Mr. Nick Appleyard reports

WATERTON TO COMPLETE ACQUISITION OF CHAPARRAL GOLD FOR C$0.61 PER SHARE

Chaparral Gold Corp., Waterton Precious Metals Fund II Cayman, LP and Goldrock Mines Corp. (TSX-V: GRM) have updated their plan of arrangement transaction that was announced on Oct. 8, 2014.

Goldrock has assigned all of its rights and obligations under the arrangement agreement for the arrangement to Waterton Precious Metals Bid Corp., a wholly owned subsidiary of Waterton, which will now acquire all of the issued and outstanding Chaparral shares (other than the Chaparral shares it currently owns) at the previously agreed consideration of 61 cents in cash per Chaparral share. The parties have amended the arrangement to give effect to the foregoing, and have also waived the condition precedent to closing regarding the Junefield receivable.

Chaparral intends to seek the approval of the Supreme Court of British Columbia for the amended plan of arrangement on Feb. 5, 2015. Subject to receiving this approval and the satisfaction of customary conditions to closing, it is expected that the arrangement will be effected on or about Feb. 18, 2015.

Nick Appleyard, chief executive officer of Chaparral, commented: "After the passage of almost a year we are pleased to have finally reached a conclusion that we believe is in the best interests of all of the parties involved, and we wish to thank Waterton and Goldrock for their professionalism throughout the transaction process. In addition to acquiring a healthy treasury, Waterton is acquiring two high-quality gold properties in Nevada and we wish them the best of luck as they work to advance those projects towards production."

Isser Elishis, Waterton's managing partner and chief investment officer, said: "Waterton has established a track record of acquiring high-quality assets to which we apply extensive technical expertise in an effort to create tangible value. The acquisition of Chaparral will allow Waterton to add two additional premier projects to its existing inventory of Nevada assets and unlock the full potential of these projects. I would like to thank the management teams of Chaparral and Goldrock for persevering over the last year so that we can achieve a fantastic outcome for all stakeholders."

Paul Matysek, CEO of Goldrock, commented: "Goldrock is pleased to have helped the two parties complete the transaction and unlock shareholder value for Chaparral and Waterton. By assigning our rights to Waterton, we have obtained a financing from a solid shareholder and Goldrock will no longer have any obligations with respect to the Chaparral transaction. We are now solely focused on obtaining financing for our Lindero project, one of the few remaining permitted 100,000-ounce-per-annum gold heap leach projects under development."

We seek Safe Harbor.