VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 19, 2017) - Goldstrike Resources Ltd. GSRAPRAFKCG has granted incentive stock options exercisable to purchase up to an aggregate of 9,250,000 shares to directors and executive officers of the Company. All of the options are exercisable at the price of $0.35 per share until May 18, 2027, subject to earlier termination in accordance with their terms and the terms of other agreements which may be in effect from time to time.

All option grants are subject to acceptance by the TSX Venture Exchange. The Company obtained disinterested shareholder approval of the Company's Option Plan providing for such grants at its annual general meeting held on December 16, 2016, and the new Option Plan was accepted for filing by the TSX Venture Exchange on February 21, 2017. As the exercise price of the subject options has been set above the Market Price of the Company's shares, any shares issued pursuant to the exercise of such options will not be subject to the four month Exchange hold period that applies to shares issued on exercise of options priced below the Market Price.

ON BEHALF OF THE BOARD

Terrence E. King

President and Chief Executive Officer

For information on the Company's projects, please visit its website at www.GoldstrikeResources.com. For further information follow the Company's tweets at www.Twitter.com/GoldstrikeRes or contact Jeff Stuart of King James Capital Corporation, handling Investor Relations for the Company, by telephone at (604) 210-2150 or by email at jstuart@kingjamescapital.com.

Neither 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.