Reservoir Capital Corp.
TSX VENTURE : REO
FRANKFURT : ROC
BERLIN : ROC

Reservoir Capital Corp.

January 17, 2011 16:53 ET

Reservoir Capital Corp.: Progress Report on the Deli Jovan Gold Project in Serbia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 17, 2011) - Reservoir Capital Corp. ("Reservoir" or the "Company") (TSX VENTURE:REO)(FRANKFURT:ROC)(BERLIN:ROC) is pleased to report results of a high-level review prepared on behalf of the joint venture company Deli Jovan Exploration D.o.o. ("DE") by SRK Consulting (UK). The review focussed on the planned re-opening of the historic gold mines at Rusman and Gindusa, including health and safety aspects, mine development options, ore processing routes and preliminary economic considerations. SRK has reported positively on the project as follows: "SRK considers it likely that a small scale mining operation can be established and sustained at Deli Jovan using handheld pneumatic drilling equipment. The current constraints on operations are the unknown processing recovery and the limited information on the continuation of the ore zone outside the known working areas. The target of 30,000 ounces per annum as set by DE Management could be achieved, on the condition that the historically reported widths and grades can be substantiated by the DE exploration programme."

DE plans to re-open access to the underground workings of the two historic gold mines at Deli Jovan which extend to a known depth of 100m. If the staged exploration programme is successful, the objective is to commence a mining operation that could produce around 30-40,000 ounces of gold per year at full production.

A plan for the re-opening of access to the historic mines was prepared and submitted to the Serbian Ministry of Mining and Energy at the end of December 2010. Once the required approvals have been received, DE proposes to appoint a local contractor to commence the rehabilitation of the old mine workings, which will facilitate detailed mapping and sampling of the workings. The planned DE underground and surface exploration program is aimed at demonstrating the continuity and grade of the Deli Jovan ore zone and obtaining samples for ore processing recovery test work, which will feed into planning for the re-development of this historic gold mining district.

Work on the project by DE is funded by Orogen Gold Ltd. ("Orogen"), which can earn up to a 75% interest in the Company's Deli Jovan Gold Project by completing $3.5 million in exploration expenditures within 42 months.

Quality Control:

Dr. Duncan Large, Chartered Engineer (UK) and Eur. Geol., a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, is responsible for the preparation of the technical information in this release.

About Reservoir

Reservoir is a renewable energy company, engaged in development of a 58.4MW hydroelectric project at Brodarevo in southwest Serbia. Reservoir holds four geothermal exploration licenses in Serbia and has applied for three more hydroelectric licenses on the Cehotina River in Bosnia (17.75MW) and one to develop a 32 MW project from an existing dam at Vrutci in Serbia. The Company holds a portfolio of 8 precious and base metal exploration properties in Serbia, with Freeport McMoRan Exploration Corp farming into two of them, in addition to the JV with Orogen. Reservoir's common shares trade on the TSX Venture Exchange (symbol "REO") and on the Frankfurt and Berlin Exchanges (symbol "ROC").

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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