New Carolin Gold Corp. Announces Upsizing of Previously Announced Unit Offering

VANCOUVER, British Columbia, Aug. 08, 2019 (GLOBE NEWSWIRE) -- New Carolin Gold Corp. (the "Company" or "New Carolin") (TSXV: LAD | OTCBB: LADFF): New Carolin announces that the offering initially announced on May 23, 2019 has been increased to a 15,000,000 Units offering at a price of $0.09 per Unit for gross proceeds of up to $1,350,000. Each Unit is comprised of one common share and a one share purchase warrant ("Warrant") with each Warrant entitling the holder to purchase one additional common share at a price of $0.15 per share for a period of thirty six months from closing. Proceeds of the Unit offering will be used to continue drilling the Company's Ladner Gold Project in southwestern British Columbia and general working capital.

Finder's fees may be payable on portions of the offerings in accordance with TSX Venture Exchange policy. All securities issued in connection with both offerings are subject to a statutory hold period of four months plus one day from the date of issuance in accordance with applicable securities legislation.

About New Carolin Gold Corp.

New Carolin Gold is a Canadian-based junior company focused on the exploration, evaluation and development of our 100% owned property consisting of 144 square kilometers of contiguous mineral claims and crown grants, collectively known as the "Ladner Gold Project" (Project). The Project is located near Hope, BC in the prospective and under-explored Coquihalla Gold Belt, which is host to several historic small gold producers including the Carolin Mine, Emancipation Mine and Pipestem Mine, and numerous gold prospects.

For additional information, please visit the Company's website at www.newcarolingold.com.

ON BEHALF OF THE BOARD OF DIRECTORS

"Kenneth R. Holmes"

President

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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 or the accuracy of this press release.

Caution concerning forward-looking information

This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.