Mr. Nick Tintor reports

ROSITA MINING EARNS 65% INTEREST IN NICARAGUA PROJECT; MANAGEMENT CHANGES ANNOUNCED

Rosita Mining Corp. has received confirmation from Calibre Mining Corp. that the company has completed the expenditure requirements to earn a 65-per-cent interest in the Rosita-D concession in Nicaragua.

This important milestone was achieved following the completion of a 1,939-metre drill program which tested and infilled the extensive surface stockpiles and two priority exploration targets on the property. Assay results from the drill program are expected early in the new year.

The Rosita project is located 275 air kilometres northeast of the capital city of Managua and 120 kilometres west of the port town of Puerto Cabezas.

Program highlights:

• A 1,939-metre reverse circulation drill program has been completed and comprises:
  • 1,040 metres of infill drilling in the surface stockpiles with goals to increase inferred resources;
  • 899 metres of exploration drilling to test the near-surface copper-enriched mineralization on the adjacent R-13/R-13 West and Tipispan copper-gold-silver zones;
  • Independent consultant initiated work on an updated National Instrument 43-101 report including a revised resource estimate which is expected to be completed in the first quarter of 2016.

Santa Rita resource drilling

In May, 2012, Coffey Mining completed a maiden inferred mineral resource for the North, South and East stockpiles around the Santa Rita open-pit mine. This estimate comprises 7.95 million tonnes of inferred mineral resources at an average grade of 0.62 per cent copper, 0.46 gram per tonne gold and 9.2 g/t silver with an overall copper-equivalent grade of 1.01 per cent (see Alder Resources' press release from June 22, 2012). This resource comprises broken mineralized material at surface containing 108 million pounds of copper, 118,500 ounces of gold and 2.35 million ounces of silver.

Mineral resources that are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing or other relevant issues. The quantity and grade of reported inferred mineral resources in this estimation are uncertain in nature, and there has been insufficient exploration to define these inferred mineral resources as indicated or measured mineral resources, and it is uncertain if further exploration will result in upgrading them to indicated or measured mineral resources.

In the recently completed drill campaign, 55 vertical infill drill holes totalling 1,040 metres were completed in the North, South, South West and East stockpiles. These holes were drilled through the base of the stockpile material and range from 12 to 34.5 metres in depth. They were designed to in-fill the stockpile drill density on a spacing of 50 metres or less in order to provide the company with a future opportunity to upgrade the inferred resource to an indicated category and to increase the tonnage of the resource.

Drilling on the East stockpile tested for in situ supergene enrichment below the stockpile on the southern and southwestern edge of the adjacent R-13 and R 13 West zone.

Revised NI 43-101 study

Following the completion of the Santa Rita resource drilling program, the company has engaged an independent geological consultant to prepare an updated NI 43-101 report including a revised resource estimate. This estimate is expected to be completed late in the first quarter of 2016.

R-13 and R-13 West exploration drilling

The company drilled a total of 24 holes totalling 759.5 metres to test the R-13 and R-13 West zones which are situated immediately adjacent to the R13 open pit and to the east of the Santa Rita stockpiles with the goal of verifying historic in situ supergene mineralization contiguous to the company's inferred mineral resource.

Historic drill data indicate the presence of two parallel, near-surface, northwest-oriented, mineralized zones, which are interpreted to be 130 metres by 450 metres and 90 metres by 300 metres in area, respectively. These zones appear to be open along strike and locally to depth. The R13 deposit was also subject to a small open pit in an area where drilling returned unvalidated intercepts up to 2.08 per cent copper over 47.5 metres, and 0.98 per cent copper over 79.9 metres in historic drill holes R-33 and R-40, respectively.

El Rastro exploration drilling

The El Rastro prospect is located one kilometre north of R-13 and R-13 West and is an active centre for artisanal mining where supergene mineralization was observed in an area approximately 300 metres by 100 metres in area. To date, this zone has not received any drilling despite being one of the highest priority target areas to provide potential accretive resources to any future production model centered on the Santa Rita resource.

A recent grab sample from an underground artisanal working at El Rastro returned 1.18 per cent copper, 2.9 g/t gold and 5.2 g/t silver. Two previous grab samples from the artisanal underground workings provided significant assays of 0.56 per cent copper, 114.12 g/t gold and 4.2 g/t silver, and, 0.61 per cent copper, 3.24 g/t gold and 0.6 g/t silver, respectively. This demonstrates that the copper-gold association that was historically mined at the Santa Rita mine, and which is also observed in the company's stockpile inferred resource, is also present at the El Rastro prospect.

Grab samples are selective by nature and the grades assayed may not be representative of mineralization hosted on the property.

Mechanical problems with the drill equipment combined with poor road and access conditions during the rainy season, did not allow the company to complete the planned four-to-six-hole exploration program at El Rastro. El Rastro will be a priority exploration target for the follow-up drill campaigns during the next exploration program.

Tipispan exploration drilling

The company completed four drill holes totalling 139.5 metres on the Tipispan target, which were completed along a fence designed to follow up results from trenching. These trench results included assays of up to 5.21 per cent copper, 4.60 g/t gold and 144 g/t silver over 12 metres.

In 2010, Calibre drilled two holes one of which intersected 0.42 per cent copper and seven g/t silver over 50 metres (BB10-001), and the other intersected 0.13 per cent copper, 0.16 g/t gold and 2.11 g/t silver over 61.9 metres (BB10-002). It is interpreted that these holes intersected porphyry-style copper-gold mineralization below a supergene cap that appears, from historic shafts, to be at least five metres thick.

Management changes

Company president and chief executive officer Craig Pearman tendered his resignation citing personal reasons, which was accepted by Rosita's board of directors, effective immediately.

The board has appointed John Cook, a company director, as interim president and CEO.

"On behalf of the board, I would like to thank Craig for his contributions to the company and for his role in identifying and helping acquire the Rosita project via our merger with Alder Resources earlier this year," Nick Tintor, chairman of Rosita, said.

The technical information included in this update has been reviewed and approved by Mr. Cook, PEng, interim president and CEO of Rosita Mining, and a qualified person, under NI 43-101, Standard of Disclosure for Mineral Projects.

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