Velocity Exercises Option to Acquire 70% Interest at the Obichnik Gold Project, Bulgaria - Seite 2

Subsequent to the annual general meeting, the board of directors appointed the following officers: Keith Henderson as President & Chief Executive Officer, Darren Morgans as Chief Financial Officer, Daniel Marinov as Vice President, Operations, Stuart Mills as Vice President, Exploration, Joyce Musial as Vice President, Corporate Communications, and Arie Page as Corporate Secretary.

Quality Assurance / Quality Control

The work program at Obichnik was designed and is supervised by Stuart A. Mills, CGeol, the Company's Vice-President Exploration, who is responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at the project rigorously collect and track samples which are then security sealed and shipped to ALS Global laboratory in Romania. Samples were prepared and analyzed by fire assay using a 30-gram charge in compliance with industry standards. Field duplicate samples, blanks and independent controlled reference material (standards) are included in every batch. An additional sample taken from each pulverized sample is shipped to ALS Global laboratory in Ireland for aqua regia digest and silver plus multi-element analysis by Inductively Coupled Mass Spectrometry (ICPMS).

Qualified Persons

The technical content of this release has been approved for disclosure by Stuart A. Mills, BSc, MSc, CGeol, a Qualified Person as defined by NI 43-101 and the Company’s Vice President Exploration. Mr. Mills is not independent of the Company.

About Velocity Minerals Ltd.

Velocity is a gold exploration and development company focused on southeastern Bulgaria.  Velocity’s strategy is to develop a low cost centralized “Hub and Spoke” operation whereby multiple projects within this emerging gold district produce gold concentrates for trucking to a central processing plant for production of doré. The Company envisions staged open pit mining of satellite deposits and processing in a currently operating processing plant. Velocity has a 70% interest in the Tintyava property, which includes the Rozino gold project, a 70% interest in the Momchil property, which includes the Obichnik gold project, and a 100% interest in the Iglika property. The Company has entered into an option agreement to earn a 70% interest in the Makedontsi gold project. Velocity’s management and board includes mining industry professionals with combined experience spanning Europe, Asia, and the Americas as employees of major mining companies as well as founders and senior executives of junior to mid-tier public companies.  The team's experience includes all aspects of mineral exploration, resource definition, feasibility, finance, mine construction and mine operation as well as a track record in managing publicly listed companies.