Rockcliff Drills New Copper Discovery at Talbot, RPA Commences NI43-101 Resource Estimate on the Historical Talbot Deposit, 7,500m Drill Program Planned for 2016

 

 TORONTO, Ontario – Rockcliff Copper Corporation (“Rockcliff“ or the “Company”) (TSX.V: RCU) is pleased to announce a new copper discovery, the identification of a high grade copper corridor within the historic Talbot Deposit and an extension of the Talbot Deposit-north lens. The Company has now successfully completed its first phase 5,065m-10 hole drill program at its Talbot Property located in central Manitoba. Based on the success of historical drilling and Rockcliff’s first phase drill program, Roscoe Postle and Associates (RPA) has been commissioned to complete a NI 43-101 Resource Estimate on the historic high grade Talbot Deposit. Rockcliff further announces plans for a 7,500m drill program at the Snow Lake Project in 2016 that will include drilling at its Talbot and Rail properties. 

The underlying table outlines significant mineralization identified in the Company’s first phase drill program on the Talbot Property. TB-001 was previously announced in a press release dated September 23, 2015.

 

 TB-003, 04, 05 and 010 intersected anomalous VMS mineralization, (m) = metres represents down the hole thickness as true thickness has not been determined, % = percentage, g/t = grams per tonne, nsv = no significant values. *Copper Equivalent used US$2.5/pound copper, US1100/ounce gold, US$0.80/pound zinc and US$15/ounce silver, 100% metal recoveries were applied. Copper Equivalent calculation is: CuEq = Cu grade + (Zn grade%/100*2000 x Zn price) + (Au grade/32.15 x Au price) + (Ag grade/32.15 x Ag price)/Cu price/20. 

Please view the updated power point presentation at www.rockcliffcoppercorp.com for additional information and highlights of the first phase drill program including planned drilling for 2016. 

Rockcliff’s 2015 fall drill program included 10 holes totalling 5,065m, led to the discovery of the North Copper Zone, a copper rich zone located 2.5km north of the Talbot Deposit. The North Copper Zone and nearby geophysical anomalies now represents the second known area on the property associated with significant copper bearing mineralization. Additionally, the program identified a strongly conductive, high grade copper corridor within the Talbot Deposit-main lens and also identified an extension of the Talbot Deposit-north lens associated with a large conductive anomaly. As a result of the successful drill program and historic drill results at the historic Talbot Deposit, Rockcliff has commissioned RPA to complete an independent NI43-101 Resource Estimate on the historic Talbot Deposit. 

NORTH COPPER ZONE DISCOVERY: 

Rockcliff’s first phase drill program discovered a Volcanogenic Massive Sulphide (VMS) Zone in drill hole TB-009, graded 1.5% CuEq (1.4% copper and 3.9g/t silver) across a down the hole thickness of 3.66m. Termed the North Copper Zone, mineralization consisted of local stringer to semi-massive to net texture pyrrhotite and chalcopyrite that extended locally into VMS altered hangingwall and footwall rocks. Down-hole geophysical surveys indicated that the copper mineralization intersected in TB-009 is located at the top edge of an untested, large, more conductive anomaly measuring 150m along strike by 350m down dip. The North Copper Zone is located approximately 2.5km north of the Talbot Deposit within an underexplored, one (1) km long airborne anomaly. Additional drilling in 2016 will be required to determine the extent and significance of this new discovery. 

TALBOT DEPOSIT MAIN LENS-NEW HIGH GRADE COPPER CORRIDOR IDENTIFIED: 

High grade VMS mineralization associated within the Talbot Deposit-main lens was identified in Rockcliff’s drill hole TB-001 where a high grade drill intercept graded 14.4% CuEq (6.1% copper 8.2g/t gold, 5.0% zinc and 112.1g/t silver) across a down the hole thickness of 9.13m (previously announced on September 23) was intersected. Down-hole geophysics identified a strong conductive anomaly measuring 50m along strike and 500m down dip in the central area of the deposit where the anomaly was also intersected by two (2) historic holes. Historic drill hole’s TLS-006 intersected 9.1% CuEq* (5.2% copper, 3.2g/t gold, 3.6% zinc and 53.1g/t silver) across a down the hole thickness of 2.94m and drill hole TSL-020 intersected 16.5% CuEq* (9.0% copper, 7.9g/t gold, 2.5% zinc and 132.9g/t silver) across a down the hole thickness of 12.35m. Additional drilling in 2016 along this newly identified high grade copper corridor could significantly add to the economic viability of the Talbot Deposit. 

TALBOT DEPOSIT NORTH LENS-NEW EXTENSION NORTH OF DEPOSIT IDENTIFIED: 

Rockcliff’s drilling has identified a 75m extension of the Talbot Deposit-north lens, along strike to the north in drill hole TB-006 which graded 2.7% CuEq (1.1% copper, 1.0g/t gold, 2.0% zinc and 24.2g/t silver) across a down the hole thickness of 5.65m. Down-hole geophysics in TB-006 indicated that the deposit extension drill intercept is located at the south end of an untested north trending anomaly measuring 300m along strike x 150m down dip. Additional drilling in 2016 will identify the significance of this large untested anomaly along strike of the Talbot Deposit-north lens. 

RPA COMMISSIONED TO COMPLETE NI43-101 RESOURCE ESTIMATE: 

As a result of the historic drilling and Rockcliff’s successful first phase drill program, the company commissioned RPA to complete a NI43-101 Resource Estimate on the historic Talbot Deposit. The report is expected to be completed the first quarter of 2016 or earlier. 

ROCKCLIFF PLANS 7,500M DRILL PROGRAM FOR 2016: 

Rockcliff is pleased to announce that a second phase 7,500m drill program is planned for 2016 on several of the company’s properties within the Flin Flon-Snow Lake greenstone belt. Priority will be on the Talbot Property where a second phase drill program will follow-up on the encouraging results identified in 2015. The Talbot drill program will focus on expanding the Talbot deposit in grade and size, determining the significance of the North Copper Zone Discovery at the North Target and drill test the Central Target (located just south of the Talbot Deposit) where a significant untested ZTEM airborne anomaly was identified by HudBay Minerals in prior exploration programs. Additional drilling will be at the Rail Property following drilling at Talbot. 

Please view the updated power point presentation at www.rockcliffcoppercorp.com for additional information and highlights of the first phase drill program including the down-hole geophysics completed in this program and planned drilling for 2016. Technical information of Rockcliff’s First Phase Drill Program are outlined below.

