BOWMORE Announces Private Placement

MONTREAL, QUEBEC--(Marketwired - Mar 17, 2016) - BOWMORE Exploration Ltd. (the "Company" or "Bowmore") (TSX VENTURE:BOW)(0B5.F) is pleased to announce that it has negotiated, subject to regulatory approval, a non-brokered private placement (the "Private Placement") for total gross proceeds of up to $750,000 (the "Private Placement"). The Private Placement will consist of up to 5,000,000 units (the "Units") at a price of $0.07 per Unit, each Unit consisting of one common share to be issued and one-half of one common share purchase warrant, and up to 4,000,000 flow-through units (the "Flow-through Units") at a price of $0.10 per Flow-through Unit, each Flow-through unit is comprised of one flow-through common share and one-half common share purchase warrant. Each whole Warrant (of the "Units") will entitle the holder to acquire one common share of the Company for a period of twenty four (24) months at an exercise price of $0.15 for the first twelve months and $0.20 thereafter per share.

Some of the Units will be acquired by insiders of the Company and related party members and the remaining Units by other accredited investors. The Company has determined that there are exemptions available from the various requirements of TSX Venture Policy 5.9 and Multilateral Instrument 61-101 for the issuance of the securities to the insiders and related party members. No new insiders are anticipated to be created, nor will there be any change of control as a result of the Private Placement.

The net proceeds from the Private Placement will be used to fund exploration work and working capital. Closing of the Private Placement is subject to TSX Venture Exchange approval. The securities issued will be subject to a standard four month hold period.