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

Reservoir Minerals Inc.

October 26, 2015 16:15 ET

Reservoir Minerals Provides an Update on Exploration Activities in Serbia, Romania and Macedonia

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 26, 2015) - Reservoir Minerals Inc. ("Reservoir" or the "Company") (TSX VENTURE:RMC)(OTC PINK:RVRLF)(BERLIN:9RE) is pleased to provide an update on exploration activities in Serbia, Romania and Macedonia.

Dr. Simon Ingram, President and CEO of Reservoir Minerals Inc. commented: "In addition to the Company's participation in the Cukaru Peki copper-gold discovery through the Rakita joint venture with Freeport-McMoran Exploration Corporation, the Company operates exploration projects in the highly prospective copper-gold and lead-zinc-silver-gold metallogenic terrains of southeast Europe, and the highlights include:

  • The initial drilling results from the Serbian Timok 100% owned exploration permits successfully demonstrate the potential for further discovery of significant copper-gold mineralization, as well as the efficacy of our exploration methodologies. The field and drilling programs are ongoing, and we look forward to focussing on new mineralized systems recognized in both the eastern and western sectors of the Timok Magmatic Complex.
  • Elsewhere in Serbia, the Company is encouraged by the progress on its sediment-hosted copper project, where the exploration concept is now proven and initial results are very promising. The Company has also assembled an impressive portfolio of lead-zinc-silver properties in central and western Serbia, where further work will be directed towards acquiring the necessary information required for initial resource estimates.
  • Porphyry copper-gold style mineralization has been identified by drilling on the Company's projects in the Banat region SW Romania where the target geology is an extension from the Timok Magmatic Complex in Serbia. Drilling results confirm the presence of copper-gold mineralization associated with quartz vein stockworks and potassic-altered granodiorite intrusions and hornfelsed schists. Follow-up field work has commenced on new targets in both the Gura Salistei and Purcaru prospects.
  • In Macedonia the results of the ground geophysics at the Company's Konjsko project are very encouraging and add to the interest of this recent gold discovery. The Company has commenced field exploration for porphyry copper-gold mineralization in the Dvorishte project. The Company has also been granted two exclusive prospecting concessions (total 4,737.7 square kilometres) in south and southeast Macedonia."

TIMOK 100%-OWNED EXPLORATION PERMITS, SERBIA

The Company has four wholly-owned exploration permits covering a combined area of 265.6 square kilometres in the Timok Magmatic Complex ("TMC"): Nikolicevo and Kraljevica in the eastern sector, and Coka Kupjatra and Tilva Njagra in the western sector. The Company is continuing a phased exploration program, including drilling, on these permits (Company News Releases, June 9, 2014; August 6, 2014; and September 30, 2014).

Nikolicevo and Kraljevica Exploration Permits, Exploration Program

The Nikolicevo and Kraljevica Permits are prospective for both Cukaru Peki and Bor district styles of porphyry and high sulphidation epithermal massive sulphide mineralization. In spite of their proximity to the latter district, there has been relatively little historical exploration and no previous drilling for metalliferous minerals in the permit areas. The geology in the Nikolicevo permit contains the same late Cretaceous andesite volcanic sequence that hosts the Cukaru Peki copper-gold mineralization, while in the Kraljevica permit (located 2 kilometres south of the Nikolicevo permit) the geology is dominated by Miocene clastic and Recent alluvium sequences overlying late Cretaceous volcanics, and outcrops of basement Jurassic and Cretaceous sedimentary rocks and locally Palaeozoic granitoid rocks in the south of the permit. The Company has initiated a phased systematic exploration and drilling program to test priority targets at both shallow and deeper structural levels within the host volcanic sequence, as well as beneath the younger Miocene Cover.

The Nikolicevo 2014 field exploration program included detailed geological mapping, geochemical stream sediment, soil, and rock sampling (including systematic sampling of pits and trenches), ground geophysical surveys (magnetometry and induced polarization (IP)), and a total of 3,600.3 metres of diamond drilling in seven drill holes (RTN 1401, 1402, 1404, 1405, 1406, 1408 and 1411; Table 1). This first phase of drilling was designed to validate the stratigraphy, test shallower targets (approximately 500 metres deep) in the favourable Upper Cretaceous volcanics near the western boundary of the permit, and confirm the appropriate geophysical techniques for identification of alteration and mineralization.