Samples of half core are packaged and shipped directly from Rockcliff’s field office to TSL Laboratories (TSL), Saskatoon, Saskatchewan. TSL is a Canadian assay laboratory and is accredited under ISO/IEC 17025. Each bagged core sample is dried, crushed to 70% passing 10 mesh and a 250g pulp is pulverized to 95% passing 150 mesh for assaying. A 0.5g cut is taken from each pulp for base metal analysis and leached in a multi acid (total) digestion and then analyzed for copper, lead, zinc and silver by atomic absorption. Gold concentrations are determined by fire assay using a 30g charge followed by fire assay gravimetric an atomic absorption finish. Samples greater than an upper detection limit (3000 ppb) are reanalyzed using a 1 AT charge. Rockcliff inserted certified blanks and standards in the sample stream to ensure lab integrity. 

Rockcliff can earn a 51% interest in the Talbot Property from Hudson Bay Exploration and Development Company Limited (HBED), a wholly owned subsidiary of Hudbay Minerals Inc. by spending $6,120,000 on exploration expenditures over six (6) years. The first and second year expenditure commitments are $200K (completed) and $400K (completed) respectively with escalating expenditure commitments over the remaining years. The agreement provides that once Rockcliff has earned its 51% interest in the Talbot Property, Rockcliff (51%) and Hudbay (49%) will form a joint venture and Rockcliff will be the Operator of the joint venture. Provided Hudbay contributes its pro rata (49%) share of expenditures under the joint venture, it will have two (2) years from the date Rockcliff earns its 51% interest to purchase an additional 2% interest for a cash payment of $240,000 and either incurring expenditures over a two (2) year period equivalent to 2% of the joint venture expenditures made since the formation of the joint venture or paying such amount to Rockcliff in cash. If Hudbay acquires the additional 2%, it will become the Operator of the joint venture. Once a positive Feasibility Study has been completed and mining development has commenced, the Operator can increase its interest in the Talbot Property to 65% by paying the other participant a cash payment equal to the pro rata share of expenditures made by the other participant to reduce it to a 35% interest. The Operator would then fund the costs of development and will be reimbursed for 100% of the development costs including the 35% interest of the non-operator. Once the costs of development have been repaid, the parties will be reimbursed their pro rata share of expenditures made prior to the date development commences before net profits are distributed pro rata (please see Press Release dated April 23, 2014 and filed on SEDAR under Rockcliff Resources for additional information). 

About Rockcliff Copper Corporation 

Rockcliff Copper Corporation is a Canadian resource exploration company focused on discovery and resource expansion of its high-quality mineral properties at its Snow Lake Project. On October 14, 2015, Rockcliff Copper Corporation changed its name from Solvista Gold Corporation (Solvista on June 18, 2015, merged with Canadian explorer Rockcliff Resources Inc.). Rockcliff Copper Corporation controls the Snow Lake Project in central Manitoba, totalling in excess of 35,000 hectares. The project includes one (1) VMS high grade copper rich NI 43-101 Resource (the Rail Deposit), two (2) historic high grade VMS copper deposits (the Lon Deposit and the Talbot), a net smelter return royalty on the Tower Property which hosts the T-1 Copper Deposit, numerous properties with untested geophysical anomalies and several additional properties with VMS potential ((Freebeth (optioned to HudBay), Dickstone North and Tramping)). Rockcliff also owns a zinc-silver rich NI 43-101 Resource (the Shihan Deposit) in Ontario. Rockcliff controls two gold properties; the Caramanta and Guadalupe properties located in Colombia, South America. 

Rockcliff is well funded and has no debt. 

Ken Lapierre P.Geo., President and CEO of Rockcliff., a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this press release. 

For further information, please contact: 

Rockcliff Copper Corporation 

Ken Lapierre, P.Geo 

President & CEO 

tel. (416) 644-1752; cell (647) 678-3879 

klapierre@rockcliffcoppercorp.com 

Cautionary Note Regarding Forward-Looking Statements: This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe Rockcliff’s future plans, objectives or goals, including words to the effect that Rockcliff or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Rockcliff, Rockcliff provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Rockcliff’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in Rockcliff’s public documents filed on SEDAR. Although Rockcliff believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Rockcliff disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. 

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


Solvista Gold Announces Name Change and Shareholder Meeting Results

TORONTO, OntarioSolvista Gold Corporation (“Solvista”or the “Company”) (TSX.V: SVV, OTCQX: SVVZF) announces that further to its news release dated September 8, 2015, the TSX Venture Exchange has approved the change of name (the “Name Change”) of the Company from “Solvista Gold Corporation” to “Rockcliff Copper Corporation”. The Name Change will become effective at the opening of the market on October 21, 2015 under the new symbol “RCU”. The CUSIP number assigned to the Company's shares following the Name Change is 77288Q103. The Company understands that in certain cases a change in CUSIP number may cause a temporary interruption in electronic trading in the United States of America and/or the exit by the Depository Trust Company from a position in the Company’s common shares. Any United States’ shareholders that are concerned with the interruption of electronic trading following the effective time of the Company’s new CUSIP number are encouraged to contact their broker.

The Company is also pleased to announce that all items of business listed in the management information circular of the Company dated September 2, 2015 for the 2015 Annual and Special Meeting of Shareholders (the “Shareholders”) of the Company were approved, including the election of the following nominees as directors of the Company: Donald H. Christie, Gerald P. McCarvill, G. Edmund King, R. Bruce Durham, Kenneth Lapierre and William Johnstone.

Shareholders further approved: (i) a consolidation (the “Consolidation”) of the Company’s issued and outstanding common shares on an up to one (1) (new) for five (5) (old) basis; (ii) the Company’s incentive stock option plan; and (iii) the appointment of McGovern, Hurley, Cunningham, LLP, Chartered Accountants, as auditors of the Company for the upcoming fiscal year. Notwithstanding approval of the Consolidation by the Shareholders, the board of directors of the Company, in its sole discretion, may revoke the resolution approving the Consolidation and abandon the Consolidation without further approval, action by, or prior notice to Shareholders. Although the Company has no immediate plans to implement the Consolidation at this time, it will notify Shareholders if it decides to proceed.

