TORONTO, ONTARIO--(Marketwired - Oct. 31, 2016) - Sergei Stetsenko ("Mr. Stetsenko") announces his direct and indirect holding of approximately 6% of the issued and outstanding shares of Kilo Goldmines Ltd. (the "Corporation").

Mr. Stetsenko is the Chief Executive Officer and beneficial owner of CRG Finance AG ("CRG Finance"), an investment company based out of Zug, Switzerland. As of the date hereof, Mr. Stetsenko, directly and through CRG Finance, owns and controls an aggregate of 10,192,300 common shares in the capital of the Corporation (each a "Common Share") representing approximately 6% of the Corporation's issued and outstanding Common Shares on a non-diluted basis, based on the number of Common Shares indicated as issued and outstanding shares on the website of the TSX Venture Exchange. In addition, Mr. Stetsenko owns and controls, directly or indirectly, an aggregate of 2,300,000 common share purchase warrants of the Corporation (each a "Warrant").

Mr. Stetsenko directly owns and controls an aggregate of 7,442,300 Common Shares, while CRG Finance directly owns and controls an aggregate of 2,750,000 Common Shares. In addition, Mr. Stetsenko owns and controls, directly or indirectly, an aggregate of 2,300,000 Warrants, with an aggregate of 2,000,000 Warrants held directly and 300,000 Warrants held by CRG Finance. Each Warrant entitles the holder to purchase one additional Common Share at a price of $0.135 per Common Share. Assuming each Warrant is exercised, Mr. Stetsenko would, directly or indirectly, own and control an aggregate of 12,492,300 Common Shares, representing approximately 7.3% of the Corporation's issued and outstanding Common Shares.

The Common Shares of the Corporation are held for investment purposes. Mr. Stetsenko may, depending on market and other conditions, increase or decrease his holdings in the Corporation as circumstances warrant.