TORONTO, ONTARIO--(Marketwired - Sept. 21, 2016) - Scott Kelly (the "Purchaser") announces that he has acquired ownership and control of 1,675,000 common shares (the "Subject Shares") and 1,675,000 share purchase warrants (the "Subject Warrants" and together with the Subject Shares, the "Subject Securities") of Newstrike Resources Ltd. (the "Company") on September 20, 2016, representing approximately 3.6% of all issued and outstanding common shares of the Company as of September 20, 2016 immediately following such transaction (or approximately 6.9% on a partially diluted basis assuming exercise of the Subject Warrants only).

Upon completion of the transaction described above, the Purchaser owns and controls an aggregate of 3,138,000 common shares of the Company and convertible securities entitling the Purchaser to acquire an additional 1,810,000 common shares of the Company, representing approximately 6.7% of the issued and outstanding common shares of the Company (or approximately 10.2% on a partially diluted basis assuming exercise of such convertible securities only).

The Subject Securities were acquired in a private transaction, and not through the facilities of any stock exchange. The holdings of securities of the Company by the Purchaser are managed for investment purposes, and the Purchaser could increase or decrease his investment in the Company at any time, or continue to maintain his current investment position, depending on market conditions or any other relevant factor. The Subject Securities were acquired for a purchase price of $0.05 per unit, each unit consisting of one Subject Share and one Subject Warrant, for an aggregate purchase price of $83,750. The trade was effected in reliance upon the exemption contained in Section 2.3 of National Instrument 45-106 on the basis that the Purchaser is an accredited investor.

Additional Information

A copy of the applicable securities report filed in connection with the matters set forth above may be obtained by contacting:

Scott Kelly
7 King Street East
Suite 1905
Toronto, Ontario M5C 3C5
Tel: 416-504-4173

Contact Information:

Scott Kelly