Mr. Ian Graham reports

MONTAN MINING CORP. CLOSES UNIT PRIVATE PLACEMENT, ANNOUNCES CONVERTIBLE NOTE PLACEMENT

Montan Mining Corp. has closed its unit private placement announced on June 11, 2015. The company issued 2,947,778 units at a price of 18 cents per unit for gross proceeds of $530,600.04. Each unit consists of one common share and one-half of one non-transferable share purchase warrant, with each warrant entitling the holder thereof to acquire one additional common share of the company for a period of two years from the date of issuance at an exercise price of 25 cents per warrant share.

Other details of the private placement were announced in the company's news release of July 6, 2015.

The company also announces that it has arranged for a convertible note private placement of up to $1-million in convertible notes. Each note accrues simple interest at 14 per cent per year, which has been prepaid until maturity, being one year from issuance. The principal amount of each note is convertible at any time at a price of 12.5 cents into units of the company comprising one common share and one common share purchase warrant. Each whole warrant may be exercised at an exercise price of 17.5 cents into one additional common share of the company for a period of two years from closing of the note financing. The securities issued will be subject to a four-month-and-one-day hold period.

Finders' fees may be payable in connection with the convertible note financing, and the financing is subject to TSX Venture Exchange approval.

The proceeds of the offering will be used to advance the company's operations at the Mollehuaca gold processing plant in anticipation of its acquisition, as announced by the company on June 11, 2015, and for working capital.