Greenock Resources Inc.

Greenock Resources Inc.

June 29, 2011 15:24 ET

Greenock Resources: Annual Meeting and Debt Conversion

TORONTO, ONTARIO--(Marketwire - June 29, 2011) -Greenock Resources Inc. (TSX VENTURE:GKR) ("Greenock") announces the corporation is completing a shares for debt conversion of 1,663,410 shares for $166,341. The purpose of these transactions is to strengthen Greenock's balance sheet and provide capital to advance corporate mineral development projects.

The shares for debt conversion is priced at $0.10 cents per share. The debt is primarily unpaid management fees, salaries and professional services to May 31, 2011 that have accrued but are unpaid. All debt owed to current management of Greenock in the amount of $156,500 is subject to disinterested shareholder approval at Greenock's upcoming shareholder meeting.

Greenock is holding an Annual and Special meeting on July 28, 2011, 10:30 am at 80 Richmond Street West, Suite 1101, Toronto ON. Existing shareholders and potential investors are welcome to attend a presentation on the future of Greenock Resources Inc. All information related to the Annual Meeting has been filed on SEDAR for reference.

Greenock has filed its Interim Financials and Management Discussion and Analysis to March 31, 2011 on SEDAR.

This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". Michael Newbury, P.Eng., is the qualified person who has reviewed this material on behalf of the Company. All dollar amounts are noted in Canadian dollars unless otherwise stated in this 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 release.

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