About Solvista Gold Corporation
Solvista Gold Corporation is a Canadian resource exploration company focused on discovery and resource expansion of its high-quality mineral properties at its Snow Lake Project. On June 18, 2015, Solvista merged with Canadian explorer Rockcliff Resource Inc. Solvista now controls the Snow Lake Project in central Manitoba, totalling in excess of 35,000 hectares. The project includes one (1) VMS high grade copper rich NI 43-101 Resource (Rail), two (2) historic high grade VMS copper deposits (Lon and Talbot), a net smelter return royalty on the Tower Property which hosts the T-1 Copper Deposit, numerous properties with untested geophysical anomalies and several additional properties with VMS potential ((Freebeth (optioned to HudBay), Dickstone North and Tramping)).  Solvista also owns a zinc-silver rich NI 43-101 Resource (Shihan) in Ontario.  Solvista controls two gold projects, Caramanta and Guadalupe located in Colombia, South America. These two projects cover approximately 44,000 hectares in the Antioquia province of Colombia.

Solvista is well funded and has no debt.

For further information, please contact:
Solvista Gold Corporation
Ken Lapierre, P.Geo
President & CEO

tel. (416) 644-1752; cell (647) 678-3879

klapierre@solvistagold.com       

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


Solvista Drills High Grade Massive Sulphide Mineralization at Talbot:

Intersects 6.1 % Copper, 8.2 g/t Gold, 5.0 % Zinc and 112.1 g/t Silver over 9.13m

TORONTO, Ontario – Solvista Gold Corporation (“Solvista“ or the “Company”) (TSX.V: SVV, OTCQX: SVVZF) is pleased to announce the first drill hole assay results from its ongoing 5,000m, 10-15 hole drill program on the Talbot Property, Manitoba. Drill hole TB-001 intersected the following results;

6.1 % copper, 8.2 g/t gold, 5.0 % zinc, 112.1 g/t silver across 9.13m including

5.9 % copper, 16.6 g/t gold, 5.8 % zinc, 135.6 g/t silver across 3.8m

Ken Lapierre, President and CEO commented, “Our very first drill hole confirms that the Talbot Property has substantial potential to host high grade massive sulphides containing significant thicknesses and grades in copper, gold, zinc and silver.  Drill hole geophysical data from TB-001 has also identified large conductive anomalies that need to be drill tested to determine their significance.  Drilling continues and we look forward in testing several additional high priority copper-gold-zinc-silver targets on the Talbot Property .”

The massive sulfide intersection in TB-001 is located in a part of the historic Talbot Deposit-Main Lens, where additional drilling had been recommended due to the wide spacing between the nearby drill holes.  Massive sulphides were intersected between 558.68 metres and 567.81 metres (not true thickness) that consisted of megacrystic pyrite in a fine grained chalcopyrite matrix with disseminated to blebby sphalerite.  Down hole geophysical data indicates substantial conductive anomalies that warrant follow-up drilling. Interpretation of the geophysical anomalies is ongoing and the results will be reported on in subsequent news releases. TB-001 was drilled at UTM co-ordinates 458320E/5997012N, to a depth of 772 metres, along an azimuth of 285 degrees, and a dip of -70 degrees.

 

The Company’s drill program is focussed on four (4) areas with significant high grade copper-gold-zinc and silver potential.  The areas are; (1) Talbot Deposit: main, footwall and north lenses; (2) High Grade Gold Lens 50m south of the Talbot Deposit; (3) EZ Copper-Gold Zone located 500m north of the Talbot Deposit; and (4) The North Target: a complex, 1,000m long geophysical conductor which is located approximately 2.5km north of the Talbot Deposit and is known to be mineralized with anomalous copper from two (2) historic drill holes spaced 400m apart.

Solvista’s hole TB-002 has been completed on the High Grade Gold Lens in an area where an untested early-time channel bore hole geophysical anomaly is interpreted as the potential southern extension of the Gold Lens. Several historic drill holes north of and along strike of this anomaly intersected significant high grade gold-silver drill values (not true thickness) of:

·        10.4 g/t gold and 54.5 g/t silver across 5.2m and

·        8.2 g/t gold and 88.4 g/t silver across 9.3m

Downhole geophysical surveying of TB-002 has also been completed and sampling of mineralized drill core will commence shortly. The split core samples will be analyzed for gold, silver, copper and zinc content.  Assay results from the drilling will be released to the public once received and compiled.

Samples of half core are packaged and shipped directly from Solvista field office to TSL Laboratories (TSL), Saskatoon, Saskatchewan.  TSL is a Canadian assay laboratory and is accredited under ISO/IEC 17025.   Each bagged core sample is dried, crushed to 70% passing 10 mesh and a 250g pulp is pulverized to 95% passing 150 mesh for assaying.  A 0.5g cut is taken from each pulp for base metal analysis and leached in a multi acid (total) digestion and then analyzed for copper, lead, zinc and silver by atomic absorption.  Gold concentrations are determined by fire assay using a 30g charge followed by fire assay gravimetric an atomic absorption finish.  Samples greater than an upper detection limit (3000 ppb) are reanalyzed using a 1 AT charge.   Solvista inserted certified blanks and standards in the sample stream to ensure lab integrity.

Solvista can earn a 51% interest in the Talbot Property from Hudson Bay Exploration and Development Company Limited (HBED), a wholly owned subsidiary of Hudbay Minerals Inc. by spending $6,120,000 on exploration expenditures over six (6) years.  The first and second year expenditure commitments are $200K (completed) and $400K respectively with escalating expenditure commitments over the remaining years.  The agreement provides that once Solvista has earned its 51% interest in the Talbot Property, Solvista (51%) and Hudbay (49%) will form a joint venture and Solvista will be the Operator of the joint venture.  Provided Hudbay contributes its pro rata (49%) share of expenditures under the joint venture, it will have two (2) years from the date Solvista earns its 51% interest to purchase an additional 2% interest for a cash payment of $240,000 and either incurring expenditures over a two (2) year period equivalent to 2% of the joint venture expenditures made since the formation of the joint venture or paying such amount to Solvista in cash. If Hudbay acquires the additional 2%, it will become the Operator of the joint venture. Once a positive Feasibility Study has been completed and mining development has commenced, the Operator can increase its interest in the Talbot Property to 65% by paying the other participant a cash payment equal to the pro rata share of expenditures made by the other participant to reduce it to a 35% interest. The Operator would then fund the costs of development and will be reimbursed for 100% of the development costs including the 35% interest of the non-operator. Once the costs of development have been repaid, the parties will be reimbursed their pro rata share of expenditures made prior to the date development commences before net profits are distributed pro rata (please see Press Release dated April 23, 2014 and filed on SEDAR under Rockcliff Resources for additional information).

