Edmonton, AB, May 3, 2017-Bandera Gold Ltd. (TSXV:BGL)(‘Bandera’) announced today that it has entered into debt settlement agreements to settle indebtedness in the amount of $89,763.30 The debt will be settled pursuant to the issuance of 897,633 common shares of Bandera at a deemed price of $0.10 per share.

The debt settlement is subject to the approval of the TSX Venture Exchange.

On Behalf of the Board,

Peter Gommerud

For further information please contact:

Peter Gommerud, CEO (780) 465-4129

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