Mr. Warren MacLeod reports

BUCHANS FILES TECHNICAL REPORT FOR PLYMOUTH MANGANESE DEPOSIT, NEW BRUNSWICK, CANADA

Buchans Minerals Corp. has filed a technical report titled "Mineral Resource Estimate Technical Report for the Plymouth Mn-Fe Deposit, Woodstock Property, New Brunswick, Canada," on SEDAR. There are no material differences between the mineral resource estimate disclosed in the technical report filed May 22, 2013, and the previously reported resource estimate disclosed in Buchans Minerals' news release dated May 8, 2013. The Plymouth deposit is located within Buchans Minerals' 100-per-cent-owned Woodstock property, which is subject to an agreement between Buchans Minerals and Minco PLC, whereby Minco have the option to earn up to a 50-per-cent interest in Buchans Mineral's wholly owned subsidiary, Canadian Manganese Company Inc. (CMC), the registered owner of the property.

The technical report was prepared for Buchans Minerals and Centrerock Mining Ltd. (a wholly owned subsidiary of Minco) by Michael Cullen, PGeo, and Andrew Hilchey, PGeo, of Mercator Geological Services Ltd. of Dartmouth, N.S. The report was prepared in accordance with National Instrument 43-101 and conforms to the Canadian Institute of Mining, Metallurgy and Petroleum definition standards on mineral resources and mineral reserves.

Minco and Buchans joint-venture agreement

Minco has the right to earn up to a 50-per-cent interest in CMC, a wholly owned subsidiary of Buchans Minerals that owns 100 per cent of the Woodstock manganese property. Minco has committed to earning a 10-per-cent interest in CMC by making phase one expenditures of $1.25-million to finance drilling and resource estimation of an inferred resource at the Plymouth deposit as well as complete additional hydrometallurgical testwork on the deposit to optimize the flowsheet to produce high-grade electrolytic manganese metal (EMM).

Following this initial commitment, Minco will have 30 days to elect to continue with further expenditures of $750,000 over a period of six months (phase two expenditures) to complete a preliminary economic assessment on the Plymouth deposit to earn a further 10-per-cent interest in CMC. If Minco elects not to proceed with the second phase of expenditures, Buchans will have a 90-day option to buy back Minco's 10-per-cent interest in CMC for $1.25-million. Buchans Minerals is now in the process of completing a full property assessment report that will complete the phase one program and trigger the 30-day election period.

Should Minco advance the project through a preliminary economic assessment, it will have an exclusive three-month option to elect to earn a further 30-per-cent interest in CMC by completing an NI 43-101-compliant prefeasibility report on the deposit within two years (budget to be determined at that time). Buchans Minerals will be the operator for all work programs performed under the option agreement with Minco.

As previously announced in the company's news release of April 30, 2013, the company has signed a binding agreement with Minco to complete a business combination by way of a court-approved plan of arrangement. In the event Buchans Minerals shareholders vote in favour of the arrangement, Minco will acquire all of the shares of Buchans Minerals it does not already own and Minco will then indirectly control 100 per cent of CMC, in which case the above-mentioned option will no longer be applicable.

Qualified person

Paul Moore, MSc, PGeo, Buchans Minerals' vice president of exploration, a qualified person within the meaning of National Instrument 43-101, has reviewed the contents of this release for accuracy and is responsible for technical content of this press release.

We seek Safe Harbor.