News Release

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 12, 2017) - Ross J. Beaty, of 1550 - 625 Howe Street, Vancouver, British Columbia, V6C 2T6, announced that on April 12, 2017 he disposed of ownership of 1,000,000 common shares (the "Common Shares") in the capital of Arena Minerals Inc. ("Arena") at a price of CDN$0.24073 per Common Share and aggregate proceeds of CDN$240,730 (the "Disposition"). Arena is a company with an office at 805-65 Queen Street West, Toronto, Ontario, Canada M5H 2M5.

Prior to the Disposition, Mr. Beaty owned, directly or indirectly, or exercised control or direction over 9,500,000 Common Shares. The 9,500,000 Common Shares represented approximately 11.2% of the total number of issued and outstanding Common Shares of Arena as of March 30, 2017 (the date of the last early warning report filed by Mr. Beaty in respect of Arena).

After completion of the Disposition, Mr. Beaty now owns, directly or indirectly, or exercises control or direction over, 8,500,000 Common Shares. The 8,500,000 Common Shares represent approximately 9.8% of the total number of issued and outstanding Common Shares of Arena resulting in a decrease by 1.4% to Mr. Beaty's holdings from his last early warning report after the completion of the Disposition.

Mr. Beaty's disposition was made for investment purposes. Mr. Beaty may, in the future, acquire or dispose of ownership and control over additional securities of Arena for investment purposes. The Disposition took place on the following markets: the TSX Venture Exchange, Pure Trading, Omega, Chi-X1 Chi-X2, Lynx, and the NEO Exchange.

For more information, or to obtain a copy of the subject early warning report, please contact Ross J. Beaty.