About Solvista Gold Corporation

 Solvista Gold Corporation is a Canadian resource exploration company focused on discovery and resource expansion of its high-quality mineral properties at its Snow Lake Project. On June 18, 2015, Solvista merged with Canadian explorer Rockcliff Resource Inc. Solvista now controls the Snow Lake Project in central Manitoba, totalling in excess of 35,000 hectares. The project includes one (1) VMS high grade copper rich NI 43-101 Resource (the Rail Property), two (2) historic high grade VMS copper deposits (the Lon Property and the Talbot Property), a net smelter return royalty on the Tower Property which hosts the T-1 Copper Deposit, numerous properties with untested geophysical anomalies and several additional properties with VMS potential ((Freebeth (optioned to HudBay), Dickstone North and Tramping)).  Solvista also owns a zinc-silver rich NI 43-101 Resource (the Shihan Property) in Ontario.  Solvista controls two gold projects, Caramanta and Guadalupe located in Colombia, South America.

Solvista is well funded and has no debt.

Ken Lapierre P.Geo., President and CEO of Solvista., a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this press release.

For further information, please contact:

Solvista Gold Corporation

Ken Lapierre, P.Geo

President & CEO

tel. (416) 644-1752; cell (647) 678-3879

klapierre@solvistagold.com       

 

Cautionary Note Regarding Forward-Looking Statements: This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe Solvista’s future plans, objectives or goals, including words to the effect that Solvista or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Solvista, Solvista provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Solvista’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in Solvista’s public documents filed on SEDAR. Although Solvista believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Solvista disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

 

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


Solvista Commences Drilling for High Grade Massive Sulphide Mineralization at Talbot Property

TORONTO, Ontario. Solvista Gold Corporation (“Solvista”) (TSX.V: SVV, OTCQX: SVVZF) is pleased to report that a first phase drill program on the Talbot property has commenced. The fully permitted program is planned to include between 10-15 holes totalling approximately 5,000 meters and will focus on four (4) areas within and around the historic, high grade, copper-gold-zinc-silver (Volcanogenic Massive Sulphide or VMS) Talbot Deposit.  The objective of the program is to discover, within close proximity to the Talbot Deposit, similar areas of high grade VMS (copper-gold-zinc-silver massive sulphide) mineralization.

The Company plans to test four (4) areas prospective for a high grade VMS discovery: 1) Talbot Deposit: main, footwall and north lenses where conductive extensions were identified bybore hole geophysics, 2) High Grade Gold Lens: several significant high grade historic gold-silver drill intercepts (5.2m grading 10.4g/t gold and 54.5g/t silver in hole TLS005 and 9.3m grading 8.2g/t gold and 88.4g/t silver in TLS012) located on strike and south of the Talbot Deposit, are associated with southward striking early-time channel bore hole anomalies, 3)  EZ Zone: copper-gold-silver mineralization (2.6m grading 1.7% copper, 1.3g/t gold, 15.1g/t silver in historic hole HAR 085) is interpreted to be associated at the southernmost edge of a 400m long untested, north trending geophysical anomaly. 4) The North Target: interpreted to be a complex, 1,000m long geophysical conductor that is similar in appearance to the geophysical signature associated with the Talbot Deposit.  Only two (2) historic shallow drill holes have been completed on this target intersecting highly anomalous copper mineralization along the “top edge” of large, multiple, strongly conductive buried anomalies.

Assay results from the drilling will be reported to the public once received from TSL Laboratories.

The historic high grade Talbot Deposit is defined as a stratabound, volcanogenic massive sulphide deposit consisting of several lenses of coarse grain to stringer to massive sulphides of pyrite, chalcopyrite, sphalerite and pyrrhotite in a quartzofeldspathic gneiss. The depositional environment is similar to that of present and past producing base metal deposits of felsic to mafic volcanic and volcaniclastic rocks in the Flin Flon – Snow Lake Greenstone Belt. Please refer to Solvista’s previous news release dated August 6, 2015 for additional information on the Talbot Deposit or visit our website at www.solvistagold.com.    

Solvista can earn a 51% interest in the Talbot Property from Hudson Bay Exploration and Development Company Limited (HBED), a wholly owned subsidiary of Hudbay Minerals Inc. by spending $6,120,000 on exploration expenditures over the next six (6) years.  The first and second year expenditure commitments are $200K (completed) and $400K respectively with escalating expenditure commitments over the remaining years.  The agreement provides that once Solvista has earned its 51% interest in the Property, Solvista (51%) and Hudbay (49%) will form a joint venture and Solvista will be the Operator of the joint venture.  Provided Hudbay contributes its pro rata (49%) share of expenditures under the joint venture, it will have two (2) years from the date Solvista earns its 51% interest to purchase an additional 2% interest for a cash payment of $240,000 and either incurring expenditures over a two (2) year period equivalent to 2% of the joint venture expenditures made since the formation of the joint venture or paying such amount to Solvista in cash. If Hudbay acquires the additional 2%, it will become the Operator of the joint venture. Once a positive Feasibility Study has been completed and mining development has commenced, the Operator can increase its interest in the Property to 65% by paying the other participant a cash payment equal to the pro rata share of expenditures made by the other participant to reduce it to a 35% interest. The Operator would then fund the costs

of development and will be reimbursed for 100% of the development costs including the 35% interest of the non-operator. Once the costs of development have been repaid, the parties will be reimbursed their pro rata share of expenditures made prior to the date development commences before net profits are distributed pro rata (please see Press Release dated April 23, 2014 and filed on SEDAR under Rockcliff Resources for additional information).

Additionally, the company submitted an application for financing through the Mineral Exploration Assistance Program sponsored by the Manitoba Government and received approval for approximately $160,000 in financing toward eligible expenditures at Talbot Property.  It is anticipated that the eligible expenditures will be incurred by the present drill program and the company will receive the financing in full upon acceptance of the work completed.

Ken Lapierre P.Geo., President and CEO of Solvista., a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this press release.

For more information please visit our website at www.solvistagold.com.

