Mr. Mark McMurdie reports

ROSCAN AMENDS GHANA GOLD PROJECT OPTION AGREEMENT WITH PELANGIO AND PRIVATE PLACEMENT

Further to Roscan Minerals Corp.'s announcement of Nov. 8, 2016, certain payments due pursuant to the option and joint venture agreement dated Nov. 7, 2016, with Pelangio Exploration Inc. have been extended and are now as follows:

• (a) fund an aggregate of $2,000,000 in exploration expenditures, as follows:
  • $150,000 By March 5, 2017;
  • $150,000 By May 4, 2017;
  • $700,000 By December 5, 2017;
  • and, $1,000,000 By December 5, 2018.
• (b) pay to Pelangio an aggregate of $160,000, as follows:
  • $10,000 On November 7, 2016 (paid)
  • $50,000 On December 5, 2017;
  • and, $100,000 On December 5, 2018

In addition, the previously announced private placement has been changed to a non-brokered private placement of up to 5,000,000 units (each, a "Unit") of the Company, at a price of $0.05 per Unit for gross proceeds of up to $250,000. Each Unit will consist of one common share (the "Common Share") and one Common Share purchase warrant (the "Warrant") entitling the holder thereof to purchase one additional Common Share at an exercise price of $0.08 for twelve (12) months from the date of issuance. The Company reserves the right to accelerate the expiration of the Warrants, if at any time, which is more than four months and one day following the closing date of the private placement, the closing price of the Company's Common Shares is $0.15 or more for at least twenty (20) consecutive trading days. The Common Shares and Warrants comprising the Units will be subject to resale restriction for four months plus one day from the date of issuance. The Company may pay finder's fees with respect to proceeds raised.

The Company intends to use the net proceeds from the Offering to fund its initial exploration payment under the Option, for working capital purposes and otherwise in a manner consistent with the accomplishment of the Company's business objectives.

We seek Safe Harbor.