Reservoir Minerals Inc.
TSX VENTURE : RMC
PINKSHEETS : RVRLF
BERLIN : 9RE

Reservoir Minerals Inc.

March 20, 2014 08:44 ET

Reservoir Minerals Closes Previously Announced Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 20, 2014) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

Reservoir Minerals Inc. ("Reservoir" or the "Company") (TSX VENTURE:RMC)(PINKSHEETS:RVRLF)(BERLIN:9RE) is pleased to announce that further to its news release dated February 20, 2014, it has closed its bought deal brokered private placement (the "Brokered Offering") for aggregate gross proceeds of C$10,005,000.

The Brokered Offering was led by Scotia Capital Inc. on behalf of a syndicate of underwriters including Macquarie Capital Markets Canada Ltd., GMP Securities L.P., BMO Capital Markets and Salman Partners Inc. (collectively, the "Underwriters"). Pursuant to the Brokered Offering the Company issued 1,740,000 common shares at a price of C$5.75 per share. The Company paid the Underwriters a commission in the aggregate amount of C$600,300 representing 6% of the gross proceeds of the Brokered Offering.

The proceeds raised under the Brokered Offering will be used for exploration of the 100% owned Timok Licences and for general working capital purposes.

Securities issued under the Brokered Offering will be subject to a four month hold period which will expire four months from the date of closing of the Brokered Offering.

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 "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About the Company:

Reservoir Minerals Inc. is an international mineral exploration and development company run by an experienced technical and management team, with a portfolio of precious and base metal exploration properties in Europe and Africa. The Company operates an exploration partnership business model to leverage its expertise through to discovery.

For further information on Reservoir Minerals Inc., please consult our website www.reservoirminerals.com.

This news release includes certain "forward-looking statements" within the meaning of Canadian securities legislation. All statements, other than statements of historical fact, included herein, including, without limitation, the use of net proceeds, are forward-looking statements. Forward-looking statements involve various risks and uncertainties and are based on certain factors and assumptions. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include uncertainties relating to the use of proceeds and other risks and uncertainties disclosed under various publicly-available documents filed with the Canadian securities regulatory authorities on the SEDAR website at www.sedar.com.

Neither 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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