Dalradian Announces Director Dealing and Exercise of Warrants

TORONTO, May 20, 2016 - About Dalradian Resources Inc. (TSX:DNA)(AIM:DALR) ("Dalradian" or the "Company") announces that 250,000 restricted share units ("RSUs") held by Thomas Obradovich matured on 17 May 2016 and Mr. Obradovich has been allotted 250,000 common shares of no par value ("Common Shares") for nil consideration. Mr Obradovich now holds 371,500 Common Shares and no RSUs, representing 0.17% of the issued share capital of the Company.

The Company also announces that a total of 187,821 of Dalradian's common share broker purchase warrants originally issued on 19 February 2014 (the "February Warrants") were exercised on 7 August 2015 (125,214) and 14 August 2015 (62,607) prior to their expiry on 19 August 2015 at a price of C$0.70, resulting in proceeds to the Company of C$131,475. Additionally 878,138 of Dalradian's common share broker purchase warrants originally issued on 31 July 2014 (the "July Warrants") were exercised on 20 April 2016 (95,871), 27 April 2016 (48,051), 28 April 2016 (590,178) and 9 May 2016 (144,038) prior to their expiry on 31 July 2016 at a price of C$0.90, resulting in proceeds to the Company of C$790,324. Lastly, a total of 122,579 of Dalradian's common share purchase warrants originally issued on 7 October 2015 ("October Warrants") were exercised on 19 April 2016 (5,000), 20 April 2016 (55,000) and 21 April 2016 (62,579) prior to their expiry on 7 October 2017 at a price of C$1.04, resulting in proceeds to the Company of approximately C$127,482.

The shares issued upon exercise of the February Warrants and July Warrants were admitted for trading on the AIM market of the London Stock Exchange as part of the block admission announced on 3 February 2015 ("Warrant Admission").

Further to the RSUs maturing and the exercise of the October Warrants, application has been be made for 372,579 Common Shares, which rank pari passu with the existing Common Shares in issue, to be admitted to trading on AIM and admission is expected to occur at 8:00am on or around 27 May 2016 (the "Admission").

Following the Warrant Admission and the Admission, the Company will have in issue 216,984,609 Common Shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.


About Dalradian Resources Inc.

Dalradian Resources Inc. is a gold exploration and development company that is focused on advancing its high-grade Curraghinalt Gold Project located in Northern Ireland, United Kingdom. The Company is in the midst of a work program in support of a planning (permitting) application for construction of an operating mine at Curraghinalt. Components of the program include a feasibility study, an environmental and social impact assessment and underground exploration (at least 950 metres of development with associated test stoping).



For more information:

About Dalradian Resources Inc.
Marla Gale, Vice President Communications
+1 416 583 5622
investor@dalradian.com

Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett / Richard Tonthat / Harrison Clarke
+44 (0)20 7383 5100

Canaccord Genuity Limited (Broker)
Henry Fitzgerald-O'Connor / Martin Davison
+44 20 7523 8000



[b]FORWARD-LOOKING STATEMENTS[/b]

This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its subsidiaries and its mineral project, the future price of metals, test work and confirming results from work performed to date, the estimation of mineral resources, the realization of mineral resource estimates, the timing and amount of estimated future production, costs of production, capital, operating and exploration expenditures, costs and timing of the development of new deposits, costs and timing of future exploration, requirements for additional capital, government regulation of mining operations, environmental risks, reclamation expenses, title disputes or claims, limitations of insurance coverage, the timing and possible outcome of pending regulatory matters and the realization of the expected economics of the Curraghinalt gold deposit. Often, but not always, forward-looking statements can be identified by the use of words and phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions such as the continued political stability in Northern Ireland, that permits required for Dalradian's operations will be obtained on a timely basis in order to permit Dalradian to proceed on schedule with its planned exploration and development programs, that skilled personnel and contractors will be available as Dalradian's operations continue to grow, that the price of gold will be at levels that render Dalradian's mineral project economic, that the Company will be able to continue raising the necessary capital to finance its operations and realize on mineral resource estimates and current mine plans, that the assumptions contained in the Company's Preliminary Economic Assessment are accurate and complete, that results from the infill drilling program continue to be positive, that the mineral resource update is positive, that the results of the Environmental and Social Impact Assessment and the Feasibility Study will be positive and that a permitting application for mine construction will be approved.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Dalradian to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, general business, economic, competitive, political and social uncertainties; the actual results of current and future exploration activities; the actual results of reclamation activities; conclusions of economic evaluations; meeting various expected cost estimates; changes in project parameters and/or economic assessments as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; the risk that actual costs may exceed estimated costs; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; political instability; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled "Risk Factors" in the Company's annual information form. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.