Mr. George Brown reports

MACMILLAN MINERALS ISSUES CORPORATE UPDATE

MacMillan Minerals Inc. is providing the following corporate update.

The company held its annual and special meeting of shareholders on Tuesday, March 31, 2015.

George A. Brown, William J. Danis, Joseph Del Campo and Thomas Skimming were re-elected to serve as directors until the next annual meeting of shareholders.

McGovern, Hurley, Cunningham LLP was reappointed as auditor for the company.

The existing 10-per-cent rolling stock option plan was reapproved subject to any existing stock option grants being cancelled if any share consolidation is implemented.

A resolution was passed authorizing the company to take all steps necessary to consolidate the common shares of the company on the basis of one new share for between each five and each 10 old common shares with the effective date of the share consolidation and the final ratio of the share consolidation to be determined by the directors of the company, and any existing stock option grants are to be cancelled on the effective date of any share consolidation. Not withstanding the passing of this resolution, the directors are authorized to revoke this resolution at any time prior to the resolution becoming effective. Please note that previous share consolidation resolutions which were approved at the March 28, 2013, and at the March 31, 2014, shareholder meetings were revoked without ever being implemented by the company.

A resolution was passed authorizing the company to complete one or more financings with up to 20 per cent of the issued and outstanding shares of the company being issued to any one party which may result in a potential change of control, as defined by the TSX Venture Exchange, when combined with any warrants issued in the financing, or when combined with any shares or warrants owned by that party prior to the financing.

Subsequent to the annual and special meeting, the following officers were reappointed:

• Thomas Skimming, PGeo -- chief executive officer;
• George A. Brown -- president;
• Carmen Yuen, CPA -- chief financial officer and secretary.