A.B. Aterra Resources Acquires Common Shares of GB Minerals Ltd.

TORONTO, ONTARIO--(Marketwired - Oct. 21, 2015) - A.B. Aterra Resources Ltd. ("Aterra Resources") announces that in connection with a private placement (the "Offering") of 79,442,000 common shares of GB Minerals Ltd. ("GB Minerals"), it has entered into a subscription agreement to, subject to certain closing conditions, subscribe for 26,788,000 common shares (the "Subscribed Shares") at a price of C$0.05 per share. The Subscribed Shares will represent approximately 8.1% of the outstanding common shares immediately upon the closing of the Offering. Aterra Resources is wholly-owned and controlled indirectly by Mr. Alexey Mordashov.

Aterra Resources is also currently the holder of a convertible promissory note of GB Minerals (the "Promissory Note") in the principal amount of C$1,000,000 bearing interest at a rate of 4% per annum and due upon demand, provided that no such demand may be made until the earlier of January 31, 2017 and the occurrence of an event of default. The Promissory Note, together with any accrued and unpaid interest thereon, is convertible at any time at the option of Aterra Resources or GB Minerals into common shares. Upon conversion of the principal amount of the Promissory Note (but none of the interest thereon), Aterra Resources would be entitled to be issued 13,333,333 common shares, representing approximately 3.9% of the then outstanding common shares assuming no additional issuances of common shares prior to such conversion other than pursuant to the Offering.

At such time, Aterra Resources would beneficially own an aggregate of 40,121,333 common shares, representing approximately 11.6% of the then outstanding common shares.

Aterra Resources is acquiring the Subscribed Shares for investment purposes and continues to monitor the business, prospects, financial condition and potential capital requirements of GB Minerals. Depending on its evaluation of these and other factors, Aterra Resources may from time to time in the future increase or decrease its ownership, control or direction over the common shares or other securities of GB Minerals through market transactions, private agreements, subscriptions from treasury or otherwise.

For further information, including a copy of the corresponding report filed with Canadian securities regulators, contact the undersigned.