16:00 EST Thursday, May 26, 2016 MONTREAL, QUEBEC--(Marketwired - May 26, 2016) - Golden Tag Resources Ltd. (TSX VENTURE:GOG) ("Golden Tag") announces that it will seek to raise up to $900,000 through the issuance of up to 18 million equity units (each a "Unit"), each Unit consisting of one common share ("Shares") and one five year Share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Share at a price of $0.07 per Share if exercised in the first year and $0.12 per share if exercised in years two through five from Closing. Insiders of Golden Tag may subscribe for $170,000 (3.4 million Units) of the placement, of which $100,000 is subject to shareholders approval at the 2016 shareholders meeting which has been rescheduled to June 27, 2016 in Montreal. The terms of the placement and any finders fees are subject to TSX Venture acceptance. Completion is targeted for June 27, 2016 and is subject to the negotiation and execution of definitive agreements as well as customary closing conditions. Of the proceeds raised, $500,000 will be used to purchase the remaining 50% interest in the San Diego silver project announced April 12, 2016 with any excess to be used for general corporate purposes. The placement is subject to a condition that a minimum amount of $500,000 being raised to allow the acquisition of the 50% interest in the San Diego project however this condition may be waived by the subscribers. Golden Tag Resources Ltd. is a junior exploration company exploring for high grade gold and silver deposits at the San Diego silver project in Durango State, Mexico; the Aquilon Gold project in James Bay, Quebec; and the McCuaig gold project in Red Lake, Ontario. Golden Tag has 58,426,558 issued and outstanding shares therefore this placement could represent dilution of 36 million shares (which assumes all Warrants are exercised) or 61.6%. The transaction is exempt from minority shareholder approval and valuation requirements under multilateral instrument 61-101 because the transaction is less than $2.5 million.