PowerOne Capital Corp. Acquires Securities of Rhyolite Resources Ltd.

TORONTO, ONTARIO--(Marketwired - March 28, 2017) - PowerOne Capital Corp. (the "Acquiror") announces that on March 28, 2017 it acquired ownership and control of 4,400,000 units (the "Units") of Rhyolite Resources Ltd. (the "Issuer") at a price of $0.10 per Units as part of a private placement of Common Shares by the Issuer (the "Transaction"). Each Unit is comprised of one common share (the "Common Shares") and one half warrant (the "Warrants") of the Issuer. Each whole Warrant entitles the holder thereof to acquire one additional common share of the Issuer at $0.15 for a period of two years following the Closing Date.

The Common Shares acquired represent approximately 10.12% of the outstanding common shares of the Issuer post-Transaction (or approximately 14.44% on a partially diluted basis, ie. assuming the exercise of all Warrants owned by the Acquiror). The Acquiror did not own any securities prior to the Transaction. The Acquiror paid total consideration of $440,000 in connection with the Transaction.

The Transaction was a private placement transaction, and did not occur through the facilities of any stock exchange. The Acquiror acquired the Common Shares for investment purposes, and the Acquiror may, depending on market and other conditions, increase or decrease beneficial ownership, control or direction over these securities or other securities of the Issuer, whether through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise. The Acquiror does not have any plans or future intentions in respect of the matters set forth on the list in Item 5 of Form 62-103F1.

The Acquiror's address is 130 King Street West, Suite 2210, Toronto, Ontario, M5X 1E4. The address of the Issuer's head office is Suite 1703, Three Bentall Centre 595 Burrard Street, P.O. Box 49131 Vancouver, British Columbia V7X 1J1.

To obtain a copy of the report filed pursuant to applicable securities regulations in connection with the foregoing, please contact:

Shaun Drake
DSA Corporate Services Inc.
Tel: 416-848-0107
Fax: 416-848-0790
sdrake@dsacorp.ca
82 Richmond Street East
Toronto, Ontario M5C 1P1