Wexford updates disclosure of ownership of Marlin Gold Mining Ltd.

VANCOUVER, July 22, 2016 /CNW/ - Wexford Capital LP ("Wexford") announced today that Wexford Spectrum Trading Limited ("WST") and Wexford Catalyst Trading Limited ("WCT", and together with WST, the "Wexford Funds"), two private investment funds managed by Wexford, acquired ownership of an aggregate of 13,000,000 common shares (the "Common Shares") of Marlin Gold Mining Ltd. ("Marlin"), representing approximately 7.64% of Marlin's issued and outstanding Common Shares. The address of both WCT and WST is c/o Maples & Calder, Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands. The Common Shares are traded on the TSX Venture Exchange.

The 13,000,000 Common Shares were acquired on July 22, 2016 pursuant to a non-brokered private placement under section 3 of BC Instrument 72-503 – Distribution of Securities Outside of British Columbia (the "Private Placement"), which was first announced by Marlin on July 19, 2016. The 13,000,000 Common Shares were purchased at a price of C$0.50 per Common Share, for aggregate gross proceeds of C$6,500,000.

Immediately prior to the completion of the Private Placement, the Wexford Funds owned, directly or indirectly, 132,965,387 Common Shares. Following completion of the Private Placement, the Wexford Funds beneficially hold, directly or indirectly, 145,965,387 Common Shares, representing an increase in the Wexford Fund's securityholding percentage from approximately 84.67% to approximately 85.84% of the issued and outstanding Common Shares.

The Common Shares were acquired to increase the ownership interest of the Wexford Funds in Marlin.  The Wexford Funds may from time to time acquire additional securities, dispose of some or all of the existing or additional securities, or may continue to hold the securities of Marlin.

The head office of Marlin is located at 250-1199 West Hastings Street, Vancouver, British Columbia.

For further information and to obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the Private Placement, please see Marlin's profile on the SEDAR website www.sedar.com.

About Wexford Capital LP

Wexford is an SEC registered investment advisor based in Greenwich, Connecticut and West Palm Beach, Florida, with over $2.7 billion of assets under management. Wexford has particular expertise in the energy/natural resources sector with actively managed investments in coal, oil and gas exploration and production, energy services, mining and related sectors.

Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Wexford Capital LP

or to obtain a copy of the associated Early Warning Report, please contact: Wexford Capital LP, 411 West Putnam Ave., Greenwich, CT 06830, USA, Telephone: [phone], Contact: Arthur Amron