VANCOUVER, BC--(Marketwired - April 04, 2017) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS WIRE SERVICES.

Broadway Gold Mining Ltd. (TSX VENTURE: BRD) (OTCQB: BDWYF) (FRANKFURT: BGH.F) ("Broadway" or the "Company") is pleased to announce that it intends to offer for sale, on a non-brokered private placement basis, up to 5,000,000 units of the Company (the "Units") for aggregate gross proceeds of up to $5,000,000 (the "Offering"). Each Unit will be comprised of one common share in the capital of the Company (each, a "Common Share"), and one half (1/2) Common Share purchase warrant (each whole such warrant, a " Warrant"), with each Warrant being exercisable to acquire one Common Share at a price of $1.60 for a period of 18 months following the closing date of the Offering. Closing is expected on or about April 21, 2017, or such other date(s) as the Company may determine.

The Units will be offered on a private placement basis pursuant to the "accredited investor" exemptions under National Instrument 45-106 and certain other available and agreed upon exemptions from the prospectus requirement. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

The proceeds derived from Offering will be used for general corporate purposes and for geophysics, underground and surface drilling on its Madison copper-gold project. The Company will pay finders fees equal to 6% of the gross proceeds raised by the Company and issue compensation options equal to 10% of the number of Units sold. The compensation options will be exercisable to acquire one Unit for a period of 18 months from the date of issuance thereof at an exercise price of $1.00 per Common Share. All securities sold or issued in connection with the Offering will be subject to a hold period of four months and one day from the date of issuance thereof. The Offering is subject to the approval of the TSX Venture Exchange.

About Broadway Gold Mining Ltd.

Broadway Gold Mining Ltd. is a resource company focused on development-stage projects with unexploited exploration potential. The company owns a 100% interest in the Madison copper-gold project located in the Butte-Anaconda mining region of Montana, USA. The Madison project is permitted for exploration and contains a past-producing underground mine that Broadway has refurbished. While actively expanding known copper and gold zones that remain open for development in the mine's perimeter, the company's exploration program has identified new anomalies across its extensive land package that provides compelling drill targets that are believed to be associated with large-scale porphyry mineralization.

Cautionary Statement Regarding Forward-Looking Information

This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to the business of Broadway. Forward-looking statements are identified by words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions. These statements are based on the Company's expectations, estimates, forecasts and projections and include statements relating to the completion of the Offering and the use of proceeds from the Offering. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. These risks and uncertainties are discussed in the Company's regulatory filings available on SEDAR at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. Except as required by applicable law, the Company undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances.

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