Big Ridge Announces Closing of $7.0 Million Non-Brokered Private Placement Supported by Strategic Shareholders, with Michael Gentile Increasing His Position to 19.9%

Big Ridge Gold Corp. (TSXV: BRAU) (OTCQB: ALVLF) (" Big Ridge " or the " Company ") announced that it has closed its previously announced non-brokered private placement (the " Offering ") of 23,333,333 units (the " Units ") of the Company at a price of C$0.30 per Unit, for aggregate gross proceeds of $7,000,000. Each Unit consists of one common share (a " Share ") of the Company and one common share purchase warrant (a " Warrant ") of the Company. Each Warrant is exercisable into one common share of the Company at a price of C$0.46 per common share and expires on July 7, 2029.

The Company intends to use the net proceeds of the Offering to fund exploration of the Hope Brook Gold Project and for general corporate overhead. In conjunction with the Offering, Mr. Michael Gentile has acquired 18,103,333 Units such that, upon closing of the Offering, Mr. Gentile owns approximately 19.9% of the issued and outstanding common shares of the Company on a partially diluted basis assuming full exercise of his warrants.

Big Ridge CEO, Mike Bandrowski, commented: "Michael Gentile's support comes at a pivotal time for the Company as we build out the Big Ridge team in anticipation of our first drill program in 3 years and continue advancing environmental and engineering studies at Hope Brook. This Offering puts us in an excellent financial position to complete the Preliminary Economic Assessment, exploration and geotechnical drilling and finalize several ongoing environmental studies."

The Offering was made by way of private placement in Canada and the securities issued under the Offering are subject to a four month hold period under applicable securities laws in Canada.