion of the Private Placement and approximately 30.30% of the issued and outstanding Common Shares following the completion of both the Private Placement and the Brokered Offering (assuming in each case conversion in full of the Debenture, but without giving effect to the conversion of any accrued and unpaid interest thereon).

Ryan Beedie is the sole shareholder of Beedie Investments and is a director of the Company.

Beedie Investments acquired the Common Shares in the Private Placement for investment purposes. Beedie Investments reviews its holdings in the Company on a continuing basis and may from time to time and at any time, in its sole discretion, acquire or cause to be acquired additional equity or debt securities or other instruments of the Company, or dispose or cause to be disposed such equity or debt securities or instruments, through open market transactions, private placements by the Company and other privately negotiated transactions, or otherwise, in each case in accordance with applicable securities laws.

A copy of the early warning report relating to Beedie Investment's acquisition of the Debenture will be available under the Company's profile on SEDAR, and may also be obtained by contacting Beedie Investments at (604) 435-3321.

Neither 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.