Roughrider Announces Partial Close of $185,000 Financing

Vancouver, BC / ACCESSWIRE / December 31, 2015 – Roughrider Exploration Limited (TSX-V: REL) (“Roughrider”) – is pleased to announce that it has closed $115,000 of a $185,000 financing by way of two private placements (together, the “Financing”), subject to final acceptance by the TSX-Venture exchange.

The Financing consists of the sale of 1,437,500 flow-through units (the “FT Units”) at a price of $0.08 per share, and the sale of up to 1,020,857 non flow-through units (the “Non-FT Units”) at a price of $0.07 per share. The FT Units consist of one flow-through common share and one half of one non-flow-through warrant. The Non-FT Units consist of one non-flow-through common share and one non-flow-through warrant. The warrants that form part of the FT Units and the Non-FT units have identical terms (the “Warrants”). Each whole warrant entitles the holder to purchase one non flow-through common share at a price of $0.12 per common share until December 31, 2017.

The Company will pay cash finder’s fees of up to $11,200 and will issue up to 147,501 finder’s warrants. Each of these finder’s warrants will have the same terms as the Warrants. The proceeds of the Private Placement will be used for exploration on the Genesis Property and on Roughrider’s 100%-owned Athabasca Properties as well as for general working capital purposes.

Scott Gibson, Chief Executive Officer commented “We appreciate the continued support of our shareholders, and are glad to be able to provide shareholders with an opportunity to invest in a tax-efficient manner. These funds will bring us another step closer to earning our interest in our Genesis project in northeast Saskatchewan.”

All securities issued or issuable under the offering are subject to a four-month hold period expiring on May 1, 2016. Final closing of the Private Placement is subject to final acceptance by the TSX Venture Exchange.

About Roughrider Exploration Limited

Roughrider’s focus is exploring the 200,677 hectare (495,883 acre) Genesis uranium project located in the Wollaston-Mudjatik geological trend extending northeast from Saskatchewan’s Athabasca Basin. Roughrider has the option to earn an 85% interest in Genesis from Kivalliq Energy Corporation.

For further information, please contact:

Scott Gibson
Chief Executive Officer
604 697‐0028

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

Completion of this transaction is subject to a number of conditions, including but not limited to Exchange acceptance. The transaction cannot close until the required Exchange approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in a disclosure document of Roughrider prepared in connection with the Private Placement, any information released or received with respect to the Private Placement may not be accurate or complete and should not be relied upon. Trading in the securities of Roughrider should be considered highly speculative. The TSX Venture Exchange has in no way passed upon the merits of the proposed financing and has neither approved or disapproved the contents of this news release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes “forward-looking statements.” All statements, other than statements of historical fact, are to be considered forward-looking statements. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by the company, are inherently subject to significant business, economic, geological and competitive uncertainties and contingencies. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include but are not limited to: fluctuations in market prices, exploration and exploitation successes, continued availability of capital and financing, changes in national and local government legislation, taxation, controls, regulations, expropriation or nationalization of property and general political, economic, market or business conditions. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance and, therefore, readers are advised to rely on their own evaluation of such uncertainties. All of the forward-looking statements made in this press release, or incorporated by reference, are qualified by these cautionary statements. We do not assume any obligation to update any forward-looking statements.

United States Advisory

The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), have been offered and sold outside the United States to eligible investors pursuant to Regulation S promulgated under the U.S. Securities Act, and may not be offered, sold, or resold in the United States or to, or for the account of or benefit of, a U.S. Person (as such term is defined in Regulation S under the United States Securities Act) unless the securities are registered under the U.S. Securities Act, or an exemption from the registration requirements of the U.S. Securities Act is available. Hedging transactions involving the securities must not be conducted unless in accordance with the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in the state in the United States in which such offer, solicitation or sale would be unlawful.

NOT FOR DISTRIBUTION TO U.S. Newswire Services Nor
for dissemination in the United States.

ANY FAILURE TO COMPLY WITH THIS RESTRICTION

MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Source: Roughrider Exploration Limited

ReleaseID: 435250