SelectCore Ltd.
TSX VENTURE : SCG
PINK SHEETS : SLXXF

SelectCore Ltd.

June 28, 2011 09:28 ET

SelectCore Provides Management Update

TORONTO, ONTARIO--(Marketwire - June 28, 2011) - SelectCore Ltd. (TSX VENTURE:SCG)(PINK SHEETS:SLXXF) a provider of prepaid telecom and financial solutions for the credit challenged and unbanked consumer market announces that there has been no material change in the Company nor has there been any insider selling that would account for the recent decline in share price following the release of its record Q1 financial results.

SelectCore has made significant progress towards transitioning the Company into the high-margin prepaid financial services space with the launch of Iridium MasterCard, ReCash and its new international mobile remittance solution.

These new offerings, together with key milestones to be announced by the Company in the near future, will provide significant growth opportunities for SelectCore.

"Management and the entire SelectCore team remain committed to the Company's vision and creating long-term shareholder value" said Keith McKenzie, CEO of SelectCore.

About SelectCore:

SelectCore is a leading provider of transaction processing and point-of-sale solutions for the prepaid telecom market and financial services sector. From prepaid mobile top-up to stored-value cards, SelectCore services a market of nearly 80 million underbanked and credit-challenged consumers through its extensive retail distribution network across Canada and the United States. SelectCore is listed on the TSX Venture Exchange under the symbol "SCG" (TSX VENTURE:SCG) and "SLXXF" (PINK SHEETS:SLXXF) in the US. SelectCore was ranked by Profit100 Magazine as one of Canada's fastest growing companies in 2006, 2007, 2009 and 2010.

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks related to market and financing conditions as well as risks associated with the prepaid telecom and prepaid financial industries, changes in project parameters as plans continue to be refined as well as those risk factors discussed in the Company's management's discussion and analysis for the period ended December 31, 2010, available on www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information contained herein, except in accordance with applicable securities laws.

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

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