Renaissance Gold Announces Strategic Investment by Altius Minerals

Not for Distribution to U.S. Newswire Services or for Dissemination in the United States

VANCOUVER, April 24, 2019 - Renaissance Gold Inc. (TSX-V:REN / OTCQB:RNSGF) ("RenGold") is pleased to announce that Altius Minerals Corp. (TSX:ALS) ("Altius") has agreed to invest $1,429,054 by way of a non-brokered private placement through the issuance of 5,716,216 units at a price of $0.25 per unit (a "Unit"). Each Unit will consist of one common share and one non-transferable common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one additional common share of the Company at a price of $0.50 until expiry five years from the date of closing the private placement. If the volume weighted average trading price of the common shares of the Company is at least $0.75 per share for 20 consecutive trading days in the period commencing twelve months after the closing date, the Company will have the right, exercisable within three trading days thereof, to accelerate the expiry date of the Warrants to the date which is 30 days after notice is given to the holders of the warrants of the accelerated expiry date and a news release to that effect is given. The Company reserves the right to increase the size of the private placement or to modify the type, nature and/or price of the Units for any reason.

Prior to completion of the private placement Altius owned 1,083,784 common shares of RenGold representing 1.7%. After completion of the private placement Altius will own 6,800,000 common shares of RenGold representing 9.9%. If Altius exercise all of its Warrants, then Altius would own and control an aggregate of 12,516,216 common shares of RenGold representing an ownership interest of approximately 16.9% (post-issuance).

Altius purchased the Units for investment purposes. Depending on market conditions and other factors, Altius may from time to time acquire and/or dispose of securities of RenGold or continue to hold its current position.

The private placement and any modification to it are subject to compliance with applicable securities laws and to receipt of regulatory approval. The proceeds from the private placement will be used by RenGold for general corporate purposes.

About Renaissance Gold Inc.

Renaissance Gold Inc. is a western US focused prospect generator utilizing a joint venture business model. RenGold applies the extensive exploration experience and high-end technical skills of its founders and team members to search for and acquire high-quality precious metal exploration projects that are then offered for joint venture to industry partners who provide exploration funding. RenGold maintains a large portfolio of gold and silver exploration properties and has entered into over 70 exploration agreements including those as its predecessor, AuEx Ventures Inc., and those from Kinetic Gold. RenGold's objective is to place its projects into exploration agreements, testing as many drill targets as possible and providing maximum exposure to success through discovery.

About Altius Minerals Corporation

Altius, directly and indirectly, holds diversified royalties and streams which generate revenue from 15 operating mines. These producing royalties are located in Canada and Brazil and provide exposure to copper, zinc, nickel, cobalt, iron ore, potash, thermal (electrical) and metallurgical coal. The portfolio also includes development stage royalties in copper and renewable energy and numerous predevelopment stage royalties covering a wide spectrum of mineral commodities and jurisdictions. Altius also holds a portfolio of junior equities that were generated from vending exploration projects to industry partners in exchange for minority equity interests and new royalties.

THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF ANY OF THE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL, INCLUDING ANY OF THE SECURITIES IN THE UNITED STATES OF AMERICA. THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933 (THE "1933 ACT") OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE 1933 ACT) UNLESS REGISTERED UNDER THE 1933 ACT AND APPLICABLE STATE SECURITIES LAWS, OR AN EXEMPTION FROM SUCH REGISTRATION REQUIREMENTS IS AVAILABLE.

By: Robert Felder, President & CEO

For further information, contact:

Robert Felder 775-337-1545 or bfelder@rengold.com
Ronald Parratt 775-337-1545 or rparratt@rengold.com

Neither the 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 release.

This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Renaissance Gold Inc. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Renaissance Gold Inc.'s management on the date the statements are made. Except as required by law, Renaissance Gold Inc. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

SOURCE: Renaissance Gold Inc.