Golden Sun and Voyageur Provide Update on Qualifying Transaction

CALGARY, ALBERTA--(Marketwired - Feb. 29, 2016) - Golden Sun Capital Inc. (NEX:GST.H) ("Golden Sun" or the "Company"), is pleased to provide this update regarding its proposed qualifying transaction as detailed in its April 21, October 14 and December 21, 2015 press releases (the "Proposed Transaction"). The Company advises that there has been no material change to the information contained in its prior press releases and the Company and Voyageur Industrial Minerals Ltd. ("Voyageur") continue to work towards completing a pre-transaction financing which will provide the resulting issuer with adequate liquidity to initiate its business plan upon completion of the Proposed Transaction. Golden Sun will provide further updates with respect to the Proposed Transaction as more information becomes available, expected to be provided by no later than April 30, 2016. The Company and Voyageur are committed to pursuing completion of the Proposed Transaction as soon as practicable.

Trading Halt

Trading in the Golden Sun Shares has been halted and may remain halted pending the review of the Proposed Transaction by the TSX Venture Exchange (the "Exchange"). There can be no assurance that trading in the Golden Sun Shares will resume prior to the completion of the Proposed Transaction.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The Exchange has in no way passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this news release.

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 news release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements relating to the Proposed Transaction, including statements regarding completion of the pre-transaction financing, satisfaction of all other closing conditions in connection with the Proposed Transaction and closing of the Proposed Transaction. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things: the risk that the Proposed Transaction will not be completed or that the necessary approvals and/or exemptions are not obtained or some other condition to the closing of the Proposed Transaction is not satisfied; the risk that closing of the Proposed Transaction could be delayed if Golden Sun and Voyageur are not able to obtain the necessary approvals on the timelines planned; the risk that the pre-transaction financing will not be completed, the assumptions relating to the Proposed Transaction, its structure, and the timing thereof, the timing of obtaining required approvals and satisfying closing conditions for the Proposed Transaction, state of the economy in general and capital markets in particular, investor interest in the business and future prospects of Golden Sun and Voyageur.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, Golden Sun and Voyageur disclaim any intention and assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, Golden Sun and Voyageur undertake no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.