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GOLD STANDARD REPORTS INCREASED OXIDE GOLD RESOURCE AND APPROVAL OF AN EXPLORATION EA AT THE DARK STAR DEPOSIT, CARLIN TREND, NEVADA

June 29, 2017

June 29, 2017 – Vancouver, B.C. – Gold Standard Ventures Corp. (TSXV: GSV; NYSE MKT:GSV) (“Gold Standard” or the “Company”) today announced an updated National Instrument (NI) 43-101-compliant resource estimate for its Dark Star gold deposit on its 100%-owned/controlled Railroad-Pinion Project in Nevada’s Carlin Trend. The estimate was prepared by APEX Geoscience Ltd. of Edmonton, Canada (“APEX”) and is dated June 9, 2017. An NI 43-101-compliant technical report will be filed with SEDAR within 45 days of the date of this news release.

In its summary report, APEX estimates an Indicated Mineral Resource of 15.38 million tonnes grading 0.54 grams per tonne (g/t) gold (Au), totaling 265,100 ounces of gold, and an Inferred Resource of 17.05 million tonnes grading 1.31 g/t Au, totaling 715,800 ounces of gold, using a cut-off grade of 0.20 g Au/t (Table 1). A sensitivity analysis of the grade and tonnage relationships at a variety of cutoffgrades is shown in the accompanying Table 2 below.

Table 1. Dark Star NI 43-101 mineral resource estimate at a cutoff grade of 0.20 g Au/t is summarized below*:

Classification Tonnage- Au (million metric tonnes) Au Grade Capped (grams per tonne) Contained Au** (troy ounces)***
Indicated 15.38 0.54 265,100
Inferred 17.05 1.31 715,800

 *Indicated and Inferred Mineral Resources are not Mineral Reserves. Mineral resources which are not mineral reserves do not have demonstrated economic viability. There has been insufficient exploration to define the inferred resources tabulated above as an indicated or measured mineral resource, however, it is reasonably expected that the majority of the Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. There is no guarantee that any part of the mineral resources discussed herein will be converted into a mineral reserve in the future.

**The recommended reported resources are highlighted in bold and have been constrained within a $US1,250/ounce of gold optimized pit shell.

***Contained ounces may not add due to rounding.

Jonathan Awde, CEO and Director of Gold Standard commented: “Our discovery of North Dark Star in 2015 has made an important tonnage contribution to this resource estimate at a very desirable grade. We are very confident that this estimate will grow with this year’s aggressive drill program.”

Key Highlights

  • Indicated Mineral Resource of 265,100 troy ounces of gold contained in 15.38 million tonnes at an average grade of 0.54 g Au/t (at a lower cutoff of 0.20 g Au/t). This is the first Indicated Mineral Resource at the Dark Star deposit. A portion of the Indicated Mineral Resource crops out at surface.
  • Inferred Mineral Resource of 715,800 troy ounces of gold contained in 17.05 million tonnes at a capped grade of 1.31 g Au/t (at a lower cutoff of 0.20 g Au/t), up 93% over the 2015 maiden Inferred Mineral Resource (see news release dated March 3, 2015).
  • The North Dark Star discovery and the Dark Star Main maiden resource (see March 3, 2015 news release) are connected and form a continuous gold zone with a strike length of approximately 1300m (see January 19, 2017 news release). Both North Dark Star and Dark Star Main are included in this resource estimate and are referred to as a single deposit, “Dark Star.” The Indicated resource is from the former Main Dark Star deposit which has a greater density of drilling while the Inferred resource estimate is largely from the former North Dark Star deposit discovered more recently.
  • Gold mineralization remains open in multiple directions. Excellent potential exists for expansion of the resource along geologic controls identified during the modeling of the deposit. Approximately 12,600m of drilling will be completed in 2017 to further expand the oxide resource (see news release dated February 2, 2017).
  • The Dark Star resource estimate noted in Table 1 includes only material amenable to cyanide leaching. Drilling has encountered small zones of sulfide mineralization that are not included in the resource estimate.
  • The reported resources have been constrained within an optimized pit shell at $US1,250/ounce of gold, consistent with resource disclosure by major companies.
  • The resource estimate is based on 135 reverse circulation (RC) holes and 23 core holes.
  • Due to the good lateral continuity of the gold zone and geologic controls modeled from oriented core, the potential to convert inferred resources to indicated resources with future drilling is considered high.
  • The gold resource is hosted in Pennsylvanian-Permian collapse brecciated debris flow conglomerate and bioclastic limestone that is oxidized, decalcified, variably silicified. These sedimentary rocks are cut by thin rhyolite dikes and sills, part of a north-striking zone of faults, igneous rocks, and silicification that runs along the east side of the Pinon range that is referred to as the Dark Star Corridor.
  • The Company recently received a Finding of No Significant Impact and Decision Record from the U.S. Bureau of Land Management for the South Railroad Exploration EA. The EA covers approximately 12 square miles and provides the Company with up to 250 acres of new disturbance. Gold Standard will bond for Phase 1 now which is 100 acres of disturbance.  The EA will allow the Company to continue to explore high priority targets at Dark Star, the Dark Star Corridor and Pinion.

