Dr. Simon Ingram reports

RESERVOIR MINERALS COMPLETES DRILLING PROGRAM AT BOBIJA ZINC-LEAD-SILVER-GOLD PROJECT

Reservoir Minerals Inc. has released final results from the 622.9-metre drill program recently completed at its Bobija project in Serbia. Results include intercepts of 15.10 metres (from two to 17.1 metres downhole, approximately 8.25 m true thickness) through massive sulphide mineralization averaging 4.73 per cent zinc, 4.23 per cent lead, 122.14 grams per tonne silver and 1.91 g/t gold in hole BB-07. Other high-grade intercepts through massive sulphide mineralization were reported in news release dated Sept. 29, 2014.

Dr. Simon Ingram, president and chief executive officer of Reservoir Minerals, commented: "The latest results from the initial drilling campaign are very encouraging and confirm the company's model based on historical exploration data, as well as new information on the relatively high silver and gold contents. There is excellent potential for further discovery within the company's exploration permit, and the results of the ongoing gravity survey should provide new and reliable targets for drilling in the area. The geological data from the drilling campaign is being carefully evaluated and will be included in a new model of the mineralization."

Background

The Bobija exploration permit is held by BEM doo, an indirectly held wholly owned Serbian subsidiary of the company. The permit covers an area of 46.59 square kilometres and the permit surrounds the Bobija barite deposit.

Company geologists consider that the zinc-lead-silver sulphide and barite mineralization at Bobija is sedimentary exhalative (SEDEX) in type. Many of the world's largest zinc-lead deposits are SEDEX type, including Red Dog (Alaska), Isa-Hilton (Australia), Rammelsberg (Germany) and Sullivan (Canada).

Agreement with the Barite Mining Company

On March 5, 2014, the company executed an agreement with the owners of the barite mine Akcionarsko Drustvo Bobija (ADB), a joint stock company registered in Serbia, granting the company exclusive rights to conduct mineral exploration within the Bobija mining concession for an initial payment of 50,000 euros and subsequent annual payments of 12,000 euros until the completion of a feasibility study and conclusion of a joint venture agreement for exploitation. Maps showing the location of the mining concession perimeter are presented on the company's website.

Drilling program

This summer's drilling campaign of eight short diamond drill holes (total 622.9 metres) was designed to validate the presence of sulphide mineralization recorded in the historical drill holes and workings, and test for extensions of mineralization from the zones identified in the historical data.

Maps showing the location of drill holes reported, strip logs and drill sections are presented on the company's website.

Assay results of significant intercepts are presented in the table, including results from BB-02, BB-03 and BB-06 that were reported in a news release dated Sept. 29, 2014. All holes intersected sulphide-barite mineralization within the target succession of hangingwall cherts and tuffs, and footwall marls, sandstones and limestones. The mineralization occurs as brecciated massive sulphide-barite and veins in strongly silicified and brecciated limestone and clastic sedimentary rocks.

   SIGNIFICANT INTERCEPTS IN THE DRILL HOLES, BOBIJA EXPLORATION PERMIT                                  
                                                                            
                                       Estimated                            
                                            true                            
Drill hole      From      To  Interval thickness     Zn     Pb     Ag     Au
                  (m)     (m)       (m)       (m)    (%)    (%)  (g/t)  (g/t)

BB-02           19.5    64.7      45.2(i)  30.20   2.26   0.87  25.52   1.71
  including     20.6    41.8      21.2(i)  14.17   3.08   1.08  42.75   2.31
BB-03           47.0    66.0      19.0(i)  10.55   3.47   1.00  41.21   1.64
  including     53.1    62.5       9.4(i)   6.84   4.37   1.31  46.78   1.82
BB-04           36.5    52.5      16.0(i)   9.82   2.29   1.98  83.41   1.58
BB-06           22.6    34.3      11.7(i)  10.43   3.01   2.71  81.76   1.56
                24.6    32.5       7.9(i)   7.05   3.93   3.67 108.96   1.89
BB-07            2.0    17.1      15.1(i)   8.25   4.73   4.23 122.14   1.91
BB-09           59.2    61.2       2.0(i)   1.69   0.39   0.48   29.0   1.19           
                64.1    69.1       5.0(ii)  4.23   4.92   0.20    0.5   0.02
BB-10           50.0    52.5       2.5      2.26   0.40   0.24  16.56   0.47

Drill intervals are apparent thicknesses. True thicknesses have been 
estimated from the company's 3-D model of the mineralization.                
(i) Massive-sulphide and barite mineralization.                              
(ii) Footwall sulphide mineralization.                                     

Drill holes BB-02, BB-03, BB-04, BB-06 and BB-07 were validation holes and indicate that there is an excellent correlation with the historic drilling data. The mineralized intersections are generally longer than expected, and the zinc and lead grades are comparable. Gold and, for the most part, silver analyses were not in the historical data and the high values for gold confirm the results obtained previously by the company's limited surface sampling.

Drill holes BB-04, BB-06, BB-07, BB-09 and BB-10 intersected mineralization in the company's exploration permit and confirm that the mineralization extends from the mining concession into the company's permit.

BB-09 intersected the footwall mineralization beneath a weakly developed massive sulphide zone. The footwall mineralization was not recognized in the historical work, but can yield significant lead and zinc grades, although the silver and gold values are generally lower than in the massive sulphide zone.

The intercept reported in the table for drill hole BB-10 is from a fault zone containing fragments of barite and massive sulphide that are presumed to be from the stratiform massive sulphide mineralization zone intercepted in the other holes. This intercept implies continuity between two massive sulphide bodies interpreted from the historical data.

A gravimetric survey is currently continuing, and detailed geological mapping has been completed. The possibilities for further exploration in the mine area, and progress toward an initial resource estimate, are being evaluated.

Quality assurance and quality control

Drill hole orientations were surveyed at approximately 50-metre intervals. Core recovery through the reported intervals was generally 100 per cent. Company personnel monitored the drilling, with cores delivered daily to a core storage facility near the Bobija barite processing plant, where it was logged. The core was cut and sampled at the company's sample preparation facility in Belgrade in accordance with the company's protocols that are compatible with accepted industry procedures and best practice standards. Samples through the mineralized intervals were from core intervals 0.5 to a maximum two metres. The samples were crushed to less than two millimetres at the company's sample preparation facility in Belgrade.

The crushed samples were submitted to ALS Minerals facilities in Bor, Serbia, for pulverizing and analysis for gold by fire assay at the ALS Minerals laboratory in Rosia Montana, Romania, and by multielement ICP at the ALS Minerals laboratory in Loughrea, Ireland. In addition to the laboratory's internal QA/QC procedures, the company conducted its own QA/QC with the systematic inclusion of certified reference materials, blank samples and field duplicate samples. The analytical results from the company's quality control samples have been evaluated and demonstrated to conform to best practice standards.

Qualified person:

Dr. Duncan Large, chartered engineer (United Kingdom), EurGeol, a qualified person under National Instrument 43-101 and a consultant to the company, has approved the technical disclosure in this release and verified the data disclosed.