Mr. William Randall reports

JOGMEC-ARENA JOINT VENTURE DISCOVERS A SECOND PORPHYRY SYSTEM

Arena Minerals Inc. is providing an exploration update for the program operated by the company as part of the $17.5-million (U.S.) joint venture agreement with Japan Oil Gas and Mineral Exploration Company. A total of 14,900 metres of primarily reverse-circulation drilling has been completed in 88 drill holes, as part of the phase 1 program that covers all of the areas under the JOGMEC agreement. Results have been received for an additional 45 drill holes, including assay and alteration analysis results (for the first 40 drill hole results, please refer to the company's news release dated Dec. 16, 2015). Drill holes CA-RC-20, CA-RC-21 and CA-RC-22, drilled in the southern portion of the Carmen Alto block, have collectively intersected a zone of silicification, white micas and epidote alteration, characteristic of porphyry systems in the district, with anomalous copper mineralization over an area of approximately 4.0 square kilometres. Mineralized intersections include 0.1 per cent copper over six metres (CA-RC-22) and 0.2 per cent copper over two metres within a broader mineralized section of 0.05 per cent Cu over 28 metres.

William Randall, president and chief executive officer of Arena, commented: "We have now received most of the results from the JOGMEC phase 1 drilling and continue to discover porphyry systems on the claims. Drill holes CA-RC-20 and CA-RC-22 have intersected favourable geology with copper mineralization. In addition to the success of PU-RC-39 in Pampa Union, we now have two highly prospective systems to concentrate on for phase 2 drilling. The permits required in order to complete up to an additional 241 holes have been submitted for the Pampa Union property, while some additional drilling can be done in this latest discovery area under our current permit."

Wide-spaced limited drilling to date at Carmen Alto has defined a zone of silicification with anomalous copper values and argillic alteration within mostly porphyritic andesites and volcanoclastics under cover. The area immediately east of current drilling by Arena has a prominent east-southeast-trending lineament associated with past artisanal mining operations that appears to continue on to the company's target area, making this an excellent exploration target for additional drilling.

The technical and scientific aspects of this news release have been reviewed and approved by Vernon Arseneau, PGeo, who is a qualified person pursuant to National Instrument 43-101. As the vice-president of exploration of the company, Mr. Arseneau is not considered independent.

We seek Safe Harbor.