Kombat Copper Closes Financing

TORONTO, ONTARIO--(Marketwired - Feb. 17, 2015) -

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Kombat Copper Inc. (TSX VENTURE:KBT) ("Kombat" or the "Company") has completed its private placement financing (the "Offering") of 27,210,000 units (the "Units") at a purchase price of $0.05 per Unit for gross proceeds of $1,360,500.

Each Unit is comprised of one common share (a "Share") and one warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one additional Share (a "Warrant Share") at a price of $0.10 per Warrant Share for a period of two years from the date of closing of the Offering. The Warrants if at any time after four months and one day from the closing date, the Shares trade at $0.15 per share or higher on the Exchange (on a volume weighted adjusted basis) for a period of 30 consecutive days, the Company will have the right to accelerate the expiry date of the Warrants to the date that is 30 days after the Company issues a news release announcing that it has elected to exercise this acceleration right.

The proceeds from the Offering will be used to fund further exploration efforts at the Company's Kombat Mine to increase the Mineral Resource Estimate to support a positive PEA, as well as for general working capital purposes. All securities issued will be subject to a hold period of four months and one day. The Company has not agreed to pay finders' fees on this Offering.

In addition, the Company announces the departure of Mr. Allan Polk as Chief Operating Officer of the Company. The Company wishes him well in future endeavours.

The Company has initiated an aggressive cost savings strategy to optimize funds spent on site exploration. Accordingly, to conserve cash, the Company has entered into agreements to satisfy outstanding debt of $160,000 by the issuance of 3,200,000 common shares at a deemed price of $0.05 per share. The debt consists of $100,000 in outstanding fees to Mr. Polk under his consulting agreement and the balance is for capital markets services to a third party. The issuance of the shares is subject to the approval of the TSX Venture Exchange. In accordance with applicable securities legislation and the policies of the TSX Venture Exchange, the shares will be subject to a hold period of four months plus one day from the date of completion of the debt settlement.

About Kombat Copper Inc.

Kombat Copper (TSX VENTURE:KBT) is a publicly traded Canadian exploration and development company with its core operations focused on copper resources in Namibia, one of the world's most prospective copper regions, where it has substantial assets in place with significant exploration upside.

The Company holds an 80% interest in five Mining Licenses in the Otavi Mountainlands, an area of Namibia particularly known for its high-grade copper deposits. Within these licenses are three past-producing mines including the Company's flagship property: the past-producing Kombat Mine. The Kombat Mine's extensive infrastructure includes an 800m production shaft which was opened in 2006, three recently-operational shafts, ramp systems, extensive underground workings, mine buildings, a tailings facility, a mill and concentrator all supported by the Company's local town site. The Kombat mine originally opened in 1962 and is linked to vital existing infrastructure, including power, water, roads, and rail with close proximity to the port of Walvis Bay and to one of only five commercial-grade smelters in Africa located in Tsumeb, located 100 road kilometers away from Kombat.

In addition to mining licenses, the Company holds an 80% interest in five Exclusive Prospecting Licenses ("EPL's") covering an area of more than 1,550 km². The EPL's are located within the copper-rich Otavi Mountainlands and are in close proximity to Tsumeb.

Qualified Person

F. W. Nielsen P.Geo, is a "qualified person" as such term is defined in National Instrument 43-101 and has reviewed and approved the technical information and data included in this press release.

Cautionary Notes

Neither 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.

This news release may contain forward-looking statements. These statements include statements regarding the proposed use of proceeds and the Company's expectations regarding the completion of the financing and use of proceeds. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.