VANCOUVER, BC / ACCESSWIRE / December 9, 2016 / Goldbelt Empires Limited (TSXV: GBE) (the "Company" or "Goldbelt Empires") is pleased to announce details of a non-brokered private placement offering (the "Offering") of up to 10,000,000 units of the Company ("Units") at a price of $0.05 per Unit for gross proceeds of up to $500,000. Each Unit shall consist of one ordinary share in the capital of the Company ("Ordinary Shares") and one warrant for the purchase of an Ordinary Share at an exercise price of $0.075 per Ordinary Share.

As announced in the Company's November 18, 2016 news release, the Company has engaged Gravitas Securities Inc. ("GSI") as a financial and strategic advisor under a Finder's Fee Agreement in conjunction with the Offering. The Company has agreed to pay GSI a finder's fee of 8% of the gross proceeds from the Offering, and finder's warrants for the purchase of Ordinary Shares at an exercise price of $0.075 per Ordinary Share in such number equal to 8% of the number of Units subscribed for under the Offering.

The proceeds of the Offering will be used for Phase II of the South Morila exploration program and general working capital requirements. Goldbelt Empires previously reported the successful completion of its Phase 1 exploration program over South Morila where multiple targets were identified that the Company believes are highly prospective.

Andrew Dacey (R.P.Geo & FIMMM), Goldbelt Empire's technical advisor, is the Qualified Person, as defined by National Instrument 43-101, who has approved the scientific and technical information, and verified the data except where otherwise noted, in this news release.

About Gravitas Securities Inc.

GSI known for sophisticated sector expertise, tactical individuals with a commitment to excellence, global integration and innovation and as a leading independent wealth management and capital markets firm. GSI provides a wide range of investment mandates and services for retail and corporate clients globally from offices in Toronto, Calgary and is represented in the United States through its FINRA representative, Gravitas Capital International, in New York and San Francisco.

About Goldbelt Empires

Goldbelt Empires is a gold explorer focused on the West African Goldbelt, and listed its shares on the TSX Venture Exchange in October 2015. Its flagship property is the South Morila gold concession in the Republic of Mali. The South Morila concession covers an area approximately 150 km2 in size, and is located in the southern part of Mali approximately 250 km southeast of the capital of Bamako. www.goldbeltempires.com

Additional Information on Goldbelt Empires Ltd.

For more information on the business and property of the Company, readers are referred to the Company's Final Prospectus dated September 22, 2015, available at the Company's SEDAR profile at www.SEDAR.com.

The foregoing contains forward-looking information relating to the future performance of the Company including information relating to the Offering, the Finder's Fee Agreement, development of the South Morila exploration program, the Company's ability to meet capital requirements (in part from funds raised under the Offering), corporate development activities and other activities. Forward looking information is subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Such risks and other factors include, among others, the ability to complete the Offering in full or in part, obtaining the acceptance of the TSX Venture Exchange, the actual results of development activities, changes in world commodity markets or equity markets, the risks of the mining industry including, without limitation, those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or exploration activities, title disputes, change in government and changes to regulations affecting the mineral industry, and other risks and uncertainties detailed from time to time in the Company's filings with Canadian securities regulatory authorities (available at www.SEDAR.com). Forward-looking statements are made based on various assumptions and on management's beliefs, estimates and opinions on the date the statements are made. Although the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the forward-looking information contained herein. The Company undertakes no obligation to update forward-looking statements if these assumptions, beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.

Forward looking information involves known and unknown risks, uncertainties, assumptions (including, but not limited to, assumptions on the performance and financial results of the properties of the Company and certain other risks detailed from time to time in the Company's public disclosure documents including, without limitation, those risks identified in the Final Prospectus which is available on the Company's SEDAR profile at www.sedar.com) and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information.

This press release is not an offer of the securities for sale in the United States. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

Neither the 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 press release.

CONTACT INFORMATION

Goldbelt Empires Limited
Jonathan Challis
Chief Executive Officer and Director
United Kingdom
Telephone: +44 (78) 4120-2386

Goldbelt Empires Limited
Victor Dusik
Chief Financial Officer and Director
Executive Corporate Secretary
Canada
Telephone: +1 (604) 818-4100

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

SOURCE: Goldbelt Empires Limited