Exploration initially focused on the Misljenovac and Rudine areas in the south of the permit where massive pyrite-chalcopyrite mineralization, hydrothermally altered andesites and narrow mineralized structural zones were identified in float and outcrops.

Table 1: Drill holes in the Nikolicevo Exploration Permit.
Drill
Hole ID
Target Area Azimuth
(º)
Declination
(º)
Depth
(m)
RTN 1401 Misljenovac 250 -75 266.6
RTN 1402 Rudine 250 -70 555.4
RTN 1404 Coka Popi 250 -75 669.4
RTN 1405 Rudine 070 -85 607.5
RTN 1406 Misljenovac 240 -65 740.1
RTN 1408 Celine 250 -70 516
RTN 1411 Rudine 260 50 245.3
Maps with the location of drill holes are provided on the Company website (http://www.reservoirminerals.com/).

Drilling intersected a mixed sequence of andesite volcanics, volcano-sedimentary units (epiclastic, siltstone and volcaniclastics), intrusive andesite units, and tectonic and hydrothermal breccia zones. Drill holes RTN 1402 and 1405 (Rudine area) intersected epiclastics that include units (up to 40 metres thick) containing angular fragments of altered volcanics and pyrite±chalcopyrite mineralization. Core from drill holes RTN 1402 and RTN1405 (Rudine) and RTN 1406 (Misljenovac) displayed the most extensive and strongest alteration assemblages (clay-sericite-chlorite-pyrite to quartz-clay), with the most intense zones being associated with the tectonized or hydrothermal breccia zones. The Company believes that the alteration assemblages and hydrothermal breccia zones (RTN 1406), the copper mineralization in float and outcrop, and the epiclastic beds containing clasts of copper sulphide mineralization and altered volcanics in both outcrop and drill holes (RTN 1402, 1405), are together indicative of proximity to an as yet undiscovered high-sulphidation epithermal system in the Rudine-Misljenovac area.

Although the analytical results yielded low copper and gold contents from the sampled core, with no reportable intercepts, the Company is encouraged by the information derived from this very first drilling campaign in the permit. The drilling validates the Company's stratigraphic model and structural interpretation, recognizes the presence of altered and sulphide-bearing fragments in the volcanic, epiclastic and volcaniclastic units, and confirms the presence of clay-sericite-chlorite-pyrite alteration, disseminated sulphide mineralization, and major structural features that were interpreted from the geophysical data, and thereby endorses the geophysical methodology.

The 2015 Nikolicevo and Kraljevica field exploration programs are ongoing and include follow-up geological mapping, infill geochemical soil and rock chip sampling, and geophysical (controlled and natural -source audio-frequency magnetotellurics - CSAMT/NS - and Induced polarization - IP) surveys over priority target areas. A second phase of drilling in Nikolicevo will commence in 2016, and will test priority targets in both the eastern sector where the Miocene sediments conceal the Upper Cretaceous sequence, and western area where new targets have been defined by the follow-up fieldwork. At Kraljevica, field exploration programs focused in the north of the permit where the southeast extension of the Timok complex is thought to underlie the younger cover sequence. A 2,500 metre diamond drill program to test coincident geochemical and geophysical targets commenced September 22, 2015.

Coka Kupjatra and Tilva Njagra Exploration Permits, Exploration Program

The Coka Kupjatra and Tilva Njagra Exploration Permits are located in the western sector of the TMC. Based on the known occurrences and fieldwork, the Company believes that these permits are prospective for epithermal (high- and low-sulphidation) gold, and porphyry and skarn copper-gold mineralization. During 2012 to 2013, Freeport undertook ground geophysics and drilled eight holes (total 8,750.0 metres) that targeted porphyry-type copper-gold mineralization (Company News Release, June 9, 2014). During 2014, the Company carried out geological mapping, geochemical sampling (rock chip and stream sediment), ground geophysical surveys (magnetometry, IP), and a four-hole diamond-drilling program for a total of 2,422.5 metres (Table 2).

