Mr. Maurice Colson reports

CHINA GOLDCORP PROVIDES CORPORATE UPDATE

China Goldcorp Ltd. has provided the following corporate update.

Maurice Colson has resigned as a director of the company, but remains in his executive officer roles. Gordon Campbell has been appointed to the company's board of directors to fill the vacancy created by Mr. Colson's resignation.

China Goldcorp also has terminated the share exchange agreement dated Dec. 18, 2013 with, among others, International Explorers & Prospectors Inc. and Explorers Alliance Inc., which was to serve as the company's qualifying transaction as defined by TSX Venture Exchange Policy 2.4.

The company further has been advised that it is not meeting the NEX and the TSX-V requirements for distribution. Accordingly, the NEX and TSX-V have placed the company on notice for distribution requirements, which the company must remedy as a condition of completing any future qualifying transaction.

Additionally, the company has scheduled its annual meeting of shareholders for 9 a.m. on July 28, 2016. The meeting will be held at 77 King St. West, suite 400, Toronto.

The company has applied for a reinstatement to trading, and the NEX/TSX-V have advised that soon after the dissemination of this news release that they will be issuing a bulletin reinstating the trading of the company.