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Leagold Reports Initial Results from 2018 Los Filos Underground Mine Drilling Program

May 7, 2018

Vancouver, May 7, 2018 – Leagold Mining Corporation (TSX:LMC; OTCQX:LMCNF) ("Leagold" or the "Company") reports drilling results for the Los Filos Underground mine in Mexico. Highlights are from the Nukay, Conchita and Creston Rojo deposits and include 24.2 grams per tonne ("gpt") over 4.10 metres; 23.6 gpt over 6.95 metres; and 9.1 gpt over 8.69 metres respectively (all capped grades and true widths; see Table 1).

Los Filos currently operates two open pit mines, Los Filos and Bermejal, and one underground mine at Los Filos. The Los Filos Underground mine provides high grade (5 to 8 g/t Au) ore at a mining rate of 1,500 tonnes of ore per day.

The Los Filos Underground mine is comprised of two sectors: the Norte Mine and the Sur Mine. Drilling in the Norte Mine shows extensions to the Nukay deposit at depth and on the eastern side. In the Sur Mine, the drilling has identified additional mineralization as extensions to the Zona 70 and Creston Rojo deposits.

The objective of the Los Filos Underground mine drilling program is to identify additional resources to replace reserves and extend the overall mine life. The program is on track with over 12,000 metres of step-out drilling completed to date and the majority of the exploration drilling to take place in the second half of this year. Drilling of a total of 62,000 metres is planned for 2018 and is focused on several deposits along the contact of the circular intrusive bodies. All of the holes that have been completed in this program intersected oxide skarn mineralization at the contact of the intrusive. A total of 52 intercepts were encountered in 32 holes. The drill holes reported in this news release will be incorporated into a final resource estimate for year-end reporting.

Table 1: Drill Program Highlights for Los Filos Underground Mine

Sector Zone Hole ID Zone From
(m)
To
(m)
Length
(m)
True
Width
(m)
Grade
(g/t Au)
Capped
(g/t Au)
Norte Nukay UNK-01-18 RAM 5.05 8.85 3.80 3.79 3.07  
    and CON 29.15 32.60 3.45 3.44 4.51  
Norte Nukay UNK-02-18 RAM 4.85 10.25 5.40 5.38 9.40  
    and CON 33.95 38.55 4.60 4.58 6.23  
Norte Nukay UNK-04-18 CON 151.80 155.55 3.75 2.87 4.05  
Norte Nukay UNK-05-18 RAM 61.00 68.10 7.10 5.44 5.06  
    and RAM 75.35 79.85 4.50 3.45 5.81  
    and RAM 87.65 93.00 5.35 4.10 27.44 24.19
    and RAM 102.10 107.90 5.80 4.44 4.89  
Norte Nukay UNK-07-18 CON 130.60 131.45 0.85 0.80 54.80 40.00
    and RAM 139.65 143.35 3.70 3.48 4.57  
Norte Nukay UNK-08-18 RAM 122.30 125.85 3.55 2.72 8.18  
    and RAM 132.60 133.95 1.35 1.03 21.50  
Norte Nukay UNK-11-18 RAM 140.00 144.05 4.05 3.51 4.77  
    and CON 194.10 204.20 10.10 8.75 8.94 8.01
    including CON 194.10 196.65 2.55 2.21 4.88  
    including CON 198.25 201.30 3.05 2.64 22.81 19.71
Norte Nukay UNK-12-18 CON 94.55 104.70 10.15 9.54 9.71  
Norte Nukay UNK-13-18 CON 107.75 122.10 14.35 10.99 4.38  
    including CON 107.75 110.75 3.00 2.60 8.25  
    including CON 116.90 122.10 5.20 4.50 5.44  
    and CON 138.25 141.25 3.00 2.60 13.28  
Norte Peninsular UP-01-18 CON 92.60 94.45 1.85 1.82 11.87  
Norte Peninsular UP-03-18 RAM 70.95 71.95 1.00 0.98 24.10  
Norte Peninsular UP-04-18 RAM 57.35 59.30 1.95 1.49 14.70  
Norte Conchita LC-01-18 RAM 99.45 106.65 7.20 6.95 31.48 23.64
    and RAM 113.35 115.60 2.25 2.17 8.07  
    and RAM 124.45 132.00 7.55 7.29 5.85  
    including RAM 127.30 132.00 4.70 4.54 7.49  
Norte Conchita LC-03-18 RAM 135.45 138.00 2.55 2.21 29.59 23.85
    and CON 152.55 163.90 11.35 9.83 6.40  
    and CON 170.85 174.60 3.75 3.25 3.75  
    and RAM 187.50 194.00 6.50 5.63 4.77  
Norte Conchita LC-05-18 CON 117.00 120.95 3.95 3.71 4.55  
    and CON 123.40 126.50 3.10 2.91 4.40  
    and RAM 141.20 142.50 1.30 1.22 26.40  
Sur Creston Rojo US-01-18 CON 24.05 27.20 3.15 3.14 6.86  
Sur Creston Rojo US-02-18 CON 26.30 34.65 8.35 7.57 9.21  
    including CON 26.30 28.65 2.35 2.13 16.75  
    including CON 32.25 34.65 2.40 2.18 10.20  
Sur Creston Rojo US-04-18 CON 24.10 26.55 2.45 2.45 3.81  
Sur Creston Rojo US-09-18 RAM 37.65 39.10 1.45 1.40 21.00  
Sur Creston Rojo US-11-18 CON 115.20 117.75 2.55 2.09 7.95  
Sur Creston Rojo US-14-18 CON 59.00 60.80 1.80 1.38 10.60  
Sur Creston Rojo US-19-18 CON 62.75 65.05 2.30 1.76 5.83  
Sur Creston Rojo US-20-18 CON 34.00 36.65 2.65 2.64 11.18  
    and CON 40.95 43.10 2.15 2.14 16.41  
Sur Creston Rojo CRZ-182-17 CON 333.40 336.20 2.80 2.29 8.18  
Sur Creston Rojo CRZ-183-18 CON 159.60 162.20 2.60 2.44 9.31  
Sur Creston Rojo CRZ-185-18 CON 179.80 184.45 4.65 4.37 11.30  
Sur Creston Rojo CRZ-187-18 CON 81.55 82.90 1.35 1.27 10.75  
    and CON 199.65 207.65 8.00 7.52 6.48  
    Including CON 199.65 202.75 3.10 2.91 14.03  
Sur Creston Rojo CRZ-189-18 CON 266.15 275.40 9.25 8.69 9.07  
    and CON 284.30 285.35 1.05 0.99 10.90  
Sur Creston Rojo CRZ-191-18 RAM 180.35 182.80 2.45 2.37 5.42  
Sur Creston Rojo CRZ-193-18 RAM 206.05 211.60 5.55 4.81 5.02  
Sur Creston Rojo CRZ-194-18 CON 132.00 138.90 6.90 6.48 9.85  
    including CON 132.00 136.05 4.05 3.81 14.47  
    and RAM 146.05 147.20 1.15 1.08 11.15  
Sur Creston Rojo CRZ-195-18 CON 214.55 224.20 9.65 9.07 3.31  
    including COM 220.30 224.20 3.90 3.66 4.46  

