Mr. Ian Graham reports

MONTAN MINING ANNOUNCES CONVERSION OF CONVERTIBLE NOTES AND SETTLEMENT OF SHARES FOR DEBT

Montan Mining Corp. has entered into agreements to issue 6,755,580 ordinary shares to settle certain debts owed to various arm's-length and non-arm's-length parties, and certain of its convertible notes are being converted to 2,047,383 ordinary shares in the company. The total number of shares anticipated to be issued is 8,802,963, subject to TSX Venture Exchange approvals.

The company owes accounts payable to parties amenable to receiving shares for debt of $353,347.20 as at March 11, 2015. The shares-for-debt agreement was negotiated at arm's length between the arm's-length parties on Dec. 22, 2015, and the same agreement structure and pricing have been applied to non-arm's-length parties. Although the closing price of the company's common shares on the TSX Venture Exchange on March 11, 2015, was two cents per share, the parties agreed that the shares-for-debt transaction would be completed using a deemed share price of five cents per share. As such, the company will be issuing 6,755,580 common shares in settlement of the above-noted debt, subject to standard TSX-V trading restrictions. The issuance of these common shares is subject to approval from the TSX-V. Non-arm's-length parties will receive 2,542,234 shares, including settlement of a $40,000 loan to the company by a director, and $15,263 in exchange and transfer agent fees and expenses covered by a separate director.

In addition, two holders of the company's convertible note have applied to convert their notes for ordinary shares in the company: the face value of the notes is $216,860.38, and these have been converted at the deemed value of 12.5 cents per ordinary share (refer to news releases of Aug. 25 and 31, 2015) for the issuance of 2,047,383 shares.

We seek Safe Harbor.