Mr. Christopher Reynolds reports

GOLCAP RESOURCES ANNOUNCES PRIVATE PLACEMENT OF UP TO $427,500 OF FLOW THROUGH SHARES

Golcap Resources Corp. has arranged a non-brokered private placement of up to 1.5 million flow-through common shares at a price of 28.5 cents per FT share for gross proceeds of up to $427,500.

The gross proceeds received by the company from the offering will be used to incur eligible Canadian exploration expenses that are flow-through mining expenditures (as such term is defined in the Income Tax Act (Canada)) related to the company's Quebec-based mining projects.

Finders' fees may be payable in accordance with the policies of the Canadian Securities Exchange, and all securities issued under the offering will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws. Completion of the offering remains subject to any required regulatory approvals.