Mr. Keith Henderson reports

VELOCITY INTERSECTS BROAD INTERVALS OF GOLDMINERALIZATION AT ITS ADVANCED ROZINO GOLD PROJECT, SOUTHEAST BULGARIA

Velocity Minerals Ltd. has received laboratory results for three additional diamond drill holes at the company's advanced Rozino gold project, located within the Tintyava prospecting and exploration licence area in southeastern Bulgaria (see attached table). All three boreholes intersected broad zones of gold mineralization which demonstrate excellent continuity and further support the potential for a near-surface, bulk-tonnage, open-pit development project. Drilling at Rozino is continuing with 11 drill holes completed to date and mineralization remains open for expansion.

Holes RDD-005 and RDD-006 are 50-metre stepsouts from holes previously released (see NR17-05 and -06 for details). RDD-005 returned three intersects above 0.5 gram per tonne gold for over 50 m of cumulative mineralization, including 13.9 m at 2.32 g/t gold. Hole 6 returned three intersects above 0.5 g/t gold for over 80 m of cumulative mineralization, including 41.0 m at 1.19 g/t gold.

RDD-007 was collared approximately 200 m to the northeast of the main Rozino target and was designed to test the potential depth extents of historic trench results. The hole intersected mineralized sediments grading 0.80 g/t gold over 22.4, before passing into faulted granites returning two additional intersects. These results are very encouraging and a program of trenching to better define the nature of the mineralization is under way prior to further drill testing of this target later this year.

     DRILL RESULTS FROM VELOCITY DRILL HOLES RDD-005, -006 
                      AND -007 AT ROZINO
          
Drill hole   From (m)   To (m)   Thickness (m)^   Gold (g/t)  
          
RDD-005         28.8     39.3            10.5          0.52 
and             55.1     81.9            26.8          0.68 
and            118.9    132.8            13.9          2.32 
RDD-006         62.0     94.0            32.0          0.69 
and            109.0    117.0             8.0          0.93 
and            124.0    165.0            41.0          1.19 
including      122.0    136.0            14.0          2.58 
RDD-007         25.3     47.7            22.4          0.80 
and             67.7     75.7             8.0          0.62 
and             80.7     89.7             9.0          0.57 

^ The current exploration model has not had sufficient drill 
  testing to be able to determine true thickness of 
  mineralization.

Quality assurance/quality control

The work program at Rozino was designed and is supervised by Stuart A. Mills, CGeol, the company's vice-president of 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 used for the results described herein are 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 added to every batch. Drill intersections in this news release are calculated using a 0.2 g/t gold trigger, a minimum 0.5 g/t gold composite and a maximum of two-metre consecutive waste.

Qualified person

The technical content of this release has been approved for disclosure by Stuart A. Mills, BSc, MSc, CGeol, a qualified person as defined by National Instrument 43-101 and the company's vice-president of exploration. Mr. Mills is not independent of the company.

About Velocity Minerals Ltd.

Velocity is a gold exploration and development company focused on eastern Europe. The company's management and board include mining industry professionals with over 100 years of 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 record in managing publicly listed companies.

The company's portfolio of advanced gold exploration assets is currently in Bulgaria, which is a member of the European Union (2007) and an attractive destination for mining investment.

We seek Safe Harbor.