GT Gold Ramps Up for June 15 Saddle Program Start

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 16, 2017) - GT Gold Corp. ("GT Gold" or the "Company") (TSX VENTURE:GTT). With just a month to go, GT Gold is pleased to report that all permits are in place and all supplier contracts have been let in support of a June 15^th start of camp construction at the Company's promising new Saddle gold target, located on the Tatogga property in northwestern British Columbia, Canada. Camp construction is expected to take several days, following which ground based induced polarization (IP) geophysics, additional geochemical sampling, and reverse circulation (RC) drilling (up to 2,000 metres in 76 holes), will get underway. The results of this work, which is targeted for completion in the first half of July, will be used to guide immediate follow-on diamond drilling (2,600 metres in 22 holes). A second phase of core drilling of similar meterage, to be undertaken in August and September, has been fully financed.

Readers are invited to review the Company's press release dated March 1, 2017 for full details of the pending Saddle exploration program. An animated presentation in Microsoft Powerpoint of the Saddle Phase I drill program is also available for download as a .zip file from the Company's home page at www.gtgoldcorp.ca.

"We're excited to be the first to drill the impressive Saddle target," states Kevin Keough, GT Gold's president and CEO. "It's classic exploration, and we're at the point, we hope, of incipient discovery - the point where the value really gets added. We've done our homework and have the plan, and team, in place to execute."

Charles J. Greig, M.Sc., P.Geo., Vice President, Exploration for GT Gold and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this press release.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward Looking Statements

This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.