VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 6, 2013) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Further to the press release of Magnum Capital Corp. (TSX VENTURE:MGK.P) ("Magnum" or the "Corporation") dated September 21, 2012 in relation to the Corporation's proposed Qualifying Transaction, the Corporation has recently received an updated technical report in support of the transaction, which has now been delivered to the TSX Venture Exchange Inc. (the "Exchange") for review and approval. It is anticipated that the contents of this technical report will be incorporated into the Corporation's filing statement providing disclosure in respect of the Qualifying Transaction once approved by the Exchange.

Completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the Qualifying Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Qualifying Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the Qualifying Transaction, any information released or received with respect to the Qualifying Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The Exchange has in no way passed upon the merits of the proposed Qualifying Transaction and has neither approved nor disapproved the contents of this press release.

Trading in shares of the Corporation will remain halted pending filing and review of applicable documents with the Exchange.

Additional Information

In accordance with the policies of the Exchange, Magnum will issue a subsequent press release containing information relating to the Qualifying Transaction to the extent not contained in this press release.

Cautionary Statements

This news release contains certain statements that may be deemed "forward-looking statements" within the meaning of applicable securities laws relating to the proposed Qualifying Transaction. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Corporation believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guaranteed of future performance and actual results and developments may differ materially from those that currently are contemplated, and that the Qualifying Transaction may not be successfully completed for any reason (including the failure to obtain a satisfactory technical report, the required approvals from regulatory authorities or to exercise the Option as is contemplated in the Option Agreement). The statements in this news release are made as of the date of this release. The Corporation undertakes no obligation to update these forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise, except as otherwise required by law.

This news release does not constitute and the subject matter hereof is not an offer to sell or a solicitation of an offer to sell in the United States or to any "U.S. Person" (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act")) of any equity or other securities of the Corporation. The securities of the Corporation have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold in the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.