Solvista Gold Corporation
Solvista Gold Corporation is a Canadian resource exploration company focused on discovery and resource expansion of its high-quality mineral properties at its Snow Lake Project. On June 19, 2015, Solvista merged with Canadian explorer Rockcliff Resources Inc.  Solvista now controls the Snow Lake Project in central Manitoba, totalling in excess of 35,000 hectares.  The project includes one (1) VMS high grade copper rich NI 43-101 Resource (Rail), two (2) historic high grade VMS copper deposits (Lon and Talbot), a net smelter return royalty on the Tower Property which hosts the T-1 Copper Deposit, numerous properties with untested geophysical anomalies and several additional properties with VMS potential ((Freebeth(optioned to HudBay), Dickstone North and Tramping)).  Solvista also owns a zinc-silver rich NI 43-101 Resource (Shihan) in Ontario.  Solvista controls two gold projects, Caramanta and Guadalupe located in Colombia, South America. These two projects cover approximately 44,000 hectares in the Antioquia province of Colombia.  The Caramanta property is the subject to an option agreement with IAMGOLD Corporation as described in a press release dated December 13, 2013, available on Solvista’s SEDAR profile at www.sedar.com

Solvista is well funded with no debt.

For further information, please contact:
Solvista Gold Corporation
Ken Lapierre, P.Geo
President & CEO
tel. (416) 644-1752; cell (647) 678-3879
klapierre@solvistagold.com.                      

Cautionary Note Regarding Forward-Looking Statements: This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe Solvista’s future plans, objectives or goals, including words to the effect that Solvista or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Solvista, Solvista provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking

information in this news release includes, but is not limited to, Solvista’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in Solvista’s public documents filed on SEDAR. Although Solvista believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Solvista disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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


Solvista Gold Corporation Announces Appointment of New Chief Financial Officer and Corporate Secretary

TORONTO, Ontario. Solvista Gold Corporation (“Solvista”) (TSX.V: SVV, OTCQX: SVVZF) announces the following appointment to its management team. Mr. Daniel Crandall has been appointed as Solvista’s new Chief Financial Officer and Corporate Secretary.  Mr. Crandall is a Senior Manager at Marrelli Support Services Inc., providing CFO, accounting, regulatory compliance and management advisory services to numerous issuers on the TSX, TSX-venture and other Canadian and US exchanges.  Previously he was a Manager at Collins Barrow Toronto LLP, a public accounting firm where he worked for over five years.  Mr. Crandall holds a CPA and CA certification.

The Board welcomes Mr. Crandall to the management team and looks forward to working with him as Solvista commences drilling at its high grade copper deposits in Manitoba, Canada.

Mr. Donald Christie, who has been a part of the Solvista team since its inception in 2011, has tendered his resignation as Chief Financial Officer and Corporate Secretary.  Mr. Christie will remain on as a Director of Solvista.  The Board of Directors would like to take this opportunity to thank Mr. Christie for his hard work and dedication as CFO and Corporate Secretary and look forward to his continued insight and experience as a Director of Solvista.

 

For more information please visit our website at www.solvistagold.com.

Solvista Gold Corporation

Solvista Gold Corporation is a Canadian resource exploration company focused on discovery and resource expansion of its high-quality mineral properties at its Snow Lake Project. On June 19, 2015, Solvista merged with Canadian explorer Rockcliff Resources Inc.  Solvista now controls the Snow Lake Project in central Manitoba, totalling in excess of 35,000 hectares.  The project includes one (1) VMS high grade copper rich NI 43-101 Resource (Rail), two (2) historic high grade VMS copper deposits (Lon and Talbot), a net smelter return royalty on the Tower Property which hosts the T-1 Copper Deposit, numerous properties with untested geophysical anomalies and several additional properties with VMS potential ((Freebeth(optioned to HudBay), Dickstone North and Tramping)).  Solvista also owns a zinc-silver rich NI 43-101 Resource (Shihan) in Ontario.  Solvista controls two gold projects, Caramanta and Guadalupe located in Colombia, South America. These two projects cover approximately 44,000 hectares in the Antioquia province of Colombia.  The Caramanta property is the subject to an option agreement with IAMGOLD Corporation as described in a press release dated December 13, 2013, available on Solvista’s SEDAR profile at www.sedar.com

Solvista is well funded with no debt.

For further information, please contact:

 

Solvista Gold Corporation

Ken Lapierre, P.Geo

President & CEO

tel. (416) 644-1752; cell (647) 678-3879

klapierre@solvistagold.com.      

               

Cautionary Note Regarding Forward-Looking Statements: This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe Solvista’s future plans, objectives or goals, including words to the effect that Solvista or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Solvista, Solvista provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Solvista’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in Solvista’s public documents filed on SEDAR. Although Solvista believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Solvista disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

 

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


Solvista Commencing Initial Drill Program on High Priority Copper and Gold Targets at Talbot Property, Manitoba

TORONTO, Ontario. Solvista Gold Corporation (“Solvista”) (TSX.V: SVV, OTCQX: SVVZF) is pleased to report that a first phase drill program on the Talbot property is planned to commence in mid-August.  The fully permitted program will consist of approximately 10-15 holes totalling a minimum of 5,000m.  The drilling will focus on four (4) areas within and proximal to the historic, high grade, copper-gold-zinc-silver (Volcanogenic Massive Sulphide or VMS) Talbot Deposit.  The Talbot Property is interpreted to be part of the Flin Flon-Snow Lake greenstone belt located in central Manitoba, Canada. 

Drilling will focus on four (4) main areas where high grade copper and gold potential remains untested: 1) Talbot Deposit: main and footwall lenses where potential deposit extensions were identified by several interpreted bore hole anomalies.  Additionally, a large newly identified, untested anomaly associated with the north lens is interpreted to be the up and down dip extensions of the north lens, 2) High Grade Gold: several significant high grade historic gold-silver drill intercepts were located south of the high grade Talbot Deposit (5.2m grading 10.4g/t gold and 54.5g/t silver in hole TLS005 and 9.3m grading 8.2g/t gold and 88.4g/t silver in TLS012).  These high grade gold-silver intercepts are associated with an interpreted southward striking early-time channel bore hole anomaly, 3)  Exhalite Zone: copper-gold-silver mineralization (2.6m grading 1.7% copper, 1.3g/t gold, 15.1g/t silver in historic hole HAR 085) is interpreted to be located at the southernmost edge of a newly identified, 400m long untested, north trending geophysical anomaly. 4) The North Target: interpreted to be a complex, 1,000m long geophysical conductor associated with multiple anomalies.  Two (2) historic shallow drill holes on this target intersected highly anomalous copper values along the “top edge” of large, multiple, strongly conductive buried anomalies.

