Val-d’Or Mining Corporation (TSX-V:MZZ) is pleased to announce that it has completed the previously announced short form prospectus offering and a non-brokered private placement offering for gross proceeds of $1,480,000.

The Company issued 12,000,000 Units under the Offering and 1,800,000 Units under the over-allotment option granted by the Company to, and exercised in full by, Canaccord Genuity Corp. the agent for the Offering, and the Company issued 1,000,000 Units under the private placement. Each Unit issued under both the Offering and the private placement consists of one common share in the capital of the Company and one-half of one non-transferable common share purchase warrant, each whole warrant exercisable for the purchase of one common share of the Company at a per share price of $0.15 until November 30, 2020.

Canaccord, as agent for the Offering, received a commission of $138,000, being 10% of the aggregate gross proceeds raised under the Offering, plus a corporate finance fee of $20,000 and reimbursement of expenses incurred in relation to the Offering, including legal fees. The Company also issued to Canaccord warrants entitling the purchase of 1,380,000 Units of the Company, being 10% of the number of Units sold under the Offering, at an exercise price per Unit of $0.10 until November 30, 2020, the Units underlying the Agent’s Warrants having the same attributes as the Units issued under the Offering.

The proceeds raised under the Offering will be used by the Company to conduct the recommended work program on its Baden Property, exploration on certain of its other property interests, and for general corporate purposes.

The proceeds raised from the private placement will be used by the Company to conduct a recommended Phase 1 exploration program on its Oregon property interest located approximately 4 km northwest of the town of Barraute in the south central part of Barraute Township 40 km north of Val-d’Or, Abitibi, northwestern Québec, which is under option from Golden Valley Mines Ltd.

In accordance with applicable securities legislation, the 1,000,000 common shares issued under by the Company under the private placement, including the 500,000 common shares underlying, and issuable upon exercise of, the Warrants issued under the private placement, are subject to a hold period until March 31, 2018. An administration fee of $4,000 was paid by the Company to the subscriber under the private placement offering.

The Offering was previously announced by the Company by news release dated August 28, 2017; and the private placement offering was previously announced by the Company by news release dated October 12, 2017.

The Company also announces that Dimitri Maniatis has resigned as a director of the Company. The Company thanks Mr. Maniatis for his services and wishes him the best in his future endeavours. The Company is pleased to announce that Mr. Lukas Shewchuk has been appointed to the board of directors of the Company. Mr. Shewchuk is a fourth year student at the Queen’s University Economics Department in Kingston, Ontario with summer field experience in mining exploration in Red Lake (Premier Gold Mines) and in oil and gas exploration with Yangarra Resources Ltd in both Calgary and Rocky Mountain House, Alberta. The directors of the Company welcome Mr. Shewchuk to the board as part of its mentorship initiative.

About Val-d’Or Mining Corporation

Val-d’Or Mining Corporation is a junior natural resource issuer involved in the process of exploring, evaluating and promoting its mineral property assets. The Company holds an option to acquire a 100% interest in 61 grassroots properties located in Ontario and Québec; in addition to which it holds a 100% interest in the Marymac Prospect consisting of 43 Map Designated Units located in the Labrador Trough of Québec, subject to a 2% NSR; a 100% interest in the Shoot-Out Prospect, which is the combination of two properties, Shoot-Out East and Shoot-Out West, and consists of 63 claims located in the Raglan Belt of northern Québec, subject to a 3% NSR; a 100% interest in the Fortin Prospect consisting of five contiguous mining claims located in the central part of Ducros Township, approximatively 80 kilometres northeast of the city of Val-d’Or, Québec, subject to a 1.5% NSR; and holds a 100% interest in the Chibougamau-Chapais Prospect, a non-contiguous group of 40 claims, located in the Chibougamau area in central Québec, which were staked by the Company in the second quarter of 2016.