Table 2. Sensitivity analysis of the Dark Star NI 43-101 mineral resource estimate for gold at various cutoffs*:

Classification Au Cutoff (grams per tonne) Tonnage – Au (million metric tonnes) Au Grade Capped (grams per tonne) Contained Au (troy ounces)***
Indicated 0.0 15.38 0.54 265,100
0.2** 15.38 0.54 265,100
0.3 14.91 0.54 261,000
0.4 12.16 0.59 229,300
0.5 7.95 0.66 168,200
0.6 4.01 0.77 98,900
0.7 2.02 0.89 57,800
0.8 1.19 0.99 37,800
0.9 0.71 1.08 24,800
1.0 0.40 1.19 15,500
Inferred 0.0 17.06 1.31 715,900
0.2** 17.05 1.31 715,800
0.3 16.38 1.35 710,300
0.4 15.17 1.43 696,400
0.5 14.06 1.51 680,500
0.6 12.82 1.60 658,500
0.7 11.34 1.72 627,600
0.8 10.04 1.85 596,300
0.9 8.92 1.97 565,900
1.0 8.07 2.08 539,700

 *Indicated and Inferred Mineral Resources are not Mineral Reserves. Mineral resources which are not mineral reserves do not have demonstrated economic viability. There has been insufficient exploration to define the inferred resources tabulated above as an indicated or measured mineral resource, however, it is reasonably expected that the majority of the Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. There is no guarantee that any part of the mineral resources discussed herein will be converted into a mineral reserve in the future.

**The recommended reported resources are highlighted in bold and have been constrained within a $US1,250/ounce of gold optimized pit shell.

***Contained ounces may not add due to rounding.

Mineral Resource Estimate

The statistical analysis, geological modeling and resource estimation was prepared by Mr. Steven Nicholls, MAIG, with APEX Geoscience Ltd. (APEX) under the direct supervision of Mr. Dufresne, P. Geol., P.Geo., also with APEX. Both are Qualified Persons as defined by National Instrument 43-101. Mineral resource modelling and estimation was carried out using a 3-dimensional block model based on geostatistical applications using commercial mine planning software MICROMINE (v14.0.6).

Modeling was conducted in Universal Transverse Mercator (UTM) coordinate space relative to the North American Datum (NAD) 1927 and UTM Zone 11. A parent block size of 6 m (X) x 6 m (Y) x 6 m (Z) with sub-blocking down to 3 m x 3 m x 3 m was applied. The combined Dark Star and North Dark Star resource modeling utilized 158 drill holes that were completed from 1984 to 2016. Mr. Dufresne, P.Geol., P.Geo., visited the property in May, 2013, April and October, 2014, June 2015, August – September, 2015 and June 2017, in order to verify and validate the historic drill hole dataset and to verify the drilling of the recently completed 2016 diamond and RC drilling campaigns completed by GSV. Over the period of the last four years, APEX personnel were intimately involved in the verification, validation, drill hole collar surveying and QA/QC analysis of the Dark Star and North Dark Star drill hole database. The current drill hole database is deemed to be in good condition and suitable to use in ongoing resource estimation studies.

A total of 158 drill holes guided the geological interpretation and estimation of the combined Dark Star and North Dark Star resource. This total comprises 23 diamond core holes and 135 RC drill holes that were completed from 1984 to 2016. Spacing between drill holes varies from 2 m to 160 m in the resource area. All of the drill holes were used to guide the geological and mineralization model that was ultimately used in the resource estimation calculation. A total of 683 bulk density samples were collected from the 2015 and 2016 GSV core holes. A total of 260 bulk density samples were situated within the mineralized wireframes. The 260 bulk density samples situated within the mineralized zones were examined on a lode by lode basis. The average bulk density determined from the analytical work for each lode was assigned to all the blocks within that lode. The average density for the lodes ranges from 2.46 g/cm3 to 2.62 g/cm3 with overall average bulk density of 2.54 g/cm3 for the combined Dark Star and North Dark Star mineral resource.

