Broadway Announces Closing of Non-Brokered Private Placement Financing

VANCOUVER, BC--(Marketwired - April 28, 2017) -

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Broadway Gold Mining Ltd. (TSX VENTURE: BRD) (OTCQB: BDWYF) (FRANKFURT: BGH.F) ("Broadway" or the "Company"), is pleased to announce that it has closed its non-brokered private placement offering of securities of the Company (the "Offering") previously announced in its press releases dated April 4, 2017 and April 27, 2017, and has issued 2,811,114 units (the "Units") of the Company at a price of $0.90 per Unit for gross proceeds of $2,530,002.60. Each Unit consists of one common share in the capital of the Company (each, a "Common Share") and one half (1/2) Common Share purchase warrant (each whole such warrant, a "Warrant"), with each Warrant being exercisable to acquire one Common Share at a price of $1.60 for a period of 18 months from the date of issuance.

The proceeds from the Offering will be used by the Company for general corporate purposes and for geophysics, underground drilling and surface drilling on its Madison copper-gold project. In connection with the closing of the Offering, the Company has paid finders fees in the aggregate amount of $115,720 to several finders for introducing investors to the Company and has issued 281,111 compensation options ("Compensation Options") to such finders. The Compensation Options will be exercisable to acquire one Unit for a period of 18 months from the date of issuance at an exercise price of $0.90 per Unit.

All securities sold or issued in connection with the Offering will be subject to a hold period of four months and one day from the date of issuance thereof. The Offering is subject to final approval of the TSX Venture Exchange.

About Broadway Gold Mining Ltd.
Broadway Gold Mining Ltd. is a resource company focused on development-stage projects with advanced exploration potential. The company owns a 100% interest in the Madison copper-gold project located in the Butte-Anaconda mining region of Montana, USA. The Madison project is permitted for exploration and contains a past-producing underground mine that Broadway has refurbished. While actively expanding known copper and gold zones that remain open for development in the mine's perimeter, the company's exploration program has identified new anomalies across its extensive land package that provide compelling drill targets that are believed to be associated with large-scale porphyry mineralization.

Cautionary Statement Regarding Forward-Looking Information
This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to the business of Broadway. Forward-looking statements are identified by words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions. These statements are based on the Company's expectations, estimates, forecasts and projections and include statements relating to the completion of the Offering and the use of proceeds from the Offering. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. These risks and uncertainties are discussed in the Company's regulatory filings available on SEDAR at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. Except as required by applicable law, the Company undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.