Auckland, New Zealand: 14 July 2016 - Besra advises that it has made application to the Ontario Securities Commission to partially revoke the Cease Trade Order (CTO) of 29 December 2014 (amended on 4 March 2015) to enable the company to complete its long awaited refinancing and restructuring. Although we are reluctant to estimate time frames on a process over which we have no control, we are hopeful for a decision in the next three to four weeks.

Besra holds a letter of financing for CAD10-20 million from Molard Financial Management Services SA, a Swiss Fiduciary, representing a pool of private clients, of which CAD$10 million is committed and the remainder is at the option of the investor. It is the company's understanding that the first tranche of $10m will be released upon completion of documentation after the CTO is varied.

The new funds will help to meet creditor proposal arrangements and refocus efforts on the Bau Goldfield in East Malaysia.

The financing will also enable the company to complete the audits of the last two years' financial statements and accordingly cure the filing deficiencies. This should enable the CTO to be lifted and a relisting to occur, subject to market conditions. This process could take up to six months and the specific conditions of the chosen bourse will also be a factor.

Besra will issue a further update once the response from the OSC has been received.

Besra Gold Inc. published this content on 14 July 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 14 July 2016 04:38:03 UTC.

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