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File: News Release Sept 30'15 - PPClosing and Board Changes (00377370-4x9DEBD).docx

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VELOCITY MINERALS COMPLETES PRIVATE PLACEMENT
AND ANNOUNCES BOARD CHANGES
 
Vancouver, BC - September 30, 2015 - Velocity Minerals Ltd. (the "Company") (TSXV / NEX: VLC.H)

Further to its news release dated August 5, 2015, the Company announces that it has closed its non-brokered private pl
--->acement and issued 12,000,000 common shares of the Company (the "Shares") at a price of $0.005 per Share, for gross pr
--->oceeds of CDN $60,000.  The Shares are subject to a regulatory hold period of four months and a day in accordance with
---> the rules and policies of the TSX Venture Exchange and applicable Canadian securities laws. 

The Company confirms it has scheduled an annual and special meeting of its shareholders for November 9, 2015 at which 
--->it will be seeking shareholder approval to adopt new Articles which will allow it to implement a consolidation of its 
--->outstanding common shares on a 10:1 basis.

The Company announces that effective September 29, 2015, S. Gerald Diakow has resigned as a director, President and CE
--->O of the Company.  The Company is pleased to announce the appointment of Paul Larkin to its Board, and that Mr. Larkin
---> has been appointed as CEO of the Company.  For the past 32 years, Mr. Larkin has been the President of the New Dawn G
--->roup, an investment and financial consulting firm located in Vancouver, British Columbia, and a Director and/or Office
--->r of various TSX, NYSE, and TSX Venture Exchange listed companies. New Dawn is primarily involved in corporate finance
--->, merchant banking and administrative management of public companies.  He is currently founder, Director and Chairman 
--->of the Audit committee of US. Geothermal Inc. (HTM: NYSE MKT and GTH: TSX), a leading renewable energy company that is
---> operating and developing geothermal power projects in Oregon, Nevada, Idaho and Guatemala.  Mr. Larkin was an investm
--->ent banker before founding New Dawn in 1983.

The Company's Board is now comprised of: Paul Larkin (CEO, Director), D. Barry Lee (CFO, Secretary, Director), and Joe
---> Martin.

On behalf of the Board of Directors,
D. Barry Lee, CFO, Director
Telephone:  (604) 689-7411 
www.velocityminerals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX 
--->Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.