Mr. Duane Parnham reports

CANOE MINING TO PURCHASE HAMLIN IRON OXIDE COPPER GOLD (IOCG) DEPOSIT - SHEBANDOWAN BELT, THUNDER BAY, ONTARIO

Canoe Mining Ventures Corp. has signed binding letters of intent with Glencore Canada Corp., Rainy Mountain Royalty Corp. and Mega Uranium Ltd. to purchase a 100-per-cent interest in the Hamlin-Deaty Creek property located in the Shebandowan belt, 110 kilometres west of Thunder Bay, Ont.

Duane Parnham, a director of Canoe Mining, stated: "The Hamlin property complements our current holdings and furthers our strategic objective to consolidate the Shebandowan copper-gold belt into a single major mining camp. There are currently unprecedentedly low acquisition costs for metal deposits in Canada and this, together with a trend for major mining companies to divest their exploration and development projects, has enabled Canoe Mining to capitalize on current market factors and acquire a highly prospective project from Glencore. We envision that Canoe will benefit from being well positioned with an excellent copper-gold mining project in the future when markets will potentially recognize a significant increase in this property's valuation and reward Canoe for its efforts to enhance this asset."

Current ownership of the property is held in a joint venture between Glencore, Mega Uranium and Rainy Mountain, where Glencore is the operator and owner of a 51-per-cent interest, with Rainy Mountain and Mega Uranium each holding a 24.5-per-cent interest. The property was initially acquired by East West Resource Corp. (now Rainy Mountain) in 2003 and a partnership was formed with Mega Uranium to explore and develop the property. A total of 58 diamond drill holes were completed by 2006 which traced a 900-metre-long and 100 m wide breccia zone containing copper, gold, silver and molybdenum mineralization. In 2011, Xstrata Copper (now Glencore) earned a 51-per-cent interest by spending $3.0-million in addition to the $1.5-million spent by previous operators. During 2009 to 2011, Xstrata Copper completed 23 drill holes, for a total of 7,763 m, which extended the deposit down to 200 m below surface.

R.S. Middleton, PEng, Canoe Mining's exploration manager, led the team that made the original discovery of the Hamlin deposit and has since sponsored students to complete their thesis work on details of the geology and mineralogy of the property. Mr. Middleton stated: "I am deeply familiar with the Hamlin property and deposit, and know first-hand the potential of this property. Our objective is to build a 60-[million]- to 100-million-tonne copper-gold-silver deposit similar to the producing Mount Polley mine in British Columbia (Imperial Metals) or the Troilus mine near Chibougamau (Inmet now First Quantum)."

Pursuant to the terms of the agreement, and subject to the receipt of all required regulatory and exchange approval, in consideration for the property, Canoe Mining has agreed to make a cash payment of $50,000 to Glencore and grant Glencore a 1-per-cent net-smelter royalty, together with a right of first refusal for an off-take agreement. Additionally, Rainy Mountain and Mega Uranium will each be issued one million common shares of Canoe Mining.

The underlying 2-per-cent NSR held by the original vending prospectors may be purchased by Canoe Mining under the following terms: a 1-per-cent NSR may be purchased at any time for $1.0-million, and Canoe Mining has the first rights of refusal to purchase the remaining 1-per-cent NSR.

This project will be supervised by R.S. Middleton, PEng, who is a qualified person as such term is defined in National Instrument 43-101, and who has reviewed and approved the technical information and data included in this press release.

Iron Lake gold project

Canoe Mining also announces that it issued 125,000 shares to 2099840 Ontario Inc. operating as Emerald Geological Services in April, 2014, pursuant to a continuing option agreement relating to the Iron Lake gold project. Canoe Mining may issue an additional 125,000 shares to Emerald in April, 2015, pursuant to the terms of this option agreement.

We seek Safe Harbor.