Mr. Jason Brewster reports

ANCONIA COMPLETES SUCCESSFUL INITIAL PROGRAM AT GRENFELL PROPERTY, KIRKLAND LAKE ONTARIO

Anconia Resources Corp. has completed a successful initial exploration program at its Grenfell property near Kirkland Lake, which is under option from Cadillac Ventures Inc. The program consisted of prospecting, sampling and mapping of known historic gold showings and other areas of the property.

The results of the program demonstrate three areas of significant gold mineralization within close proximity to each other, the Allen veins (known from historic records, see press release dated Sept. 2, 2014), the Four Nations shaft area and the Riverside trench area.

Highlights from the program are:

• Grab samples up to 18.8 g/t Au from the Allen veins area;
• Channel sample of 2.9 g/t over three metres from the Allen veins area. The vein system appears to continue beyond channel sample limits, but mechanized stripping and washing are needed to explore this more extensively;
• Channel sample of 1.17 g/t Au over 2.4 m; sample is taken from the Sylvanite fault in the Riverside area. The Sylvanite fault is a major structure trending northwest-southeast across the property that may be a primary control on gold distribution;
• Channel sample of 0.22 g/t Au over four m from the Four Nations shaft area.

Jason Brewster, president and chief executive officer of Anconia, commented: "Anconia is very pleased with the results of the initial prospecting program on the Grenfell property. We have verified that there is gold on the property in a number of locations, and specifically we have confirmed at the Allen veins that there is gold distributed over a minimum of three m widths, and that there are areas of high-grade gold as demonstrated by the grab sample of 18.8 g/t. Additionally the close proximity of the Sylvanite fault, a significant northwest-southeast structure, which may intersect both the Cadillac-Larder Lake break and the possible extension of the 2004 main break, to the Allen veins is encouraging. We know from the new developments at the Macassa mine (approximately five kilometres from the property) that the north-south-trending structures can be important controls for gold emplacement. Anconia has commenced a second program of ground work which will focus on the Allen veins and expand the currently stripped area as much as possible with hand tools and pressure washing to more extensively sample the showing."

Allen veins area

The Allen veins are a series of shear-hosted northeast-southwest-trending extensional quartz veins and quartz ankerite stockworks with pyrite halos that are perpendicular to the Sylvanite fault. The veins, approximately 250 m north of the Four Nations shaft, were uncovered and sampled by a series of trenches in the 1930s by Four Nations Consolidated Gold Mines Ltd. The historic trenches were estimated to contain 0.25 ounce per ton (8.57 grams per tonne) gold over a width of 7.8 feet (2.38 metres) and a strike length of 200 feet (61 m) (previously reported in press release dated Sept. 2, 2014). During the company's prospecting program, the Allen veins were located and sampled with both grab samples and channel samples where possible (results are listed in the table). The veins and stockwork appear to be offset to the north. To the west mechanical stripping will be required to expose any extension of this vein system.

Riverside area

The Riverside area is approximately 125 m southwest of the Allen veins area, along the shore of the Blanche River. This area consists of quartz veining with low carbonate content; coarse pyrite and chalcopyrite occur within the quartz veins. The stripped area is approximately five m wide and exposes a section of very strong shearing showing sinistral deformation related to the Sylvanite fault. A channel was cut across a shear zone, which returned 1.17 g/t Au over 2.4 m, this channel does not constrain the extent of the mineralization, but confirms that gold mineralization is related to the Sylvanite fault.

Four Nations area

Gold was discovered at the Four Nations site in 1917 and shaft was sunk to 25 feet to explore the gold showing. In 1926 the property was acquired by Four Nations Reserve Mining Company Inc., which between 1926 and 1928 excavated a shaft to 536 feet and established levels at 125, 250, 375 and 500 feet. Approximately 2,500 feet of lateral development was undertaken at that time, mostly on the 500-foot level. The mine was closed in 1929, with no recorded production.

In 1933 the property was acquired by Four Nations Consolidated Gold Syndicate, which became Four Nations Consolidated Gold Mines. Operations resumed in November, 1933, and continued until November, 1934. At that time 1,065 feet of drifting and 1,451 feet of crosscutting were completed.

The work at Four Nations over the years identified 10 vein systems which have been projected to surface. Anconia intends to locate and sample these veins. During the intial prospecting program, one of the veins was located with gold values of 0.22 g/t over four m.

                  CHANNEL SAMPLES                              

Sample range                     Au        Width
                               (g/t)          (m)

1409371-1409375                 2.9            3
1409376-1409381                 1.1          2.3
1409382-1409384                0.51          1.5
040501-040504                  1.17          2.4
040524-040527                  0.05          2.6
040528-040530                  0.01          1.7
040531-040535                  0.03            3
040536-040542                  0.22            4

         GRAB SAMPLES

Sample No.                Au
                        (g/t)

1409385                 0.02
1409386                 0.01
1409387                 0.03
1409388                 0.14
1409389                 0.63
1409390                 0.03
1409391                 1.68
1409392                 0.01
1409363                 0.18
1409364                18.80
1409365                 0.96
1409366                 1.97
1409367                 0.09
1409368                 4.28
1409369                 1.08
1409370                 0.05

Sampling protocol

Samples referred to in this press release were obtained in the field by, or under the supervision of, Brian H. Newton, PGeo, a qualified person pursuant to the guidelines set out in National Instrument 43-101. Samples were in the form of grab samples which were removed from outcrop using hand tools, and channel samples were cut using a diamond saw before being removed using chisels. Once obtained, and immediately after recovery, each sample was inserted into a labelled sample bag, alongside a unique tag provided by the assay laboratory. Bags were then tied using cable ties and placed in larger, labelled rice bags. Samples were then delivered to Agat Laboratories in Sudbury where they underwent analysis procedure 202-052 to fire assay for gold and a gravimetric finish was used for overlimits. The qualified person has not independently verified the data and has relied on the quality assurance/quality control protocols of Agat Labs as per its ISO 9001 certification.

Brian H. Newton, PGeo, of Minroc Management Services Inc., qualified person pursuant to National Instrument 43-101, has reviewed and approved the technical disclosure in this press release on behalf of the company.

We seek Safe Harbor.