Windamere Appoints Vern Arseneau as VP Exploration

TORONTO, ONTARIO--(Marketwire - Oct. 23, 2012) - Windamere Ventures Ltd. ("Windamere" or the "Company") (TSX VENTURE:WV) welcomes Mr. Vern Arseneau as the Vice President, Exploration for the Company.

Mr. Arseneau has more than thirty years of experience in exploration and project management, of which the last sixteen have been in South America, principally in Chile, Peru, and Argentina. Mr. Arseneau spent 20 years working as exploration manager and senior geologist for Noranda Inc. in Canada and South America. As the general manager of Noranda's Peru office for four years, he was responsible for the reactivation of the El Pachon project in Argentina and during his three years based in Noranda's Santiago, office he participated in the company's regional exploration program and acquisition of the Lomas Bayas Mine near Antofagasta.

Mr. Arseneau holds a Bachelor of Science in geology and has consulted on various base and precious metals projects. More recently, he was responsible for the recent discovery of the promising Dolores Cu-Mo porphyry located in the prolific Andahuaylas-Yauri porphyry belt of Peru.

Will Randall, President and CEO of the Company, commented "We welcome Vern to our management team. Vern brings a wealth of experience to the company, including in depth knowledge of mineral exploration in South American countries as well as operational hands-on expertise. During his years working at managerial positions in South America, Vern has formed an invaluable network that will facilitate the expedited development of the Company's gold assets. We are delighted to have Vern form part of our team."

In connection with this appointment, the Company granted Mr. Arsenault 300,000 stock options exercisable at $0.79 for a period of 5 years from the date hereof. In addition, the Company granted 50,000 stock options exercisable at $0.79 to a consultant of the Company for a period of 5 years from the date hereof. The options remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange and are subject to a four month and one day statutory hold period.

On behalf of the Board of Directors of WINDAMERE VENTURES LTD.

William Randall, President, and CEO

Cautionary Notes

Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding the financing, the anticipated timing and impact with respect to the financing, the timetable with respect to future acquisitions and exploration developments, timetable for further exploration, analysis and development, title disputes or claims; and governmental approvals and regulation. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.