Goldspike Announces Closing of $500,000 Non-Brokered Private Placement and Option Grants

TORONTO, Aug. 12, 2014 (GLOBE NEWSWIRE) -- Goldspike Exploration Inc. (TSX-V:GSE) ("Goldspike") is pleased to announce that further to its press release of July 9, 2014, it has completed a non-brokered private placement financing with Norvista Capital Corporation ("Norvista") (TSX-V:NVV) for aggregate gross proceeds of $500,000 (the "Offering"). The Offering consisted of the sale of 3,333,333 common shares in the capital stock of Goldspike (the "Shares") at a price of $0.15 per Share. Goldspike intends to use the net proceeds from the Offering to fund continued exploration on Goldspike's assets and for general working capital purposes.

The Shares issued pursuant to the Offering will be subject to a four month and one day statutory hold period.

Option Grant

Goldspike is also pleased to announce the grant of a total of 1,400,000 stock options to its directors and a consultant pursuant to Goldspike's incentive stock option plan. The stock options were granted effective today, exercisable at a price of $0.15 per Share and expire on August 12, 2019. The options vested immediately upon grant.

CAUTIONARY STATEMENT: Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Goldspike's objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments, and those risks set out in Goldspike's public documents filed on SEDAR. Although Goldspike believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Goldspike disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

CONTACT: Goldspike Exploration Inc.
 4 King Street West, Suite 1500
 Toronto, Ontario M5H 1B6
 Tel: (416) 504-8821

 Bruce Durham, President and CEO