Odin Announces Closing of Private Placement

Vancouver, British Columbia: Odin Mining and Exploration Ltd. (the "Company") is pleased to announce that it has closed its non-brokered private placement of 13,636,364 common shares for gross proceeds of CDN$3,000,000 as previously announced in its news release dated August 7, 2015. The proceeds will be used for the payment of its obligations for its mineral concessions and for general working capital purposes. The Company paid cash finder's fees in the aggregate of CDN$18,240 in connection with the private placement.

Certain directors and insiders of the Company participated in the Private Placement by acquiring an aggregate of 4,234,780 common shares. The shares represent approximately 3.18% of the Company's currently issued and outstanding shares.

Odin Mining & Exploration Ltd

Signed: "Marshall Koval"

Marshall Koval, President & CEO

For further information contact:
Lyle Braaten, VP Legal Counsel
T: +1 604 646 1889

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 release.