Table 2: Company drill holes in the Coka Kupjatra and Tilva Njagra Exploration Permits.
Drill
Hole ID
Permit Prospect Target Azimuth
(º)
Declination
(º)
Depth
(m)
RTT 1403 Tilva Njagra Kumustaka Porphyry, skarn 270 -65 576
RTT 1410 Tilva Njagra Zlace Porphyry 270 -85 609
RTC 1407 Coka Kupjatra Lipa Epithermal, porphyry 270 -60 497.5
RTC 1409 Coka Kupjatra Lipa Epithermal, porphyry 0 -90 740
Maps with the location of drill holes are provided on the Company website (http://www.reservoirminerals.com/).

Initial fieldwork focused on the Lipa, Coka Kupjatra and Crni Vrh (Red River) prospects in the Coka Kupjatra permit and the Kumustaka, Zlace and Beljevina prospects in the Tilva Njagra Permit. Mapping and sampling confirmed the presence of copper and gold mineralization within intense advanced argillic altered volcanics and hydrothermal breccias in the Lipa (pyrite-enargite bearing silicified volcanics), Coka Kupjatra, Kumustaka and Beljevina prospects, and quartz veins (< 0.5 metre thick) from the Zlace low-sulphidation epithermal system (Table 3). Mapping in the Red River prospect identified outcrops of diorite intrusive with propylitic, phyllic/argillic and locally biotite alteration zones, and quartz veining.

Table 3: Analytical results of selected rock chip samples, Coka Kupjatra and Tilva Njagra permits.
Sample ID Permit / Prospect Sample Type Lithology and Mineralization Au
g/t
Ag
g/t
Cu
%
TC - 201015 Coka Kupjatra / Lipa Dump, grab altered volcanic with disseminated / vein sulphide 0.45 3.20 0.45
TC - 201025 Dump, grab altered volcanic with disseminated / vein sulphide 0.81 4.10 0.82
TC - 201022 Coka Kupjatra / Kulmea near collar FMWC 1201 Dump, grab altered volcanic with disseminated sulphide 0.61 1.4 0.20
TC - 201101 Float, grab altered brecciated volcanic 0.71 20.90 0.02
TT - 201113 Tilva Njagra / Zlace Float, select altered volcanic with quartz veins 4.28 162.00 0.49
TT - 201116 altered volcanic with quartz veins 20.80 6.80 0.01
TT - 201126 Dump, grab altered volcanic with quartz veins 20.00 52.20 0.03
TT - 201177 Beljevina Float altered volcanic 1.29 4.2 0.62
Maps with the sample locations are provided on the Company website (http://www.reservoirminerals.com/).

In the Coka Kupjatra permit, drill holes RTC 1407 and 1409 tested IP anomalies south of the Lipa high sulphidation system, while in the Tilva Njagra permit, drill hole RTT 1403 tested a low resistivity CSAMT feature at Kumustaka. Drill holes FMWC 1201 (Kulmea), FMWC 1304 (Kumustaka) and RTC 1409 (Lipa) intersected intense advanced argillic high sulphidation alteration with numerous hydrothermal and tectonic breccia zones, and with overprinted potassic and transitional argillic-phyllic assemblages observed at depth as evidence for overprinted porphyry.

Weakly anomalous copper and gold grades are observed locally with selected intervals from RTC 1409 that are marked by quartz±sulphide veinlets include 263-265 metres (2 metre interval) containing 0.91% copper and 926 parts per million (ppm) arsenic, and 522-525 metres (3 metre interval) containing 0.21% copper, 728 ppm lead, 0.31% zinc, and 677 ppm arsenic, including 1 metre (523 - 524 metres) with conspicuous quartz-sulphide veins that returned a content of 7.94 g/t gold. Assay results from RTT 1403 yield weakly anomalous gold and copper from surface to a depth of approximately 250 metres including, for example, 10 metres at 0.11 g/t gold from 36.0 to 46.0 metres, and 8 metres at 0.12 g/t gold from 152.0 to 160.0 metres. Drill hole RTT 1410 at Zlace intersected weakly altered andesite volcanics with no anomalous copper or gold values.

The exploration program in the Coka Kupjatra and Tilva Njagra permits confirmed the presence of gold and copper mineralization associated with extensive and structurally-controlled epithermal alteration systems. In particular, the Company has identified further porphyry and skarn targets at Kumustaka-Beljevina and Red River. The 2015 field program is in progress and the results will be used to define further targets in priority prospect areas for drill testing in 2016.