NOTES:

  • Intervals in bold are mentioned in the text of the news release
  • CON = oxide mineralization at the intrusive contact; RAM= mineralization in a separate zone that is away from the contact
  • Only Intercepts with over 3 gpt when diluted to a minimum true width of 3 metres are shown
  • Individual assays within the intercepts were capped using 40 g/t limit

Qualified Persons

Doug Reddy, P.Geo, Leagold's Senior Vice President – Technical Services, is a Qualified Person under NI 43-101, and has reviewed and approved the technical contents of this news release on behalf of Leagold.

The Los Filos mine employs industry standard drilling and sampling procedures. All exploration samples are sent to an ALS Global facility in Guadalajara for preparation and in Vancouver for analyses by fire assay and ICP - OES (Inductively Coupled Plasma optical emission spectrometry). A full quality control and assurance program and protocols are in place and are aligned with best practices including regular insertion of certified reference standards, blanks, and duplicates.

About Leagold Mining Corporation

Leagold is building a mid-tier gold producer with a focus on opportunities in Latin America. The Company is based in Vancouver, Canada and owns 100% of the Los Filos mine in Mexico. Leagold is listed on the TSX under the trading symbol "LMC" and trades on the OTCQX market as "LMCNF". For more information on Leagold please visit the Company website at www.leagold.com or contact:

Meghan Brown, VP – Investor Relations
+1-604-398-4525
[email protected]

This news release contains "forward-looking statements" and "forward looking information" (as defined under applicable securities laws), including but not limited to plans for future development of and drilling at the Los Filos Mine and plans for a final resource estimate. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts" and "anticipates". Forward-looking statements and information, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the Los Filos Mine, risks related to the successful integration of the acquisition; risks related to international operations; risks related to general economic conditions and credit availability, actual results of current exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; fluctuations in foreign currency exchange rates, increases in market prices of mining consumables, possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of development or construction activities, changes in national and local government regulation of mining operations, tax rules and regulations, and political and economic developments in countries in which Leagold operates. Although Leagold has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The forward-looking statements and forward-looking information are made as of the date hereof and Leagold disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements or forward-looking information contained herein to reflect future results. Accordingly, readers should not place undue reliance on forward-looking statements and information. Please refer to Leagold's most recent filings under its profile at www.sedar.com for further information respecting the risks affecting Leagold and its business.

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