Mr. Lawrence Dick reports

CONFEDERATION MINERALS TO FILE UPDATED TECHNICAL REPORT AND CLARIFIES TECHNICAL DISCLOSURE FOR THE NEWMAN TODD PROJECT

As a result of a review by the British Columbia Securities Commission (BCSC), Confederation Minerals Ltd. is issuing the following news release to clarify its disclosure regarding its previous mining technical disclosure relating to the Newman Todd project, as discussed below. Given the deficiencies in the company's disclosure of mineral resource estimate and a preliminary economic assessment (PEA) for Newman Todd, the BCSC has placed the company on the commission's issuers-in-default list.

In support of the disclosure in the company's press release of Oct. 23, 2014, announcing a mineral resource estimate and PEA, the company filed a technical report entitled "Technical Report for PEA, Newman Todd Project, Red Lake, ON, Canada," dated Dec. 5, 2014. The mineral resource estimate and PEA are unsupported by a compliant National Instrument 43-101 technical report, contrary to NI 43-101, and should not be relied on until they are supported by an amended technical report.

New technical report being prepared

To address the deficiencies contained in the previous report, the company intends to prepare and file a new technical report shortly to address the non-compliance issues.

Because of the non-compliance issues described above, investors and shareholders should not rely on the previous report.

Ralph Bullis, PGeo, FGC, is a qualified person as defined by NI 43-101 and has reviewed or supervised the preparation of the technical content in this news release.

We seek Safe Harbor.