An internal report prepared by Hudbay Minerals Inc. (HBM: TSX) (see reference to Talbot Report below) was completed on the Talbot Deposit which Solvista is treating as an historic estimate.  The historic estimate for the Talbot Deposit is detailed below and covers part of the area under exploration by Solvista. HudBay has consented to the use of the information below regarding the Talbot Deposit. 

Notes :   1.            CIM definitions were followed for the estimation of mineral resources. 2. Mineral resources are estimated at a minimum zinc equivalent cut-off of 4.0% over a minimum two meter core length. 3. Cut-off grade was based on a $2/pound copper, $700/ounce gold, $0.85/pound zinc, $12/ounce silver. 4. Specific Gravity measurements were taken by HBED and HBMS personnel on sampled assay interval included in the resource estimation. 5. Mineral resources are not mineral reserves and do not have demonstrated economic viability. 6. The report entitled “Technical Report Talbot Lake Deposit, Manitoba” dated December 19, 2008    was prepared by Mr. Brian Hartman, Central Geologist, HBMS under the supervision of Robert Carter, P.Eng., Senior Mines Analyst, HBMS, a Qualified Person under NI 43-101.  Kimberley Lau, P.Geo., Mines Technical Services Superintendent , HBMS, a Qualified Person under NI 43-101, peer reviewed the report.

Notes:

1.        CIM definitions were followed for the estimation of mineral resources. 2. Mineral resources are estimated at a minimum zinc equivalent cut-off of 4.0% over a minimum two meter core length. 3. Cut-off grade was based on a $2/pound copper, $700/ounce gold, $0.85/pound zinc, $12/ounce silver. 4. Specific Gravity measurements were taken by HBED and HBMS personnel on sampled assay interval included in the resource estimation. 5. Mineral resources are not mineral reserves and do not have demonstrated economic viability. 6. The report entitled “Technical Report Talbot Lake Deposit, Manitoba” dated December 19, 2008

was prepared by Mr. Brian Hartman, Central Geologist, HBMS under the supervision of Robert Carter, P.Eng., Senior Mines Analyst, HBMS, a Qualified Person under NI 43-101.  Kimberley Lau, P.Geo., Mines Technical Services Superintendent , HBMS, a Qualified Person under NI 43-101, peer reviewed the report.

Historical estimates of grade and tonnage given in this Press Release are viewed as reliable and relevant based on the information and methods used at the time. They were prepared in compliance with resource definitions under NI 43-101 but must be considered only as historic resources as the Talbot Report is not a public document. Neither Solvista nor its Qualified Persons have done sufficient work to classify the historic estimate as a current mineral resource under current mineral resource or mineral reserve terminology and are not treating the historic estimate as a current mineral resource.  The historic resource should not be relied upon. Solvista is not aware of any other resource estimates on the Talbot Deposit and the only exploration conducted on the property since the historical estimate has been surface pulse geophysical surveys.  In order to upgrade the historical resource to a current mineral resource additional drilling would be required.

The Talbot Deposit is defined as a volcanogenic massive sulphide deposit, a stratabound accumulation of sulphide minerals that precipitated at or near the seafloor in association with contemporaneous volcanism.  The depositional environment is similar to that of present and past producing base metal deposits of felsic to mafic volcanic and volcaniclastic rocks in the Flin Flon – Snow Lake Greenstone Belt.  Three lenses outline the Talbot Deposit and mineralization tops at 150m vertical and consists generally of coarse-grained disseminated to massive sulphides of pyrite, chalcopyrite, sphalerite, and pyrrhotite in a quartzofeldspathic gneiss. 

Solvista can earn a 51% interest in the Talbot Property from Hudson Bay Exploration and Development Company Limited (HBED), a wholly owned subsidiary of Hudbay Minerals Inc. by spending $6,120,000 on exploration expenditures over the next six (6) years.  The first and second year expenditure commitments are $200K (completed) and $400K respectively with escalating expenditure commitments over the remaining years.  The agreement provides that once Solvista has earned its 51% interest in the Property, Solvista (51%) and Hudbay (49%) will form a joint venture and Solvista will be the Operator of the joint venture.  Provided Hudbay contributes its pro rata (49%) share of expenditures under the joint venture, it will have two (2) years from the date Solvista earns its 51% interest to purchase an additional 2% interest for a cash payment of $240,000 and either incurring expenditures over a two (2) year period equivalent to 2% of the joint venture expenditures made since the formation of the joint venture or paying such amount to Solvista in cash. If Hudbay acquires the additional 2%, it will become the Operator of the joint venture. Once a positive Feasibility Study has been completed and mining development has commenced, the Operator can increase its interest in the Property to 65% by paying the other participant a cash payment equal to the pro rata share of expenditures made by the other participant to reduce it to a 35% interest. The Operator would then fund the costs of development and will be reimbursed for 100% of the development costs including the 35% interest of the non-operator. Once the costs of development have been repaid, the parties will be reimbursed their pro rata share of expenditures made prior to the date development commences before net profits are distributed pro rata (please see Press Release dated April 23, 2014 and filed on SEDAR under Rockcliff Resources for additional information).

Ken Lapierre P.Geo., President and CEO of Solvista., a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this press release.

For more information please visit our website at www.solvistagold.com.

 

Solvista Gold Corporation

Solvista Gold Corporation is a Canadian resource exploration company focused on discovery and resource expansion of its high-quality mineral properties at its Snow Lake Project. On June 19, 2015, Solvista merged with Canadian explorer Rockcliff Resources Inc.  Solvista now controls the Snow Lake Project in central Manitoba, totalling in excess of 35,000 hectares.  The project includes one (1) VMS high grade copper rich NI 43-101 Resource (Rail), two (2) historic high grade VMS copper deposits (Lon and Talbot), a net smelter return royalty on the Tower Property which hosts the T-1 Copper Deposit, numerous properties with untested geophysical anomalies and several additional properties with VMS potential ((Freebeth(optioned to HudBay), Dickstone North and Tramping)).  Solvista also owns a zinc-silver rich NI 43-101 Resource (Shihan) in Ontario.  Solvista controls two gold projects, Caramanta and Guadalupe located in Colombia, South America. These two projects cover approximately 44,000 hectares in the Antioquia province of Colombia.  The Caramanta property is the subject to an option agreement with IAMGOLD Corporation as described in a press release dated December 13, 2013, available on Solvista’s SEDAR profile at www.sedar.com

Solvista is well funded with no debt.

