Mr. Stephen Stow reports

ODIN ANNOUNCES COMPLETION OF PRIVATE PLACEMENT AND SHARES-FOR-DEBT TRANSACTION

Odin Mining and Exploration Ltd. has closed its non-brokered private placement of 95,386,667 common shares for gross proceeds of $5-million, as previously announced in its news release dated June 23, 2014.

Ross Beaty acquired 26,386,667 common shares under the offering at a price of 5.2418227 U.S. cents per common share, representing 22.1 per cent of Odin's outstanding common shares following completion of the offering. Accordingly, Mr. Beaty became a control person, as defined under the policies of the TSX Venture Exchange. Pursuant to the policies of the TSX-V, Odin obtained the approval of the creation of a new control person by the written consent of shareholders holding more than 50 per cent of Odin's outstanding common shares prior to completion of the offering.

Concurrently with closing of the offering, Odin completed its shares-for-debt transaction as previously announced in its news release dated June 23, 2014. In consideration for settlement of a total combined debt of $236,555.62 owing to five creditors, Odin issued to the creditors a total of 4,205,433 common shares at a conversion price per share equal to the per share price of the offering.

Following completion of the offering, Levi Giesbrecht, Mauricio Ledesma and Daniel Noone resigned as directors of the company and were replaced by Donald Shumka, Lyle Braaten, Marshall Koval and Michael Steinmann. Mr. Koval was appointed as Odin's new chief executive officer, Martin Rip was appointed chief financial officer, Mr. Braaten was appointed vice-president of legal counsel and Leo Hathaway was appointed vice-president of exploration.

Stephen Stow is continuing in his role as a director of the company, and Mr. Ledesma is continuing in his role as a consultant to the company.