WASECO RESOURCES INC. Announces Extension of Non-Brokered Private Placement

TORONTO, ONTARIO--(Marketwired - May 15, 2015) - WASECO RESOURCES INC. (TSX VENTURE:WRI)(FRANKFURT:WSE) ("Waseco" or the "Company") announces the extension of its non-brokered private placement (see March 30^th 2015 Press Release).

The offering is a non brokered private placement (the "Offering") of units at a price of $0.05 per unit consisting of an aggregate of up to 5,000,000 common shares (the "Common Shares"), and 2,500,000 shares purchase warrants (the "Warrants"). Each Warrant will entitle the holder to purchase one common share of the Company at a price of $0.075 per share at any time prior to 12 months from the date of closing of the Offering.

The Offering will be conducted by the Company utilizing the "existing shareholder exemption" as described in Multilateral CSA Notice 45-313 - Prospectus Exemption for Distributions to Existing Security Holders (the "Existing Shareholder Exemption"), as well as exemptions under the "accredited investor" exemption of National Instrument 45-106 - Prospectus and Registration Exemptions ("NI 45-106"), and also other applicable exemptions available to the Company. The Offering will be open to shareholders of record as of May 12^th, 2015 who advise the Company of their intention to participate prior to May 30^th, 2015.

The proceeds received from the Offering will be used to carry out a follow-up drilling program in proximity to the high grade gold discovery on its Battle Mountain Ridge Project, in Nevada and for general working capital purposes.

All securities issued will be subject to a four (4) month hold period from the date of closing. The Offering is subject to the approval of the TSX Venture Exchange.

At closing of the Offering finder's fees of 7% of the proceeds may be payable in cash, and 7% finder warrants which are exercisable at the price of $0.05 per share and expire 12 months from the date of closing of the Offering.

Waseco is an exploration company focused on exploring for gold in Nevada and Kalimantan and for uranium and other minerals in the Quebec Labrador Trough through a joint venture with AREVA Canada Inc. The Company is listed on the TSX Venture Exchange and the Frankfurt Stock Exchange. There are currently approximately 30.6 million shares issued and outstanding.

For further information on the Company, please visit the Company's web site at www.wasecoresources.com.

WASECO RESOURCES INC.

Richard Williams, President & CEO

Neither the TSX Venture Exchange nor its regulatory service providers (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the accuracy or adequacy of this release.

We seek safe harbour.