Loan Transaction

(via Thenewswire.ca)

Vancouver, BC / TNW-ACCESSWIRE / October 3rd, 2014 / True Grit Resources Ltd. (NEX-TGI.H) ("True Grit" or "the Company") reports that the Board of Directors has authorized management to proceed with loan arrangements for a term of one year whereby the Company will borrow up to $150,000. Under the terms of the loan agreements, lenders will be paid 10% interest and will receive a 20% bonus, payable in shares of the Company at a deemed price of $0.05 per share. The proceeds will be used to continue exploration work on the Company's Nevada properties and for general working capital. This transaction is subject to the approval of the TSX Venture Exchange.

ABOUT TRUE GRIT NEVADA ASSETS

True Grit's Nevada projects include both sediment and volcanic-hosted gold systems on important mineralized trends, including the Carlin and Cortez trends. High-priority projects include Cooks Creek, a sediment-hosted system eight miles west of the world-class Pipeline deposits being mined by Barrick Gold. An 8 hole drill program is planned for 2014 that will follow up on historic drilling that intersected 21.3m (70 feet) grading 2.317 g/t gold (0.068 opt) from 18.3 to 39.6m as well as on the recently-discovered, undrilled Dinner Zone which has yielded surface rock-chip values to 2.45 ppm Au.

Other projects include Seven Devils, a volcanic-hosted epithermal gold system along the "Western Nevada Rift" trend that includes the Goldbanks (Kinross Gold), Sandman (Newmont Mining) and Sleeper (Paramount Gold and Silver) deposits. The gold system at Seven Devils is at least 6,000 feet long and contains surface gold values to 3.47 ppm. The Oasis project near the Goldfield district in western Nevada contains a porphyry gold system with extensive low-grade gold mineralization open at depth and along strike (e.g., 96.1m grading 0.26 ppm Au and 30.5m grading 0.4 ppm Au) and increasing copper at depth with the gold. The Gold Cloud project along the southeastern portion of the Cortez trend contains a 2-km-long zone of carbonate veins and silicification (jasperoid) with gold to 2.8 ppm. The mineralization occurs at a range front and appears to represent the upper-most or lateral edges of a larger gold system yet to be explored at depth or under the pediment alluvial cover in the adjacent valley that is known from geophysics to be shallow.

Dr. Jake Margolis is working with True Grit on the existing Nevada projects, as well as on the generation of new projects. Dr. Margolis previously worked for AngloGold-Ashanti and was instrumental in developing and advancing the Nevada projects which True Grit has under option agreement. Dr. Jake Margolis, a qualified person as defined by National Instrument 43-101, has reviewed this news release.

On behalf of the Board of Directors,

TRUE GRIT RESOURCES LTD.

Doug Fulcher

Doug Fulcher

President and CEO

This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com

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