Mr. Richard Grayston of Glenmark reports

GLEMMARK TO ACQUIRE SCOTIA ZINC-SILVER PROJECT

Glenmark Capital Corp. has entered into an agreement with GeoNovus Minerals Corp., whereby the company can earn a 100-per-cent interest in the Scotia zinc-silver project, which covers an area of about 4,040 hectares in the Skeena mining division, about 40 kilometres southeast of Prince Rupert in west-central British Columbia, Canada.

The Scotia project hosts a metamorphosed massive sulphide deposit located within the Ecstall belt of metavolcanic rocks that extend through west-central British Columbia. Resource modelling of the Albere zone in 2009 established a vertical range of mineralization of 95 metres and a horizontal range of 205 metres. The high-grade core area widened to about 30 metres about 190 metres north of the outcropping main showing. The thickest drill intercept in the Albere zone was 26.7 metres grading 9.0 per cent zinc, 1.2 per cent lead, 21.5 grams per tonne silver and 0.3 gram per tonne gold. A resource estimate was calculated for the Albere zone by Giroux Consultants Ltd., based on 42 drill holes totalling 4,343 metres. The results from a 1997 drilling program comprised most of the data used in the modelling, with much of the core reassayed in 2008 to confirm earlier results. Ordinary kriging was used to interpolate blocks based on mineralization content.

Based on a 1-per-cent Zn cut-off, the measured plus indicated resource within the 3-D mineralized shell totals 802,000 tonnes grading 4.9 per cent Zn, 13.9 g/t Ag and 0.2 g/t Au, with an additional 702,000 tonnes grading 4.5 per cent Zn, 13.7 g/t Ag and 0.2 g/t Au classed as inferred. Economic parameters have not been defined by the current resource estimate as to an appropriate cut-off for various types of mining. Geological information and resource estimates for the Scotia property have been drawn exclusively from the Scotia property technical report (2011) by Arne Birkeland, PEng, and Gary Giroux, PEng. As part of this transaction, Glenmark contemplates filing its own technical report on the Scotia property. In compliance with National Instrument 43-101, the company intends to file a technical report containing resource estimates within 45 days of dissemination of this news release.

To expand known mineralization, an airborne AeroTEM magnetic/electromagnetic survey was conducted by Aeroquest in 2008. The survey identified a distinctive anomaly associated with the drilled portion of the Albere zone, as well as similar additional anomalies on strike, and adjacent to, the Albere zone. In 2010 a geochemical survey was completed to follow up on the airborne anomalies, and virtually all zones returned geochemically anomalous values. While no ore-grade showings were found, values of over 1,000 parts per million Zn were encountered from in-place, rock-chip sampling.

Glenmark can earn a 100-per-cent interest by paying in stages $375,000 and completing $750,000 in exploration expenditures over 36 months. The 100-per-cent interest is subject to an underlying 2-per-cent net smelter return royalty payable to Doublestar Resources Ltd., with an additional 1/2-per-cent NSR payable to GeoNovus, of which 1 per cent can be purchased by Glenmark for $1-million. This transaction is subject to TSX Venture Exchange approval.

Regarding the acquisition, board member Dr. Peter Born commented: "This acquisition of the Scotia deposit is a strategic investment by Glenmark in the base-metal space, where the board believes there is room for tremendous growth and appreciation. Further, capturing the value of the Scotia project's mineralization solidifies shareholder value for the near and long term."

The technical contents of this news release have been prepared under the supervision of Dr. Peter Born, PGeo. Dr. Born is a qualified person as defined in National Instrument 43-101 and has approved this news release.

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