Eric Sprott Announces Additional Investment in Inventus Mining Corp.

TORONTO, ONTARIO--(Marketwired - May 12, 2016) - Eric Sprott announces that on May 12, 2016, he exercised, in full, his right to convert his previously acquired secured convertible subordinated debentures of Inventus Mining Corp. (36 Toronto Street, Suite 1000, Toronto, Ontario M5C 2C5). The debentures became convertible into common shares of the Corporation as a result of the Corporation's consolidation, on May 12 2016 of its common shares on the basis of one post-consolidated share for every two pre-consolidation shares. Mr. Sprott converted his $500,000 principal amount of debentures at a price of $0.05 per share.

On April 11, 2016, Mr. Sprott had acquired ownership and control of five debentures of the Corporation for an aggregate principal amount of $500,000 at a price of $100,000 per debenture, on a private placement basis. The debentures were convertible, at the option of Mr. Sprott, at any time following the consolidation of the shares at a conversion price of $0.05 per share until the date that is 12 months prior the maturity date, and at a conversion price of $0.10 per share thereafter.

Prior to the date hereof (and prior to the consolidation and conversion), Mr. Sprott beneficially owned, and exercised control or direction over: (i) 7,322,666 common shares; (ii) 3,333,333 common share purchase warrants and (iii) $500,000 principal amount of debentures, representing 8.6% of the then issued and outstanding common shares on a non-diluted basis and 12% on a partially diluted basis (assuming exercise of the warrants and not the debentures).

After giving effect to the consolidation and conversion (including the issuance of 16,000,000 common shares issuable to other purchasers upon the conversion of the principal amount of $800,000 debentures and the issuance of 5,000,000 common shares issuable to Wayne Whymark upon the deemed exercise of special warrants on May 12, 2016), Mr. Sprott acquires 10,000,000 common shares, representing approximately 13.6% of the issued and outstanding common shares of the Corporation; thereby beneficially owning, and exercising control or direction over: (i) 13,661,333 common shares; and (ii) 1,666,666 common share purchase warrants, representing 18.6% of the issued and outstanding common shares (including shares issued upon the conversion) on a non-diluted basis, and approximately 20.4% of the issued and outstanding common shares on a partially diluted basis (assuming exercise of the warrants).

The debentures were acquired for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional shares either on the open market or through private acquisitions or sell the shares either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Corporation is a reporting issuer containing information with respect to the foregoing matters. A copy of the Early Warning Report will appear with the Corporation's documents on the System for Electronic Document Analysis and Retrieval and may also be obtained by contacting Mr. Sprott at (416) 362-7172.