ML Gold Completes First Resource Calculation Ever on Palmetto Gold Project

Vancouver, October 2, 2017 - ML Gold Corp. (TSXV: MLG) (FSE: X0VN) ("ML Gold" or the "Company") is pleased to announce a maiden National Instrument 43-101 ("NI 43-101") Inferred Resource Estimate for the 100% owned Palmetto Epithermal Gold Project in Nevada of 10.1 million tonnes grading 0.95 g/t Au, and 7.29 g/t Ag (1.05 g/t AuEq) containing 310,000 ounces of gold, and 2.4 million ounces of silver for a total of 342,000 AuEq ounces in a pit constrained shell. Beneath the pit constrained resource, there is an initial underground inferred resource, completely open to depth and along strike, at 3.6 g/t Au and 10.8 g/t Ag (3.74 g/t AuEq) for an additional 11,753 AuEq ounces, giving a total maiden inferred resource of 353,435 AuEq ounces. The NI 43-101 Technical Report prepared by WSP Canada Inc. ("WSP") will be filed on SEDAR within 45 days of this release.

Table 1 - Palmetto Constrained Resource Statement with cut-off @ 0.14 g/t AuEq for Pit and 2g/t AuEq for Underground (U/G)

Classification	Tonnes (000s)	Au g/t	Ag g/t	AuEq g/t	Au oz	Ag oz.	AuEq oz.
Inferred (Pit)	10,134	0.95	7.29	1.05	310,360	2,374,120	341,720
Inferred (U/G)	98	3.6	10.8	3.74	11,305	33,910	11,755
Total Inferred					321,665	2,408,030	353,475

Figure 1 (below) shows the current extent of drilling and Figure 2 shows a cross section through the eastern end of the resource area. Figure 3 highlights several additional mineralized zones hosting significant grades within close proximity to both the Discovery and Northwest Zones. These zones have yet to be included in the resource estimate due to drilling density. The pit shell was generated by applying certain economic constraints, now required under NI 43-101 disclosure on inferred resource estimates. ML Gold sees these areas having immediate potential to significantly increase the overall resource on the Palmetto Gold Project by increasing the drilling density between mineralized shells (see Figure 3). Evidence suggests that there is significant potential to expand the resource in multiple directions.

The Company is currently permitting a phase two program designed to expand on and discover new areas surrounding the mineralized shells used for the resource (Tables 1 and 2). Outside of the immediate resource area, potential remains to discovery new zones along the northwest trending structural corridor (the "Palmetto Gold Trend") which extends over 3 kilometres to the northwest from the Discovery Zone and includes the past producing Red Rock Mercury mine, and historic underground workings by Newmont.

Figure 1: Palmetto Gold Project Drill Plan Compilation Map

To view an enhanced version of Figure 1, please visit:
http://orders.newsfilecorp.com/files/5509/29377_a1506718766345_41.jpg

Figure 2: North-South Cross-Section thought Discovery Zone (A - A')

To view an enhanced version of Figure 2, please visit:
http://orders.newsfilecorp.com/files/5509/29377_a1506718766611_69.jpg

Figure 3: Northwest Zone Pit area Cross-Section (B-B') showing potential zone to expand resource

To view an enhanced version of Figure 3, please visit:
http://orders.newsfilecorp.com/files/5509/29377_a1506718766861_37.jpg

The Palmetto Project NI 43-101 Inferred Resource Estimate was prepared by independent qualified person Todd McCracken, P. Geo. of WSP. The resource estimate is based on the combination of geological modeling, geostatistics and conventional block modeling using the Ordinary Krig methodology of grade interpolation. The mineralized zones were defined by wire-framed solids consisting of several discrete domains. The mineral resources were estimated using a block model with parent blocks of 5m X 2.5m X 2.5m.

The WSP Resource Estimate also evaluated the Palmetto resource at a range of cut-off grades between 0.05 g/t AuEq and 0.25 g/t AuEq. The grade tonnage table shows how changes in tonnage and grade affect the resource. The Complete Grade tonnage table can be viewed on the Company's website. Results are as follows:

Table 2 - Palmetto Resource Grade-Tonnage Table (full version of this table can be viewed on the company's website)

A) Pit Constrained Resource

AuEq Cut-off (g/t)	Tonnes ('000s)	Au (g/t)	Ag (g/t)	AuEq (g/t)	Au (oz)	Ag (oz)	AuEq (oz)
0.10	11,716	0.84	6.69	0.93	316,430	2,520,930	349,720
0.14	10,134	0.95	7.29	1.05	310,360	2,374,120	341,720
0.17	9,152	1.04	7.70	1.14	305,500	2,266,120	335,430
0.20	8,322	1.12	8.11	1.23	300,580	2,169,780	329,240

B) Underground beneath Pit Constrained Resource

AuEq Cut-off (g/t)	Tonnes ('000s)	Au (g/t)	Ag (g/t)	AuEq (g/t)	Au (oz)	Ag (oz)	AuEq (oz)
1.20	681	1.75	6.41	1.84	38,390	140,365	40,250
2.00	98	3.60	10.80	3.74	11,305	33,910	11,755
2.80	38	7.71	7.93	5.82	7,025	9,745	7,155

Notes to the table of resources:

1. CIM definition standards were followed for the resource estimate.
2. The 2017 resource models used Ordinary Krig grade estimation within a three-dimensional block model with mineralized zones defined by wireframed solids on several mineral domains.
3. A base cut-off grade of 0.14 % g/t AuEq was used for reporting resources.
4. Numbers may not add exactly due to rounding.
5. Mining Cost $1.35/t mined, Processing Cost $5/t processed (heap leach included G & A and Selling Costs)
6. Mining Dilution 0% @ 0 grade and Mining Recovery 100%.
7. Metal Recovery; 80% for Au and 52% for Ag.
8. Metal prices; $1,350/oz Au and $18.00/oz Ag
9. Overall slope angles; 45 for rock, 25 for overburden
10. Gold Equivalent (AuEq) calculated using $1,325/oz Au for gold, $3.00/lb for Copper, and $17.50/oz Ag for silver.
11. Mineral Resources that are not mineral reserves do not have economic viability
12. The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category.

Andrew Bowering, Chairman of ML Gold comments "We are extremely pleased with our team's ability to bring this project to a resource stage within the first year. This initial resource is the result of tying previous work with recent exploration and it highlights the significant potential of the Palmetto Project. Several targets exist along the Palmetto Gold Trend which includes the longest producing mercury mine in Nevada. On this early stage project, with limited drilling to depth, we may be just be poking into the top of the iceberg."

ML Gold Corp. has an option to acquire a 100% right, title and interest to the Palmetto Gold Project (see news release dated October 18, 2016). The Palmetto Project is located in Esmeralda County, Nevada, within the southern portion of the Walker Lane Gold Trend.

The Palmetto resource estimate data in this news release was read and approved by Todd McCracken, P.Geo. of WSP, who is independent of ML Gold Corp. and a Qualified Person ("QP") as defined by Section 1.5 of National Instrument 43-101.

Adrian Smith, P.Geo., is the qualified person for the Company as that term is defined in the National Instrument 43-101, and has supervised the technical information presented within this news release.

ABOUT ML GOLD CORP.

ML Gold Corp. is a Canadian listed Company, focused on creating shareholder value through discoveries and strategic development of mineral properties in Canada and the United States.

For additional information please visit the Company's website at www.mlgoldcorp.com. You may also email info@mlgoldcorp.com or call investor relations at (604) 669-2279.

ML GOLD CORP.

"Andrew Bowering"

Andrew Bowering
Chairman

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