Veraz Petroleum Initiates Due Diligence on Lithium Projects

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 9, 2016) - Veraz Petroleum Ltd. ("Veraz") (NEX:VRZ.H) (the "Company" or "Veraz") announces that the company has paid a refundable deposit of $25,000 US to Gold Exploration Management Inc. a Nevada based corporation, to initiate due diligence on lithium projects in Nevada, California and Mexico held by Callisto Financial SA. The Company intends to provide further updates upon completion of this due diligence, including the review of United States Geological Survey reports.

Advisory Regarding Forward-Looking Statements

Certain information provided in this news release may constitute forward-looking statements within the meaning of applicable securities laws. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties, including failing to complete the property disposition on terms that are acceptable to the Company or at all. Actual results could different materially from those currently anticipated due to a number of factors and risks. Certain of these risks are set out in more detail in the Company's Annual Information Form, which has been filed on SEDAR and can be accessed at www.sedar.com. The forward-looking statements contained in this news release are made as of the date hereof and except as may be required by applicable securities laws, the Company assumes no obligation to publicly update or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise. Neither the TSX venture exchange nor its regulation service provider (as that term is defined in the policies of the TSX venture exchange) accepts responsibility for the adequacy or accuracy of the content of this news release.