Prosper Gold Corp. Continues Ashley Gold Mine Option

QUESNEL, BRITISH COLUMBIA--(Marketwired - Feb. 22, 2017) - Prosper Gold Corp. ("Prosper Gold" or the "Company") (TSX VENTURE:PGX) announces that it has fulfilled the third stage of the previously announced option agreement for the Ashley Gold Mine Property (the "Property") (See February 29, 2016 news release).

The Company has paid $80,000 and issued 200,000 Prosper Gold common shares to the Optionors. Prosper Gold intends to continue to advance the Property with an objective of fulfilling additional obligations that would increase the Company's interest in the Property to 100%.

Pete Bernier, President and CEO, commented, "Prosper completed comprehensive airborne and soil geochemistry surveys as well as 8,715m of diamond drilling in Phase 1. Details of Phase 2's fully funded 10,000m diamond drill program will be released in the coming weeks."

The Company has granted an aggregate of 100,000 incentive options (the "Options") to purchase common shares of Prosper Gold to an employee of the Company. The Options are exercisable at a price of $0.20 per common share until five years from the date of grant.

The Options are granted pursuant to the Company's stock option plan. The grant of the Options is subject to the final approval of the TSX Venture Exchange.

For a detailed overview of Prosper Gold please visit www.ProsperGoldCorp.com

ON BEHALF OF THE BOARD OF DIRECTORS

Peter Bernier, President & CEO

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward- looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation; statements about the terms of the Option Agreement, exploration potential of the Property and planned exploration of the Property are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; the Company's ability to satisfy conditions precedent under the Option Agreement; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the potential for conflicts of interest among certain officers, directors or promoters with certain other projects; the absence of dividends; competition; dilution; the volatility of our common share price and volume and the additional risks identified the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

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 accuracy of this release.