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File: Reliance News Release 01.06.16 Final for Issuance.docx




Reliance Resources Limited
1500 - 409 Granville Street Vancouver, British Columbia Canada, V6C 1T2
Reliance Resources Enters Joint Venture on Highly Prospective Precious Metals Project in Nevada 

First step in transforming Reliance into a vertically integrated precious metals business focused on the Americas 

JV gives Reliance access to an area within a belt of gold and silver deposits that have produced 25 million ounces of 
--->gold (see source below)

Low cost entry to RI - US$2.6 million staged earn-in by funding project development activities to earn an 80% interest
---> 

Additional project opportunities being assessed across the Americas

Board in advanced discussions with multiple parties to provide growth funding 


Vancouver, B.C., January 5, 2016: Reliance Resources Limited (TSXV: RI) ("Reliance") or ("the Company") is pleased to 
--->announce that it has entered into a joint venture to explore and develop a previously drilled gold and silver project 
--->in the state of Nevada, USA. The project lies in a prolific belt of gold and silver deposits that historically have pr
--->oduced in excess of 25 million ounces of gold.  (Source:  Highlands Geoscience Summary Geological Report, October, 201
--->5, submitted to Reliance Resources.) The Company believes that the property's historical resources can be upgraded to 
--->43-101 standards, to be followed by a pre-feasibility study. The property is prospective for a modern open-pit operati
--->on with heap-leach processing. The deposit shows very good potential for expansion both laterally and at depth.


The plans for the property include staking additional claims, compiling all project data into modern software packages
--->, performing a drill program to verify the historical results and upgrade the resource to 43-101 standards, completing
---> a new resource calculation, and undertaking a pre-feasibility study. Reliance's intent is to move the deposit toward 
--->production as quickly as possible.  
Since the project is surrounded by additional attractive ground open for staking new claims, details as to its locatio
--->n will remain temporarily confidential for competitive reasons pending the completion of the staking process.
Reliance can acquire 80% of the project in a low-cost earn-in joint-venture structured under the following terms:
Reliance to earn 50% of the project by spending USD$1 million, of which $500,000 plus the property holding costs are t
--->o be spent within 12 months of signing the agreement.
Reliance to earn an additional 30% of the project by spending an additional $1.6 million within 36 months of signing t
--->he agreement.
During the 60-day due-diligence period, Reliance to pay the vendor $30,000, of which $25,000 has been paid.
At the conclusion of due diligence, Reliance to issue 1 million shares to the vendor; and issue an additional 1 millio
--->n shares if the project attains a certain NPV milestone in the planned pre-feasibility study.
Reliance will be the Operator of the project and will be required to raise funds either through debt or equity.  The p
--->roject is in keeping with Reliance's plans to find and acquire projects in locations favorable to mining development w
--->hich have the potential for rapid development with low capital and operating cost characteristics, and which can attra
--->ct capital for ongoing development efforts.  The company is in advanced discussions with a number of potential investo
--->rs interested in funding Reliance's project development activities. 
Reliance's Chairman George Young commented: "Reliance is committed to creating a vertically integrated precious metals
---> company focused on the Americas, and this joint venture represents just the first step in building such a company. 
"We believe now is the right time in the cycle to strengthen our portfolio with many project opportunities being funda
--->mentally undervalued. We look forward to updating shareholders on additional opportunities that we are currently asses
--->sing, and providing further information on this joint venture."



On behalf of the Board of Directors of Reliance

George S. Young
Chairman, CEO and Director

For further Information please contact:

George S. Young at (806) 886- 3317
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the 
--->TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-look
--->ing information") within the meaning of applicable securities laws.  Forward-looking information is generally identifi
--->able by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could", "estimates", "expects"
--->, "forecasts", "projects" and similar expressions, and the negative of such expressions.  Forward-looking information 
--->in this news release include statements about the option and joint venture transaction, financing requirements and the
---> Company's future plans, objectives and business strategy.  
In connection with the forward-looking information contained in this news release, the Company has made numerous assum
--->ptions, regarding, among other things, the assumption that the parties will complete the principal conditions for comp
--->letion of the transaction, including but not limited to the receipt of necessary shareholder and regulatory approvals;
---> and the assumption the Company will continue as a going concern and will continue to be able to access the capital re
--->quired to exercise the option and advance its projects and continue operations.  While the Company considers these ass
--->umptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.  I
--->n addition, there are known and unknown risk factors which could cause the Company's actual results, performance or ac
--->hievements to be materially different from any future results, performance or achievements expressed or implied by the
---> forward-looking information contained herein.  Known risk factors include, among others: the inability of the Company
---> to complete the transaction and exercise the option; the possibility that the necessary funds cannot be raised; and t
--->he possibility that the Company may not be able to continue as a going concern in the near term.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disc
--->laims any obligation to revise or update any such forward-looking information or to publicly announce the result of an
--->y revisions to any of the forward-looking information contained herein to reflect future results, events or developmen
--->ts, except as required by law.