SEDIMENT-HOSTED COPPER EXPLORATION PROJECT, SERBIA

The reconnaissance exploration for sediment-hosted copper mineralization undertaken to date on the Company's four exploration permits covering approximately 277.65 square kilometres in eastern Serbia was summarised in News Release dated December 1, 2014. Follow-up 2015 field work, including detailed mapping, geochemical sampling (soil and rock), and ground geophysics, is underway and is focused on defining continuity between the known occurrences of copper-silver mineralization and identifying targets for drill testing.

Mapping and sampling results from the Samanjac Permit confirm that copper-silver occurrences are associated with bleached Permian red sandstones and a structural (generally NNW-SSE) and bedding (dip SSW to SSE) control. At the Senacki Potok locality visible zones of secondary (malachite, azurite, iron-copper oxide/hydroxides) and primary sulphide (chalcocite-pyrite) copper mineralization from 0.3 to 3.0 metres thick are associated with bleached and locally silicified alteration zones. Rock chip samples with visible secondary or sulphide copper in bleached red sandstone in the Samanjac Permit returned grades of up to 4.53% copper and 52.6 g/t silver. Assays are awaited for rock chip samples from the other three permit areas in the sediment-hosted copper project.

Table 4: Analytical results of selected samples from the Samanjac permit
Sample ID Permit/Prospect Sample Type Copper
(%)
Silver
(g/t)
SM 0200780 Samanjac / Javorac Float, selected grab 2.94 21.9
SM 0200782 Samanjac / Javorac Float, selected grab 2.31 14.35
SM 0200745 Samanjac / Senacki Potok (Beljevski vrh) Outcrop, random chip 1.04 20.4
SM 0200774 Samanjac / Senacki Potok (Dranjska Cuka) Float, selected grab 4.53 52.6
SM 0200777 Samanjac / Senacki Potok (Konjski potok) Float, selected grab 2.18 18.7
Maps showing the locations of Exploration Permits and prospects in the sediment-hosted copper project are posted on the Company website (http://www.reservoirminerals.com/).

LEAD-ZINC-SILVER-GOLD EXPLORATION PROJECTS, SERBIA

The Company operates 3 exploration permits (Bobija, Parlozi and Donja Tresnijca) in the Vardar tectonic zone, western Serbia, which contains several operating mines and is prospective for further discovery of zinc-lead-silver mineralization.

The Company reported on the results of the successful 622.9 metres (8 holes) drill program completed at its Bobija project in Serbia in Company News Release, November 24, 2014. Results include intercepts of 15.10 metres (from 2.0 to 17.1 metres down-hole, approximately 8.25 true thickness) through SEDEX or VMS style massive sulphide mineralization averaging 4.73% zinc, 4.23% lead, 122.14 g/t silver and 1.91 g/t gold in hole BB-07. Since then the Company has initiated additional research into the metallurgical properties of the sulphide mineralization, completed comprehensive petrological studies, prepared a new geological map and updated stratigraphic sections based on the results of the 2015 field work, evaluated the results of a Mine area gravity survey, and created a 3D model of the mineralized sulphide-barite horizon that will provide guidance on the further work required to complete an initial resource estimate. In addition, analytical results from six samples of barite (± quartz ± pyrite) collected from outcrops in the Bobija barite mine and three samples from processed barite material at the Bobija plant reveal that all samples contain anomalous gold (range 0.06 to 0.797 ppm gold) and confirms that the gold mineralization is not just associated with the massive sulphide mineralization. Recent exploration results suggest that the target Triassic stratigraphy, including the sulphide-barite mineralized horizon, may have a potential untested strike length of over 8 kilometres within the permit area. The results of the gravity survey demonstrate a good response from areas with known sulphide-barite mineralization, and identify several new targets for drill testing in the proximity of the mine.

The Company News Release, May 6, 2015, reported that option agreement with Midlands Minerals for the Parlozi project was terminated, and provided an overview of the recent exploration work. The silver-lead-zinc mineralization at Parlozi is interpreted to be similar in type to other carbonate-replacement deposits (CRD-type). The recent work demonstrates the presence of a significant mineralized system that is at least 2.0 x 1.5 kilometres in area, including both the Parlozi and Plandiste prospects and numerous historical exploration pits. Field work is continuing, and drill targets have been identified in favorable host rocks around a magnetic anomaly that is interpreted to represent the controlling intrusive body.

