Mr. Stephen Wilkinson reports

WPC RESOURCES FILES AMENDED TECHNICAL DISCLOSURE FOR ULU GOLD PROPERTY

Following a review by the British Columbia Securities Commission (BCSC), WPC Resources Inc. has filed an amended technical report, entitled "Technical Report on the Ulu Gold Property, Nunavut, Canada," dated July 10, 2015, for the Ulu gold property. In the amended technical report, there has been no change to the resource estimate originally reported in a news release dated April 14, 2015, and contained in the associated technical report dated May 26, 2015.

The current Ulu mineral resource was estimated by independent consultants using a cut-off value of four grams per tonne gold as shown in the accompanying table.

                                                                Gold       Gold
                                   Gold cut-off      Tonnage   grade  contained
Classification                             (g/t)     (tonnes)   (g/t)       (oz)

Flood zone
Measured                           Greater than
                                            4.0    1,000,000    8.48    272,000
Indicated                          Greater than
                                            4.0    1,500,000    6.90    333,000
Measured and indicated             Greater than
                                            4.0    2,500,000    7.53    605,000

Inferred                           Greater than
                                            4.0      891,000    5.57    160,000
Gnu zone
Inferred                           Greater than
                                            4.0      370,000    5.57     66,000
Total -- Flood and Gnu zones
Measured and indicated             Greater than
                                            4.0    2,500,000    7.53    605,000
Inferred                           Greater than
                                            4.0    1,261,000    5.57    226,000

Notes to the resource estimate

1. 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, socio-political, marketing or other relevant issues.
2. Confidence in the estimate of inferred mineral resources is insufficient to allow the meaningful application of technical and economic parameters. There is no guarantee that all or any part of a mineral resource can or will be converted into a mineral reserve.
3. The mineral resources in this estimate were calculated using the CIM (Canadian Institute of Mining, Metallurgy and Petroleum) standards on mineral resources and reserves, definitions and guidelines, prepared by the CIM standing committee on reserve definitions and adopted by the CIM council.
4. The reliability and accuracy of downhole surveys in 188 of 313 drill holes in the resource area are in question due to their lack of proper measurements. For these holes, the qualified persons have imposed an average demonstrated predictability of drill hole deflection present in holes on the property that do have proper downhole measurements. In the opinion of the qualified persons, this is a more reasonable assumption than assuming straight-line drill holes.
5. The following parameters were used to derive the cut-off: mining costs of $100 per tonne, processing costs of $25 per tonne, and general and administrative costs of $10 per tonne; transporting gravity and flotation concentrate to the Lupin to produce dore with a transport cost of $25 per tonne; a gold price of $1,500 per ounce; process recoveries of 90 per cent; and smelter payables of gold at 96 per cent and refining charges of $12 per ounce of gold.

The amended technical report contains several additions from the May 26, 2015, technical report, including:

• More detailed discussion of the assumptions, parameters and methods used in modelling the Flood zone;
• An explanation of why the resource estimate increased compared with earlier resource estimates;
• "Appendix D: Plan View and Cross-Sections" through Flood zone has been added;
• A correction to comments in the April 14, 2015, news release and May 26, 2015, technical report, which attribute a sizable increase in the resource estimate to extending the depth of the resource when only 0.34 per cent of the total measured and indicated resource tonnage was below the 29 level, the lowest level considered in the 2011 resource estimate, previously the most recent resource estimate;
• Quality control and quality assurance details have been added to Section 11 of the amended technical report to demonstrate the suitability of including drilling done by Elgin Mining in 2011 and 2012 in the resource estimate;
• Additional tables have been provided in Section 10 (drilling) and in Appendix C (total block estimate applying external dilution);
• The Central A zone referenced in the April 14, 2015, news release has now been corrected as the Gnu zone.

Gary Giroux, PEng, of Giroux Consulting Inc., Bob Singh, PGeo, of North Face Software Ltd. and Paul Cowley, PGeo, of Buena Tierra Developments Ltd. are qualified persons as defined in National Instrument 43-101 and were responsible for the preparation of the amended technical report. Mr. Cowley and Mr. Giroux have reviewed and approved the technical content of this news release.

We seek Safe Harbor.