For further information, please contact:

Solvista Gold Corporation

Ken Lapierre, P.Geo

President & CEO

tel. (416) 644-1752; cell (647) 678-3879

klapierre@solvistagold.com.      

Cautionary Note Regarding Forward-Looking Statements: This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe Solvista’s future plans, objectives or goals, including words to the effect that Solvista or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Solvista, Solvista provides no assurance that actual results will meet management’s  expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Solvista’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in Solvista’s public documents filed on SEDAR. Although Solvista believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Solvista disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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

              


SOLVISTA GOLD ANNOUNCES GRANT OF STOCK OPTIONS

Toronto, Ontario – June 23, 2015 – Solvista Gold Corporation (“Solvista” or the “Corporation”) (TSX-V: SVV, OTCQX: SVVZF) announces the grant of a total of 2,400,000 stock options to certain officers and directors of the Corporation pursuant to the Corporation’s incentive stock option plan. The stock options were granted effective June 22, 2015, exercisable at a price of $0.05 per common share and expire on June 22, 2020. The stock options vest as to one-third (1/3) on June 22, 2015, one-third (1/3) on June 22, 2016 and one-third (1/3) on June, 2017.

About Solvista

Solvista is a Canadian resource exploration company focused on discovery and resource growth of its high-quality mineral properties at its Snow Lake Project. Solvista presently controls the Snow Lake Project in central Manitoba, totalling in excess of 350 km2. The project includes two VMS high grade copper rich NI 43-101 Resources (T-1, Rail), two historic high grade VMS copper deposits (Lon and Talbot), the T-2 Copper Zone (Tower), numerous untested geophysical anomalies and several additional properties with VMS potential (Freebeth, Dickstone North). Solvista also owns a zinc-silver rich NI 43- 101 Resource (Shihan) in Ontario. For more information, please visit the Rockcliff website at www.rockcliffresources.com. Solvista also holds with two gold exploration projects, Caramanta and Guadalupe located in Colombia, South America. These two projects cover approximately 44,000 hectares in the Antioquia province of Colombia, a region rich in historic gold mining tradition and where several new gold discoveries have recently been made. Solvista’s key Colombian project, Caramanta is the subject of a significant option agreement with IAMGOLD Corporation as described in a press release dated December 13, 2013. Further information on the agreement is available on SEDAR and on Solvista’s website. Solvista is well funded and has completed initial drill programs at both its projects, with the discovery of significant mineralization at both.

For further details on Solvista, its management team and its projects, please refer to Solvista’s website (www.solvistagold.com).

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. 


SOLVISTA GOLD CORPORATION AND ROCKCLIFF RESOURCES INC. ANNOUNCE CLOSING OF AMALGAMATION

Solvista Gold Corp. and Rockcliff Resources Inc., further to the joint press release issued May 12, 2015, have closed the amalgamation of Rockcliff and a wholly owned subsidiary of Solvista. Pursuant to the amalgamation, each of the issued and outstanding securities of Rockcliff was exchanged for 0.9 of an equivalent security of Solvista. The newly amalgamated company, known as Rockcliff Resources, which holds all of Rockcliff's assets, is a wholly owned subsidiary of Solvista. Solvista has a total of 108,201,018 common shares issued and outstanding upon closing of the amalgamation and the settlement of certain current liabilities of Rockcliff through the issuance of common shares of Solvista. On closing, Ken Lapierre was appointed president and chief executive officer of Solvista, and Bruce Durham resigned as president and CEO. He will continue as a director and consultant to the company. The board of directors of Solvista would like to thank Mr. Durham for his service to the company as president and CEO. As part of the amalgamation, Ken Lapierre and Bill Johnstone joined Donald Christie, Bruce Durham, Roger Easterday, G. Edmund King, Miller O'Prey and Gerald McCarvill on the board of directors of Solvista.

At the shareholders meeting for Rockcliff held on June 17, 2015, in excess of 48 per cent of issued and outstanding capital of Rockcliff was represented. The amalgamation was approved by more than a 99-per-cent majority of the shareholders voting at the meeting. The common shares of Rockcliff can be traded immediately on the TSX Venture Exchange as Solvista shares at the exchange ratio, under the symbol SVV.

Ken Lapierre, the newly appointed president and chief executive officer of Solvista, stated: "I am very pleased with the support received from the shareholders of Rockcliff for the amalgamation. The new Solvista is well funded with exceptional copper assets, a management team with decades of mineral discovery experience and a dynamic board of directors with extensive experience in the financial sector. I am excited to be joining the Solvista team with the technical and financial background, and the funds in place to continue with the primary goal of becoming mine finders within the Snow Lake project located in Manitoba, Canada. Our first step in this process will be the commencement of a drill program at the Talbot property."


SOLVISTA GOLD CORPORATION AND ROCKCLIFF RESOURCES INC. ANNOUNCE FILING OF ROCKCLIFF MANAGEMENT INFORMATION CIRCULAR

Rockcliff Resources Inc., further to the joint press release issued on April 20, 2015, with Solvista Gold Corp., has filed a comprehensive management information circular for the annual and special meeting of Rockcliff to be held on June 17, 2015, to, among other things, seek approval for the amalgamation of Rockcliff and a wholly owned subsidiary of Solvista, pursuant to the amalgamation agreement dated April 17, 2015, as amended April 30, 2015, whereby Solvista will acquire each of the issued and outstanding securities of Rockcliff in exchange for 0.9 of an equivalent security of Solvista. Following completion of the transaction, the newly amalgamated company, which will hold all of Rockcliff's assets, will be a wholly owned subsidiary of Solvista. The completion of the transaction remains subject to a number of conditions, as set forth below. Solvista will have a total of 108,201,019 common shares issued and outstanding upon closing of the transaction, and the settlement of certain current liabilities of Rockcliff through the issuance of common shares of Solvista. A copy of the circular is available on the SEDAR profile for Rockcliff.