The fieldwork during the 2014 season in the Donja Tresnijca project was severely restricted by the effects of flooding. Previous prospecting by Company geologists identified outcrops of quartz-sulphide vein-type mineralization hosted by Paleozoic schists occur in the area around Zverovici village. At the Dragov Creek occurrence, polymetallic lead-zinc-silver-gold-copper-antimony mineralization is exposed in a historical adit. The mineralized zone, which is between 0.2 to 0.7 metres thick and probably associated with a low angle structure, consists of fine-grained, dark-grey to black, sulphides (pyrite, galena, sphalerite, tetrahedrite) with fragments of quartz and silica. A 0.6 metre channel sample yielded 11.2% lead, 4.83% zinc, 439 g/t silver and 2.62 g/t gold. Geological mapping during summer 2015 identified two major structural trends (NW-SE and NE-SW) that intersect in the Dragov creek area and may control mineralization. The NW-SE trending zone is up to 5 kilometres long, within which silicified and pyritised zones up 50 metres wide have been observed. Assay results for the 2015 rock sampling program are awaited.

Maps showing the locations of Exploration Permits, prospects, and drill collars in the lead-zinc-silver projects are posted on the Company website (www.reservoirminerals.com).

ROMANIA

The Company, through its wholly-owned Romanian subsidiary, operates two 100%-owned exploration licenses (Gura Salistei and Teiul) in the Banat region in southwest Romania. The Banat licenses cover a total of approximately 74 square kilometres over the prospective geology extending north from the area explored by the Company in the Timok Magmatic Complex, Serbia, which hosts the Bor and Majdenpek porphyry copper deposits and the Company's Cukaru Peki discovery with Freeport. The target in both licenses is porphyry, skarn and epithermal copper-gold mineralization.

Regional Exploration Program

The Company completed a systematic exploration program over both licenses, including regional and detailed geological mapping, systematic stream, soil and rock geochemical sampling, and ground magnetometry and, in the Teiul license, induced polarization geophysical surveys. A 1,439 metre exploration drilling program was completed in April 2015.

In the Gura Salistei license, porphyry-style alteration and quartz stock work vein mineralization is associated with late Cretaceous granodiorite stocks and dykes that intrude into hornfelsed Paleozoic schists. The surface footprint of porphyry-style alteration covers approximately 1.5 x 1 kilometres and is associated with two intrusive centres Lapusnic and Cornilor, about 800 metres apart. Both intrusive centres and the porphyry style alteration are marked by large magnetic high anomalies and a robust copper-in-soil geochemical anomaly (100 to 774 ppm copper, locally with anomalous coincident gold and/or molybdenum) that covers an area of approximately 2.4 x 0.6 kilometres.

In the Teiul license, skarn mineralization and quartz- vein stockwork zones are associated with late Cretaceous granodiorite intrusive sills, dykes and stocks that intrude basement schist and Cretaceous clastic sediments in a setting very similar to the Majdenpek copper-gold deposit in the northern part of the Timok Magmatic Complex, Serbia. The Purcaru prospect is marked by a copper-in-soil geochemical anomalous zone defined by the 100 ppm copper contour (maximum 1300 ppm copper), locally with coincident gold (50 to 1065 parts per billion), that covers an area of approximately 2 x 1 kilometres. The Purcaru prospect also contains anomalous magnetic signatures and IP chargeability anomalies that are being followed up during the 2015 field season.

Drilling Program

Exploration and drilling results validate the Company's exploration methodology and strategy. At Gura Salistei, preliminary results of field work and drilling confirmed the presence of porphyry style copper-gold mineralization and alteration related to at least two intrusive centres (approximately 800 metres apart), each comprising a series of multi-phase granodiorite intrusive stocks and dykes. At the Nasovat prospect, located in the north of the Teiul license, drilling confirmed that low level geochemical and geophysical (magnetic and IP chargeability) anomalies are related disseminated sulphides and skarn with occasional zones of weak veining, and are indicative of proximity to a possible intrusive porphyry system. A number of granodiorite intrusive centres, with untested geochemical soil copper and gold anomalies and alteration, occur less than 500 metres to the south and are currently being field checked.

