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TORONTO, Nov. 02, 2017 (GLOBE NEWSWIRE) -- Sandy Lake Gold Inc. ("Sandy Lake" or the "Company") (TSXV:SLAU) is pleased to announce that it proposes to increase the size of its previously announced non-brokered private placement (the “Offering”), such that it will now issue up to (i) 3,000,000 units (“Units”); and (ii) 5,000,000 special warrants (“Special Warrants”), each at a price of $0.05 to raise aggregate gross proceeds of up to $400,000. 

All other terms of the Offering remain the same as previously disclosed in the press release of the Company dated October 30, 2017, available on SEDAR at www.sedar.com.  The Offering remains subject to the receipt of all applicable regulatory approvals.

For further information please contact:

Dan Noone
Interim Chief Executive Officer
(416) 628-5904
Email: info@sandylakegold.com

Neither the 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 and / or accuracy of this
release.

Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Sandy Lake, including, but not limited to the failure to complete the Offering as currently proposed or at all, the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, dependence upon regulatory and shareholder approvals, the proposed use of proceeds of the Offering and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.