First Mountain Exploration Ltd. Announces Consolidation of Common Shares and Name Change

CALGARY, ALBERTA--(Marketwired - Aug. 28, 2014) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

First Mountain Exploration Ltd. ("First Mountain" or the "Company") (TSX VENTURE:FMX) announces that following the annual general and special meeting of shareholders of the Company held on May 15, 2014 (the "Meeting"), the board of directors of the Company has decided to proceed with the share consolidation and name change approved by the shareholders at the Meeting.

The consolidation of common shares of the Corporation ("the "Common Shares") will be done on the basis of two and a half (2.5) existing shares for one (1) new Common Share (the "Consolidation"). At this time, the Company has 41,851,534 Common Shares issued and outstanding. Upon completion of the Consolidation, the Company will have 16,740,613 Common Shares issued and outstanding.

The Board of Directors considers this Consolidation as an essential step in order to continue raising capital and should provide greater flexibility to fund potential upcoming projects.

The Corporation has also taken steps to change its name from "First Mountain Exploration Ltd." to "First Mountain Exploration Inc." (the "Name Change").

The TSX Venture Exchange ("TSXV") has provided its final acceptance to the Consolidation and Name Change and effective as of the opening of trading on the TSXV on Tuesday, September 2, 2014, the Company will trade under the new name "First Mountain Exploration Inc." on a post-consolidated basis. Letters of Transmittal with respect to the Consolidation and Name Change will be mailed to all registered shareholders of the Company. All registered shareholders will be required to send their respective certificates representing the pre-consolidated Common Shares along with a properly executed letter of transmittal to the Company's transfer agent, Olympia Trust Company ("Olympia"), in accordance with the instructions provided in the letter of transmittal.

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.