Drill holes FGS 1 and FGS 2 were collared from the same drill pad adjacent to the historic Lapusnic adit. Drilling intercepted a strongly mineralized (quartz-sulphide±magnetite vein stockworks with up to 35% veining) granodiorite porphyry from surface to 192 metres, and then passed into weak mineralization (5 to 10% veining) in the contact zone between porphyritic granodiorite and hornfelsed schist. Drill hole FGS 2 encountered the same strongly mineralized granodiorite porphyry (as seen in FGS1) to 52 metres before passing into a weakly mineralized (5% veining) later phase granodiorite porphyry to the end of the hole at 300 metres.

Table 5: Company drill holes in the Gura Salistei and Nasovat target areas.
Drill
hole
Drill pad / License Location Azimuth /
Dip (º)
Depth
(m)
FGS 1 Pad 1 - Gura Salistei Lapusnic Adit 260 / -60 235
FGS 2 Pad 1 - Gura Salistei Lapusnic Adit 200 / -60 300
FGS 3 Pad 2 - Gura Salistei Cornilor Hill 140 / -60 412
FNT 1 Pad 1 - Teiul Nasovat 045 / -60 492

Alteration in the granodiorite porphyry and hornfels schist is dominantly potassic and silicic, with a chlorite-sericite clay overprint. The best copper and gold grades are found in the upper section of FGS 1. The interval (34.5 metres) from 2.5 to 37.0 metres yielded an average of 0.25% copper and 0.18 g/t gold, and is associated with the strongest veining (20 to 35%) and highest sulphide content (5-10%). In FGS 2, the interval (24.0 metres) from 1.0 to 25.0 metres yielded the best copper and gold grades with 0.21% copper and 0.11 g/t gold in mineralized granodiorite porphyry.

Table 6: Analytical results of selected core intervals from drill holes FGS 1 and FGS2, Gura Salistei.
Drill
hole ID
From
(m)
To
(m)
Interval
(m)
Cu
(%)
Au
(g/t)
CuEq
(%)
FGS 1 2.5 37.0 34.5 0.25 0.18 0.36
including 27.0 33.0 6.0 0.34 0.27 0.50
FGS 2 1.0 25.0 24.0 0.21 0.15 0.30
including 7.0 13.0 6.0 0.30 0.25 0.45

Drill hole FGS 3 tested soil geochemical and magnetic anomalism in the Cornilor Hill intrusive centre, and intersected an upper contact zone of hornfelsed schist and granodiorite porphyry sills overlying weakly mineralized (1-5 % quartz-sulphide vein) granular to porphyritic granodiorites. The observed alteration consists of weak potassic (biotite) and silicic, with a chlorite-sericite-clay overprint and chlorite-epidote-pyrite assemblages more common at depth. Weak copper mineralization is associated with the contact zone from 9.0 to 61.8 metres.

Drill hole FNT 1 at the Nasovat prospect, Teiul License, intersected Upper Cretaceous calcareous clastic and basement schists units. The calcareous sediments are intruded by a series of propylitic altered granodiorite intrusive sills and dykes that are locally associated with sulphide and magnetite bearing calcic skarn and sericite-chlorite alteration zones and weak quartz veining. The skarns and alteration zones contain disseminated sulphides but low copper, gold and molybdenum contents.

Work programs (Year 2, 2015-2016) for both licenses were submitted to the National Agency for Mineral Resources in July 2015. Follow-up geological mapping, infill geochemical soil and rock chip sampling, and geophysical (IP) surveys are now being undertaken over priority target areas in the Gura Salistei license and the Nasovat and Purcaru prospects in the Teiul license.

Maps showing the locations of Exploration Licenses, prospects, geochemical anomalism and drill collars in Romania are posted on the Company website (www.reservoirminerals.com).

MACEDONIA

The Company operates two exploration concessions in southern and eastern Macedonia. Furthermore, the concession agreements for two prospecting concessions in southern (2,612.3 square kilometres, surrounds the Konjsko exploration concession) and eastern Macedonia (2,125.4 square kilometres, north of the Dvorishte exploration concession) have recently been signed. These are the first such concessions granted under the current licensing system, and allow for the concession holder to carry out a 2 year program, at the end of which the concession holder has exclusive rights to apply for exploration concessions over 2.5% of each concession area, to a maximum exploration license size of 30 square kilometres per concession.