The combined Dark Star and North Dark Star assay file comprised 25,376 analyses of variable length from a variety of sampled lithologies. Of the 25,376 samples in the combined Dark Star and North Dark Star database, roughly fourteen percent (3,507 assays) are situated within the gold mineralized lodes. A parent block size of 6 m (X) x 6 m (Y) x 6 m (Z) was chosen for the combined Dark Star – North Dark Star block model. This is deemed appropriate based on the current level of drill hole spacing in the resource area which ranges from 2 m to 160 m with rough sections that range from 15 m to 100 m spacing. The block model extents were extended beyond the mineralized wireframe to encompass the entire domain. Sub-blocking down to 3 m (X) x 3 m (Y) x 3 m (Z) was used to more effectively honor the volumes and shapes created during the geological interpretation of the mineralized wireframes or lodes. Grade was interpolated for the parent blocks and assigned to the sub-blocks. A comparison of wireframe volume versus block model volume was performed for each of the estimations to ensure there was no under- or overestimation of tonnages. Each block was coded with the lode number so that grade could be estimated as hard boundaries.

The Indicated and Inferred Dark Star and North Dark Star resource estimation of gold was calculated using inverse distance (ID1) for each of the six lodes. Silver was not estimated. The combined Dark Star and North Dark Star resource estimation was conducted using inverse distance, inverse distance squared and ordinary kriging all of which were reviewed for resources estimation. Based upon the resultant validation of the block models it was decided to use the inverse distance estimation technique as it best honored the input composite grades. As such only inverse distance estimation technique was used for this estimation.   Estimation was only calculated on parent blocks. All sub-blocks within the parent block were assigned the parent block grade. A block discretization of 3 m (X) x 3 m (Y) x 3 m (Z) was applied to all blocks during estimation.   Each lode was estimated with ‘hard boundaries’, which means that only composite assays located within each lode were used to estimate the grade of the blocks within that lode.

Considerable metallurgical test work has been completed to date, which includes analysis of the suitability of the gold mineralization to cyanide soluble leaching methods. Bottle roll leach test work was completed by Crown Resources Corp. in 1991. This test work obtained recoveries of gold ranging from 75.0 to 91.3 %, in direct cyanidation of RC chips in 96 hours of leaching. Gold recovery rates were fairly rapid and extraction was substantially complete after 24 hours. Cyanide consumptions were low with lime consumptions moderate to high. In addition to these tests, Gold Standard reported cyanide soluble gold recoveries from oxidized conglomerate sample pulps that averaged 88.9% for Dark Star and 89.9% for North Dark Star (see news release dated April 10, 2017). Further metallurgical test work is in progress including bottle roll and column leach tests. More than 82% of the block modeled material is considered oxide mineralization.

The 2017 combined Dark Star and North Dark Star oxide mineral resources were constrained by a pit optimization conducted using $1,250 per oz Au along with assumed costs for open pit mining and processing of oxide resources in Nevada. The “in-pit” optimized resources account for a total of approximately 84% of the volume of the drilled and mineralized wire frame area at the combined Dark Star and North Dark Star deposits.

The combined Dark Star and North Dark Star mineral resource estimate is reported in accordance with the Canadian Securities Administrators National Instrument 43-101 and has been estimated using the CIM “Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines” dated November 23rd, 2003 and CIM “Definition Standards for Mineral Resources and Mineral Reserves” dated May 10th, 2014.

Potential for Resource Expansion

As a direct effect of the 2016 Dark Star and North Dark Star drilling program and completing an updated geologic model, additional target zones for resource expansion have been identified in undrilled areas or areas of limited drill hole testing. Shallow and deeper oxide targets have been identified adjacent to existing resources that have good potential to expand the current inferred resources. Along with targets to potentially expand the resource, areas within the existing inferred mineral resource that are defined by widely spaced drilling but with reasonable grades provide the company with potential to convert and grow the indicated portion of the oxide mineral resource. APEX recommends further drilling to test these drill targets in order to expand the existing resources and convert inferred resources to indicated resources.

Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance:
All original sampling was conducted under the supervision of the Company’s project geologists and the chain of custody from the drill to the sample preparation facility was continuously monitored. Core was cut at the company’s facility in Elko and one quarter was sent to the lab for analysis and the remaining core retained in the original core box. A pulp-blank or certified reference material was inserted approximately every tenth sample. The Dark Star core samples were delivered to Bureau Veritas Mineral Laboratories preparation facility in Elko, NV. The samples are crushed, pulverized and sample pulps are shipped to Bureau Veritas certified laboratory in Sparks, NV or Vancouver, BC. Pulps are digested and analyzed for gold using fire assay fusion and an atomic absorption spectroscopy (AAS) finish on a 30-gram split. Original pulps for the check assay program were delivered to the ALS certified lab in Sparks, NV, where the pulps were digested and analyzed for gold using fire assay fusion and an atomic absorption spectroscopy (AAS) finish on a 30-gram split (Au-AA23 method, or if over 10 g Au/t, were re-assayed using the Au-GRA21 method with a gravimetric finish). Data verification of the analytical results includes a statistical analysis of the standards and blanks that must pass certain parameters for acceptance to insure accurate and verifiable results.

The scientific and technical content and interpretations contained in this news release have been reviewed, verified and approved by Steven R. Koehler, Gold Standard’s Manager of Projects, BSc. Geology and CPG-10216, a Qualified Person as defined by NI 43-101, Standards of Disclosure for Mineral Projects.

ABOUT GOLD STANDARD VENTURES – Gold Standard is an advanced stage gold exploration company focused on district scale discoveries on its Railroad-Pinion Gold Project, located within the prolific Carlin Trend. The Company has successfully consolidated the southern end of the Carlin Trend by patiently assembling a 208-sq. km. (80 sq. mi.) land position containing four gold deposits, two of them discovered by Gold Standard. The 2014 Pinion and Dark Star gold deposit acquisitions offer Gold Standard a potential near-term development option and further consolidates the Company’s premier land package on the Carlin Trend. The Dark Star deposit, 2.1 km to the east of Pinion, now has a NI43-101 compliant resource estimate consisting of an Indicated Mineral Resource of 15.38 million tonnes grading 0.54 grams per tonne (g/t) gold (Au), totaling 265,100 ounces of gold and an Inferred Resource of 17.05 million tonnes grading 1.31 g/t Au, totaling 715,800 ounces of gold, using a cut-off grade of 0.20 g/t Au. The Pinion deposit has a NI43-101 compliant resource estimate consisting of an Indicated Mineral Resource of 31.61 million tonnes grading 0.62 g/t Au, totaling 630,300 ounces of gold and an Inferred Resource of 61.08 million tonnes grading 0.55 g/t Au, totaling 1,081,300 ounces of gold, using a cut-off grade of 0.14 g/t Au (announced March 15, 2016). The 2014 through 2016 definition and expansion of these two shallow, oxide deposits demonstrates their growth potential.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the NYSE MKT accepts responsibility for the adequacy or accuracy of this news release.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, included herein including, without limitation, statements about our proposed exploration programs 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.  Risk factors affecting the Company include, among others: the results from our exploration programs, global financial conditions and volatility of capital markets, uncertainty regarding the availability of additional capital, fluctuations in commodity prices; title matters; and the additional risks identified in our filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com) and with the SEC on EDGAR (available at www.sec.gov/edgar.shtml). These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

CAUTIONARY NOTE FOR U.S. INVESTORS REGARDING RESERVE AND RESOURCE ESTIMATES

All resource estimates reported by the Company were calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission for descriptions of mineral properties in SEC Industry Guide 7 under Regulation S-K of the U. S. Securities Act of 1933. In particular, under U. S. standards, mineral resources may not be classified as a “reserve” unless the determination has been made that mineralization could be economically and legally produced or extracted at the time the reserve determination is made. Accordingly, information in this press release containing descriptions of the Company’s mineral properties may not be comparable to similar information made public by US public reporting companies.

On behalf of the Board of Directors of Gold Standard,

“Jonathan Awde”

Jonathan Awde, President and Director

FOR FURTHER INFORMATION PLEASE CONTACT:
Jonathan Awde
President
Tel:      604-669-5702
Email: [email protected]
Website: www.goldstandardv.com

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