Rockland Minerals Corp.

Rockland Minerals Corp.

November 30, 2011 09:00 ET

Rockland Completes Definitive Agreement for Blue Lake Cu-Ni-PGM Mining Lease, Labrador Trough, Quebec

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 30, 2011) - Rockland Minerals Corp. (TSX VENTURE:RL) (the "Company") reports signing of the definitive option agreement with La Fosse Platinum Group Inc. ("La Fosse) for the Blue Lake Cu-Ni-PGM "deposits" located in the heart of the Labrador Trough, Quebec. The option agreement was negotiated following a binding letter agreement announced on October 13, 2011 covering five separate mining leases with existing non-43-101 compliant mineral resources defined by drilling from the 1950s up until 1988. Two of the properties also have excellent exploration potential for zinc deposits.

The agreement covers Québec Special Mining Leases, originally granted to Hollinger North Shore Exploration Ltd. ("Hollinger") in the Labrador Trough area of Québec. They include the Cu-Ni-PGE Blue Lake cluster in the south, and extend northward to the Chance Lake, Glance Lake, and Lac Aulneau (Marymac) ultramafic-hosted copper-nickel-platinum-palladium occurrences at the base of folded peridotite sills in the Labrador Trough. The Jimmick and Fredrickson Cu-Ni-Zn mineralization lies within a distinctive "leopard rock" with a glomeroporphyritic gabbro texture, known to be a favourable exploration target in this part of the Labrador Trough. All these Québec Special Mining Leases were first granted by the Province to the Iron Ore Company of Canada following the end of World War II. A quick search of the literature will confirm that these are among the best Cu-Ni-PGE mineral showings in the southern Labrador Trough.

The total historical tonnage and weighted average of the 4 main deposits, plus smaller lenses at Blue Lake is 4.03 Mt at 0.85% Cu, 0.52% Ni and 0.84 g/t Pt+Pd. These deposits are well documented in various reports by government and independent geologists and have historical estimates as follows:

Zone Reference Tonnes Copper % Nickel % Pt+Pd (g/t)
Blue Lake #1 (Clark 1994) 400,000 0.99 0.66 1.13
Blue Lake #2 (Clark 1994) 1,000,000 0.88 0.41 0.80
Centre (Clark and Wares 2005) 1,390,000 0.77 0.59 0.90
Pogo (Clark and Wares 2005) 1,240,000 0.96 0.49 0.71
Total Weighted Average 4,030,000 0.85 0.52 0.84
(All grades and tonnages presented in this press release are historical and are not NI 43-101 compliant. Please see section on historical estimates below.*)

Historical information is being compiled on the Jimmick, Chance Lake, Glance Lake, Fredrickson mining leases and the Lac Aulneau claims and will be provided in a future announcement.

Recently, the Company announced partial drill results from its neighboring Retty Lake property. The results confirm the presence of strongly anomalous copper, nickel platinum and palladium in the target rocks of the Retty Lake middle peridotite sill. This middle peridotite unit hosts the adjacent Blue Lake Cu-Ni-PGE deposits. Drilling results also confirm the existence of "stacked" Cu-Ni-PGE mineralization in multiple horizons, similar to new discoveries in the southern Raglan Belt in Québec's Ungava region. The drilling at Retty Lake also reported 2 meters of 444 g/t Ag and 0.19% Cu occurring in sulfide-rich black shales.

Under the option agreement, the Company can acquire a 55% interest in the Property over a 4 year period by making cash payments totaling $350,000 and issuing an aggregate of 5 million common shares and by spending $4.5 million in exploration on the property. The terms still require approval of the TSX Venture Exchange.

Historical Estimate

* The historical resources referred to in this press release are based on work completed and estimates prepared by La Fosse Platinum Group prior to the existence of National Instrument 43-101 and therefore not prepared in accordance with National Instrument 43-101. The Company considers the historical resource estimates relevant and reliable. The Company is not treating the historical resource estimate as a current mineral resource. A Qualified Person has not done sufficient work to classify the historical estimate as current mineral resources.

These historical estimates do not have categories used in sections 1.2 and 1.3 of National Instrument 43-101. The Company is currently studying what future steps will be required to upgrade or verify the historical estimate presented above. Reference cited for historical estimate: Clark, T., and M. Wares, 2005 Lithotectonic and metallogenic synthesis of the New Québec Orogen (Labrador Trough): Ministère des Ressources naturelles, Québec; MM 2005-01, 175 p.

George F. Sanders, P.Geo, a director of the Company, is the Qualified Person under NI 43-101 responsible for the technical content of this News Release.

We seek Safe Harbor.

On behalf of the Board of Directors

Rav Mlait, President and CEO

Rockland Minerals Corp.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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