Konjsko Exploration Concession

In a News Release of February 2, 2015, the Company announced the results of the first year gold exploration program in the Konjsko exploration concession, including the "road cut" outcrop that yielded 19 metres containing an average 2.00 g/t gold (range 0.075 - 9.85 g/t gold) in a 2.5 kilometer long structural "corridor" that is marked by occurrences of realgar, stibnite and pyrite mineralization, and anomalous contents of gold, arsenic and antimony in soil and rock.

Since then the results of the ground geophysical (IP and magnetometry) exploration surveys have been evaluated. The magnetometry clearly reflects the NW-SE trending faults and structural grain that parallel the prospective "corridor". A prominent negative magnetic anomaly corresponds in part to the core of area with known gold mineralization, and may be reflecting hydrothermal alteration in the host metarhyolites and schists. The IP survey clearly identified and prioritized 5 strong IP anomalies within the prospective "corridor" that will be tested by trenching and drilling.

Fieldwork resumed in July 2015 and will initially focus on soil and rock geochemical sampling over the trend of the prospective "corridor".

Dvorishte Exploration Concession

The Macedonian government awarded the Company the Dvoriste Mineral Exploration Concession for copper and gold on January 26, 2015. Dvorishte lies within the prospective Vardar zone, 12 kilometres northeast from the Ilovitza project (currently being developed by Euromax Resources Ltd., www.euromaxresources.com with a measured and indicated resource compliant with NI 43-101 of 237 million tonnes at an average grade of 0.33% copper and 0.22 g/t gold as reported in Euromax Resources Ltd. Press Release December 03, 2013), and 35 kilometres east of the Solway Group Buchim mine www.solwaygroup.com. The Company considers that the mineralisation styles of the nearby mines and projects is relevant to the assessment of the Dvorishte Mineral Exploration Concession, however, it should be noted that mineralisation observed in other deposits in the district may not necessarily be indicative of mineralisation at Dvorishte.

Porphyry style copper mineralization was discovered in the 1970's with quartz-sulphide veining and biotite alteration centered on an approximately 1.5 x 1.5 kilometer dacite intrusive that is also marked by copper (maximum 167 ppm) and molybdenum (maximum 127 ppm) geochemical anomalism in soils. Regional geochemical data in the historic database also indicates several other target areas within the concession. Fieldwork to validate historical geochemical data and define drill targets has commenced.

Maps showing the locations of exploration concessions, prospects, geochemistry, geophysics and mineralised localities in Macedonia are posted on the Company website (www.reservoirminerals.com).

Quality Assurance and Control ("QAQC")

Drill hole orientations were surveyed at approximately 50 to 100 metre intervals. Samples through the reported intervals were generally 1 or 2 metres in length, and were collected in accordance with the Company protocols that are compatible with accepted industry procedures and best practice.

Drill core and surface rock chip samples from the Timok 100% owned projects were crushed and pulverized at the ALS Minerals facility in Bor, Serbia, and core and surface rock samples from the Romania projects were crushed and pulverized at the ALS Minerals laboratory, Rosia Montana, Romania. The samples were analyzed for gold by fire assay and AAS finish (rock samples containing greater than 10 g/t gold were reanalyzed with a gravimetry finish) at the ALS Minerals laboratory in Rosia Montana, Romania, and all samples were analyzed by multi-element ICP-AES after 4-acid digestion at the ALS Minerals laboratory in Loughrea, Ireland.

In addition to the laboratory's internal QAQC procedures, the Company conducted its own QAQC with the systematic inclusion of certified reference materials, blank samples and core and field duplicate samples. The analytical results from the Company's quality control samples have been evaluated, and demonstrated to conform to best practice standards.

Qualified Person:

Dr. Tim Fletcher, Chartered Engineer (UK) and Vice President of Exploration for the Company, a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators and a consultant to the Company, approved the technical disclosure in this release and has verified the data disclosed.

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, and the licenses described in this News Release will be available for joint venture.

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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