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File: News Release - Dec 21 - Results of AGM) (00652459x9DEBD).docx

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VELOCITY MINERALS 
ANNOUNCES RESULTS OF ANNUAL GENERAL MEETING
 
Vancouver, BC - December 22, 2016 - Velocity Minerals Ltd. (the "Company") (TSXV / NEX: VLC.H)

At the Company's annual general meeting held December 21, 2016, shareholders approved the following items:

1. Election of Directors - Each of Paul Larkin, Joseph Martin and Jonathan Younie, management's nominees were re-elect
--->ed as directors, and Jeffrey B. Lightfoot was elected as a new director.  The Company's Board is now comprised of: Pau
--->l Larkin (CEO), Jonathan L. Younie, Joseph Martin and Jeffrey B. Lightfoot. 
 
2. Re-appointment of Auditor - De Visser Gray LLP, Chartered Professional Accountants, were re-appointed as auditor fo
--->r the Company for the ensuing year.

3. Audited Financial Statements for the Fiscal Year Ended June 30, 2016 - The Company's audited financial statements f
--->or its most recently completed fiscal year were approved.  

4. Stock Option Plan - The Company's 10% rolling stock option plan was ratified and approved.

On behalf of the Board of Directors,
Paul A. Larkin
CEO

Telephone:  (604) 687-7767

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.