Mr. Stephen Stewart reports

ORECAP COMPLETES OWNERSHIP CONSOLIDATION AT MCGARRY PROJECT

Orecap Invest Corp. has closed its previously announced consolidation of its ownership position on certain land tenure within its McGarry project, located in Virginiatown, Ont. Orecap now owns 100% of all the tenure comprising McGarry, subject to existing royalties.

McGarry is a strategic asset with significant upside and infrastructure

McGarry encompasses 2.4 kilometres of the prolific Cadillac-Larder Lake break (CLLB), and encompasses 681 hectares, comprising 46 patented mining claims and five mining licences, now 100 per cent owned by Orecap. McGarry hosts a historical National Instrument 43-101 indicated resource of 447,000 grading 8.57 grams per tonne gold (123,000 ounces), and an inferred resource of 157,000 grading 5.83 grams per tonne gold (30,000 ounces). McGarry also hosts the historical Kerr Addison mine tailings.

McGarry was in production as recently as 2013 from significant underground workings, where it also saw underground exploration. Significant capital was spent upgrading McGarry's infrastructure, including the shaft, hoist and on-site facilities necessary for an underground mine. Furthermore, historical underground exploration yielded high-grade results across multiple zones, including the Kerr zone, located outside of the project's resource estimate.

McGarry central to regional consolidation strategy

McGarry is located adjacent to Gold Candle Ltd.'s Kerr Addison project, led by Pierre Lassonde (chairman) and Rick Howes (chief executive officer), and Agnico Eagle's Upper Beaver project. McGarry's resource and infrastructure in place underscore the project's importance in any regional consolidation strategy. McGarry's existing infrastructure, notably the shaft, which extends to 2,290 feet below surface, provides for a less expensive, accelerated timeline to access potential underground resources.

McGarry property hosts historic Kerr Addison tailings

Kerr Addison historically produced 11 million ounces at nine grams per tonne gold. Tailings from the historic Kerr Addison operation, estimated to cover 73 hectares, which represent over one million tonnes per vertical metre, are situated within the McGarry property limit. While definitive tonnage and grade data have not been established, historical documentation suggests potential presence of residual gold within the tailings. In line with Ontario's simplified permitting process for recovering metals and minerals from mine waste at operating, closed or abandoned sites, Orecap will seek to evaluate the existence and, if applicable, the quantity and potential economics of extracting minerals from the Kerr Addison tailings.

Transaction details

Orecap acquired the remaining 25 per cent of certain McGarry tenure to consolidate its 100-per-cent ownership of McGarry for $50,000 payable in cash and $50,000 in Orecap shares, totalling 620,498 shares, calculated using the preceding 10-trading-day volume-weighted average price (VWAP) of Orecap shares (8.058 cents per share) as of the date of the agreement.

Qualified person statement

The technical information contained in this news release has been reviewed and approved by Charles Beaudry, PGeo, Geo, director of Orecap Invest, a qualified person, as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."

Disclosure regarding historical resources

As at the date of this news release, a qualified person has not completed sufficient work to classify the McGarry historical mineral resources estimate as current mineral resources or mineral reserves in accordance with NI 43-101 and Orecap is not treating the historical estimate above as current mineral resources.

About Orecap Invest Corp.

Orecap seeks special-situation investments in the natural resource sector that offer shareholders diverse exposure to high returns on precious and critical metal assets and businesses. Orecap has significant equity positions in portfolio companies, such as American Eagle Gold, XXIX Metal Corp., Mistango and Awale Resources, in addition to owning a broad portfolio of land packages focused on gold, copper and zinc. Agnico Eagle Mines Ltd. is a 9.9-per-cent shareholder.

We seek Safe Harbor.