BC Moly Ltd.

September 28, 2015 12:29 ET

BC Moly Ltd. Announces Private Placement

BURNABY, BRITISH COLUMBIA--(Marketwired - Sept. 28, 2015) - BC Moly Ltd. (the "Company" or "BC Moly") (TSX VENTURE:BM) is pleased to announce a private placement financing (the "Private Placement") of 1,555,556 common shares (the "Common Shares) at a price of $0.09 per Common Shares for an aggregate subscription price of $140,000.04. All of the Private Placement will be purchased by Prairie Enterprises (Alberta) Inc. ("Prairie"), a company that is owned and controlled by Mr. Edward Yurkowski, a director and chief executive officer of the Company. Proceeds from the Private Placement will be used for general corporate purposes, including to fund corporate overhead. No finders' fees are payable and all the Common Shares will be subject to a 4 month hold period.

The Private Placement is subject to the approval of the TSX Venture Exchange ("TSX-V").

Related Party Transactions

As Mr. Yurkowski is an "insider" of the Company and the owner of Prairie, the Private Placement is a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). However, the Private Placement is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the board of directors has determined, in good faith, that neither the fair market value of Common Shares to be issued to, nor the fair market value of the consideration to be paid by, the Purchaser in connection with the Private Placement will exceed 25 percent of the market capitalization of the Company.

The Private Placement is currently expected to close within the next few weeks. A material change report in respect of the Private Placement will be filed on closing of the Private Placement. As a result, the Company will not be able to file the material change report 21 days prior to the closing of the Private Placement.

About BC Moly Ltd.:

BC Moly Ltd. is a Canadian mineral exploration company focused on the development of its Storie Property molybdenum deposit. The Storie Property is situated about 6 km southwest of Cassiar, British Columbia. Cassiar is located 15 km (by paved road) west of Highway 37 which provides access to Watson Lake, Yukon, to the north and Dease Lake and Stewart, British Columbia, to the south.

On behalf of BC Moly Ltd.

Jimmy Mah, Chief Financial Officer

The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this release. This news release includes certain statements that may be deemed "forward-looking statements". All statements, other than statements of historical facts, that address such matters as future exploration, drilling, exploration activities, potential mineralization and resources and events or developments that the Company expects, are forward looking statements and, as such, are subject to risks, uncertainties and other factors of which are beyond the reasonable control of the Company. Although the Company 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 forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include such matters as market prices, exploitation and exploration results, continued availability of capital and financing, and general economic, market or business conditions. Any forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date.

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