Gespeg Cancels Private Placement and Announces Resignation of VP Exploration

SASKATOON, SASKATCHEWAN--(Marketwired - Sept. 27, 2016) -

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GESPEG COPPER RESOURCES INC. (TSX VENTURE:GCR) (the "Company" or "Gespeg") announces that it is cancelling the non-brokered private placement of up to 20,000,000 units (the "Units") at a price of $0.05 per Unit for gross proceeds of up to $1,000,000 (the "Offering") announced on July 25, 2016.

Gespeg also announces the resignation of Mr. Bernard-Olivier Martel, Vice-President Exploration. Mr. Martel joined Gespeg in 2012 and the board of directors wishes to thank Mr. Martel for his contributions to the Company. Mr. Martel has a significant amount of experience in the Gaspé region and will remain as a consultant for Gespeg along with the Company's qualified person (as such term is defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects).

About Gespeg Copper Resources Inc.: Gespeg is an exploration company with a focus on copper, especially in a grossly underexplored region "Gaspé, Québec". With a dedicated management team, the Company's goal is to create shareholder wealth through the discovery of new deposits.

GESPEG COPPER RESOURCES INC.

(signed) "Sylvain Laberge"

FORWARD LOOKING INFORMATION

Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

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