Mr. Russell Marshall reports

ACQUISITION OF GOLDEN JADE PROPERTY AND APPOINTMENT OF NEW DIRECTORS

Anglo-Bomarc Mines Ltd. (NPL) has entered into a letter agreement dated Aug. 25, 2014, with Golden Jade Mining Inc., pursuant to which the company will acquire a 50-per-cent interest in the Golden Jade property located in the province of British Columbia, Canada.

As part of the transaction, the company has appointed Eva Miao and William Li to the board of directors and vice-presidents of Anglo, effective Aug. 25, 2014. In addition, the company has appointed Ms. Miao as chief operation officer and Mr. Li as chief mining officer to assist the company to complete the transaction, raise capital and continue operation.

The acquisition is an arm's-length transaction and, as such, will not be subject to shareholder approval.

GJM is a private mining company incorporated in 2004, which holds properties in the province of British Columbia, Canada, for the purpose of exploring, developing and operating mineral resources, especially for gold, jade and gemstone resources.

The Golden Jade property

The Golden Jade property is located in southwestern British Columbia, where the Fraser River is generally considered to be the boundary between the Cascade Mountains to the south and east and Coast Range to the north and west. It is part of a major structure called Hozameen fault zone and covers part of the Ladner group sediments of Jurassic age. This structure is also known as the Coquihalla Serpentine gold belt and hosts several known lode gold occurrences and past-producing mines. The majority of the gold occurrences, including Carolin's Idaho zone gold deposit, is found east of the Hozameen fault zone in the Ladner slate formation and favours the greywacke unit. There have been known gold, jade and gemstone occurrence in the area.

The property consists of 20 placer claims covering approximately 416.50 hectares located in Boston Bar area, southwestern British Columbia. GJM is 100-per-cent owner of all the claims except for one claim, of which it owns 50 per cent.

An NI 43-101 technical report with respect to the property will be prepared for the company.

Proposed acquisition

Upon TSX Venture Exchange's approval, the company will issue a total of 28 million common shares of the company to the shareholders of GJM in exchange of 50-per-cent interest in the property.

Completion of the acquisition is subject to a number of conditions, including, but not limited to:

1. Completion of the financing (as defined herein) concurrently with the closing of the acquisition;
2. Completion of due diligence reviews, with results satisfactory to the company;
3. Execution and delivery of the definitive agreement with respect to the property;
4. TSX-V and Anglo board of directors' approval.

In addition, pursuant to the terms of the letter of intent, the parties have agreed that, upon closing, Ms. Miao will be appointed as chief executive officer and corporate secretary of Anglo, and Mr. Li will be appointed as chief financial officer and president of Anglo. Further, Ms. Miao will be appointed as audit committee chair.

GJM will be the mining operator for the project of Anglo.

Financing

Concurrently with the acquisition, the company will conduct a non-brokered private placement pursuant to which it shall issue 40 million common shares at a price of five cents per share for gross proceeds of $2-million. Each common share will include one warrant to purchase one common share at 10 cents within six months upon closing.

Anglo will arrange a $300,000 financing to pay its liabilities and related financing cost. GJM will arrange $1.7-million for the project operation cost, working capital and general corporate purposes.

In accordance with applicable securities legislation, all securities issued will be subject to a hold period of four months and a day from the date of completion of the financing.

Directors, officers and other insiders

Ms. Miao

Ms. Miao is a business professional with over 20 years of broad experience in the areas of management, corporate finance and accounting, and capital market and investment, as well as international trade, business development and operations.

Ms. Miao is the CEO and director of Golden Jade Mining. Ms. Miao also serves as CFO and director of Success Mining Group Ltd. Ms. Miao is in charge of corporate strategies and directions, business planning, development, and operations. She oversees government relations, sales and marketing, accounting and finance, due diligence, corporate governance and compliance, raising funds, capital structure, and general corporate management. In addition, Ms. Miao is the founder, CEO, president and director of Success Group International Holdings Corp., a company that provides consulting services for business investment and management and assists private companies to go public and public companies in corporate finance, merger and acquisition, investor relations, corporate governance, business development, and management.

Ms. Miao was an investment adviser and financial adviser at Edward Jones. She completed the Canadian securities certificate, conduct and practices handbook course, and Canadian insurance course at Canadian Securities Institute and was licensed in the province of British Columbia, Canada, in 2008. Prior to that, Ms. Miao worked in management positions in various business entities for many years.

Ms. Miao holds an MBA degree from Webster University in the United States. She also holds a bachelor's degree in economics in international trade from Shanghai International Studies University.

Ms. Miao's strengths lie in leadership and direction. Her success has been founded on a belief in corporate value, communication and business development, as well as team building and strong leadership.

Mr. Li

Mr. Li is a professional engineer with over 25 years experience in project management, property exploration and evaluation, as well as operation and environmental compliance. He has extensive and practical experience in mining exploration, development and production, and especially in metallurgic engineering, project establishment and operation. Besides, he has strong experience in property building and construction, mechanical engineering, and maintenance. Mr. Li has broad experience in corporate management and business development.

Mr. Li is the president, CFO and director of Golding Jade Mining. In addition, Mr. Li serves as president, CEO and director of Success Mining Group Ltd. Mr. Li is responsible for identifying and sourcing exploration mining properties, developing projects, and conducting operations. He is also in charge of capital raising, project planning, cost control, financial estimates and business development.

Prior to that, Mr. Li worked as a metallurgical and materials engineer at North East light alloy fabrication plant in China for over 10 years.

Mr. Li holds a bachelor's degree in metallurgical and materials engineering from China Central South University. The degree and related working experience were accredited by Canadian Council of Professional Engineers.