Gossan Grants Stock Options

Winnipeg, Manitoba--(Newsfile Corp. - March 18, 2016) - Gossan Resources Limited (TSXV: GSS) (Frankfurt/Freiverkehr & Xetra - WKN 904435) has awarded 950,000 incentive stock options to officers, directors and employees of the Company. This grant of options is in compliance with the terms of the Company's Stock Option Plan and remains subject to the acceptance of the TSX Venture Exchange.

Five officers and directors were granted a total of 880,000 stock options: 290,000 options exercisable at $0.05 per share with an expiry of March 21, 2017; and 590,000 options exercisable at $0.05 per share with an expiry of March 18, 2021. This grant of options was awarded after the close on March 18, 2016.

Gossan Resources Limited is engaged in mineral exploration and development in Manitoba and northwestern Ontario. It has a well-diversified portfolio of properties hosting gold, platinum group and base metals, as well as the specialty and minor metals, vanadium, titanium, tantalum, lithium and chromium. The Company also has a large deposit of magnesium-rich high-purity dolomite. Gossan participates in the frac sand industry though an equity interest in Claim Post Resources, property payments, and a significant production royalty. The Company trades on the TSX Venture and the Frankfurt/Freiverkehr & Xetra Exchanges and has 33,170,400 common shares outstanding.

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 news release.

For further information, please bookmark www.gossan.ca or contact:

Douglas Reeson, Chairman & CEO
Gossan Resources Limited
Tel: (416) 533-9664
E-Mail: info@gossan.ca