TORONTO, May 19, 2021 /PRNewswire/ - Battle North Gold Corporation (TSX: BNAU) (OTCQX: BNAUF) ("Battle North" or the "Company") today announced the completion of the previously announced plan of arrangement under the Business Corporations Act (British Columbia), pursuant to which Evolution Mining Limited ("Evolution") (ASX: EVN), through its wholly-owned subsidiary Evolution Mining (Canada Holdings) Limited, has acquired all of the issued and outstanding common shares ("Shares") of Battle North at a price of C$2.65 in cash per Share (the "Arrangement").

As a result of the Arrangement, Battle North has become an indirect wholly-owned subsidiary of Evolution, and the Shares are anticipated to be de-listed from the Toronto Stock Exchange on or about May 20, 2021. The Company will also submit an application to cease to be a reporting issuer under applicable Canadian securities laws and to otherwise terminate the Company's public reporting requirements.

About Battle North Gold Corporation
Battle North is developing the Bateman Gold Project to become the next gold producer in the renowned Red Lake Gold District in Ontario, Canada and controls the second largest exploration ground in the district. Battle North also owns a large gold exploration land package on the Long Canyon gold trend near the Nevada-Utah border in the United States. For more information, please visit our website at www.battlenorthgold.com.

About Evolution Mining Limited
Evolution is a leading, growth-focused Australian gold miner. Evolution operates five wholly-owned mines – Cowal in New South Wales, Mt Carlton and Mt Rawdon in Queensland, Mungari in Western Australia, and Red Lake in Ontario, Canada. In addition, Evolution holds an economic interest in the Ernest Henry copper gold mine in Queensland.

Cautionary Statement regarding Forward-Looking Statements

This news release contains statements that constitute "forward-looking statements" and "forward looking information" (collectively, "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation. Generally, these forward-looking statements can be identified by the use of words, expressions or statements that certain actions, events or results can, could, may, should, will (or not) be achieved or occur, or are expected, in the future including with respect to the delisting of the Shares and the submission of an application to cease to be a reporting issuer and the timing thereof. In some cases, forward-looking information may be stated in the present tense, such as in respect of current matters that may be continuing, or that may have a future impact or effect. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and represent management's best judgment based on facts and assumptions that management considers reasonable. If such opinions and estimates prove to be incorrect, actual and future results may be materially different than expressed in the forward- looking statements. Forward-looking statements involve known and unknown risks, uncertainties, contingencies and other factors which may cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by the forward-looking statements. Such risks, uncertainties, contingencies, assumptions and other factors include the "Risk Factors" in the Circular, the "Risk Factors" in Battle North's annual information form dated March 29, 2021 ("2021 AIF") and the risks described in Battle North's management's discussion and analysis for the year ended December 31, 2020 (the "2020 MD& A"). The foregoing list of risks, uncertainties, contingencies, assumptions and other factors is not exhaustive; readers should consult the more complete discussion of Battle North's business, financial condition and prospects that is provided in the 2021 AIF. As a consequence, actual results in the future may differ materially from any forward-looking statement, whether expressed or implied. 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 or otherwise, except as required by applicable securities laws. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

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SOURCE Battle North Gold Corporation