SGZ.L Regulatory News (SGZ)

Scotgold Resources Limited

("Scotgold" or the "Company")

Director Dealing

The Company announces that on 22 March, Nathaniel Le Roux, Non-Executive Chairman of the Company, was issued 56,846,154 unquoted options over ordinary shares in the Company, exercisable at A$0.012 at any time prior to 31 March 2016. These options were issued as a condition of the issue of shares following the partial exercise of a convertible note. The convertible note and resulting issue of shares and attaching options were approved by shareholders at a general meeting on 30 July 2014.

On or about 30 March 2016, Mr Le Roux sold 20,593,750 of the 56,846,154 unexercised options for consideration of 0.01 pence per option, including 1,000,000 to Mr Richard Gray, Managing Director and CEO of the Company. The remainder of the options issued to Mr Le Roux have now expired, unexercised.

The 20,593,750 options were exercised prior to expiry and the shares are expected to be issued on or before 14 April 2016. Application will be made for the ordinary shares the subject of the exercise to be admitted to trading on AiM and admission is expected on or before 20 April 2016.

The interests of Mr Le Roux and Mr Gray following the transaction are as follows:

*-Expring 30/09/2017 and exercisable at £0.01

Following admission of the 20,593,750 new shares, the Company's enlarged issued share capital will comprise 1,437,327,443 shares, with voting rights. The Company does not hold any Shares in treasury, therefore the total number of shares in the Company with voting rights will be 1,437,327,443.

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