Ken Lapierre, president and chief executive officer of Rockcliff, stated: "With the present working capital of Solvista and the exceptional copper assets of Rockcliff, the new Solvista will be well funded with a strong treasury of over $3.3-million, a combined management team with decades of mineral discovery experience and a dynamic board of directors with extensive experience in the financial sector. This will allow the new company to combine their talents, and the result will be a company with an outstanding technical and financial team, and the funds in place to continue with the primary goal of becoming mine finders within the Snow Lake project located in Manitoba, Canada. I strongly urge the Rockcliff shareholders to vote in favour of the amalgamation."

The TSX Venture Exchange provided Solvista and Rockcliff with conditional approval for the transaction, although the transaction still remains subject to final approval by the TSX-V, including receipt of all final documentation, standard closing conditions, including the approval of the transaction by the Rockcliff shareholders, and completion of due diligence investigations to the satisfaction of each of the parties. The transaction is expected to close on or about June 22, 2015.

The amalgamation has been unanimously approved by the board of directors of Rockcliff and the board of directors of Solvista. Haywood Securities Inc., as a financial adviser to Rockcliff, has provided a fairness opinion to the board of directors of Rockcliff, that subject to the assumptions, limitations and qualifications set out in such fairness opinion, as of April 15, 2015, the exchange ratio provided for in the amalgamation agreement is fair, from a financial point of view, to the Rockcliff shareholders. The fairness opinion is included as schedule E to the circular.

The circular will be mailed to registered shareholders of Rockcliff on May 15, 2015. Rockcliff shareholders are urged to read the circular, which contains additional important information concerning the transaction.

This press release should not be considered as a comprehensive summary of the transaction. Additional information will be disseminated at a future date. Completion of the transaction is subject to a number of conditions, including but not limited to, TSX-V approval. The transaction cannot close until the required Rockcliff shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the information circular to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon.


SOLVISTA GOLD CORPORATION AND ROCKCLIFF RESOURCES INC. SIGN AMALGAMATION AGREEMENT

Rockcliff Resources Inc. and Solvista Gold Corp., further to the joint press release issued March 30, 2015, have entered into a definitive amalgamation agreement dated April 17, 2015, among Solvista, Rockcliff and a wholly owned subsidiary of Solvista, whereby Solvista will acquire all of the issued and outstanding common shares of Rockcliff. The transaction will be effected by way of a three-cornered amalgamation pursuant to which Solvista Subco will amalgamate with Rockcliff, and each issued and outstanding security of Rockcliff will be exchanged for 0.9 of an equivalent security of Solvista. Following completion of the transaction, the newly amalgamated company, which will hold all of Rockcliff's assets, will be a wholly owned subsidiary of Solvista. The completion of the transaction remains subject to a number of conditions, as set forth below. Solvista will have a total of 108,201,019 common shares issued and outstanding upon closing of the transaction and the settlement of certain current liabilities of Rockcliff through the issuance of common shares of Solvista. A copy of the amalgamation agreement is available on the SEDAR profiles for each of Solvista and Rockcliff on SEDAR.

In connection with the transaction, Solvista has provided Rockcliff with a $200,000 short-term loan for the payment of liabilities due prior to the completion of the transaction. The loan is secured against Rockcliff's Rail property located in the Snow Lake district in Manitoba.

The transaction will be submitted to the shareholders of Rockcliff for consideration and approval at an annual and special meeting to be held on June 10, 2015. The TSX Venture Exchange provided Solvista with conditional approval for the transaction but the transaction still remains subject to final approval by the TSX-V, including receipt of all final documentation, standard closing conditions, including the approval of the transaction by the Rockcliff shareholders, and completion of due diligence investigations to the satisfaction of each of the parties. The transaction is expected to close on or about June 15, 2015.

The amalgamation has been unanimously approved by the board of directors of Rockcliff and the board of directors of Solvista. Haywood Securities Inc., as a financial adviser to Rockcliff, has provided an oral opinion to the board of directors of Rockcliff, that subject to the assumptions, limitations and qualifications set out in such fairness opinion, as of April 15, 2015, the exchange ratio provided for in the amalgamation agreement is fair, from a financial point of view, to the Rockcliff shareholders.

Further information regarding the transaction will be contained in the management information circular that will be prepared, filed and mailed by Rockcliff in due course to the Rockcliff shareholders in connection with the Rockcliff meeting. The Rockcliff shareholders are urged to read the information circular once it becomes available as it will contain additional important information concerning the transaction.


SOLVISTA PROVIDES SUMMARY OF WORK COMPLETED BY IAMGOLD IN 2014 ON SOLVISTA'S CARAMANTA PROJECT

Solvista Gold Corp. has received a summary-of-work document from Iamgold Corp., describing the work completed by Iamgold pursuant to its option to earn an interest in the company's Caramanta project in Colombia.

In 2014 Iamgold carried out a variety of programs that included: data review, compilation work, geological mapping, geochemical sampling, ground geophysics, drilling, social and environmental programs, and mineral tenure maintenance on the Caramanta project. The 2014 cost of the various programs, administration and making the December, 2014, option payment of $250,000 (U.S.) required by the agreement totalled $2,549,728 (U.S.). These expenditures were sufficient to meet the first-year expenditure requirements under the option agreement between the parties.

Iamgold has fulfilled its commitments and obligations under the agreement for the first year and has indicated to Solvista that, pending the receipt of permits, it plans to complete additional work on the Caramanta project during 2015. Those plans currently include core drilling programs at El Reten and Ajiaco Sur, provided permits to allow the drilling in the district of integrated management (DMI) are secured in a timely manner. Applications have been filed to secure these permits, and the work is planned to commence in the second quarter, provided the required permits are granted. Iamgold is continuing with social and environmental programs, as well as some additional surface sampling programs.

A complete summary of the terms of the agreement is available on SEDAR and on the company's website.

Commenting on the Iamgold plan for 2015 and the work completed by Iamgold to date, Solvista's president and chief executive officer, Bruce Durham, stated: "We look forward to another year working with Iamgold on the Caramanta project. Iamgold completed a lot of solid technical work in the first year of the agreement, and we look forward to them being able to build on the results of their work, as well as on our work, particularly at El Reten and Ajiaco Sur, where we had considerable success. They were not able to complete work in key parts of those areas in 2014 due to permitting issues in the DMI. If they are successful in permitting the planned drilling, I think we will see some significant results in those areas."

Diamond drilling completed by Iamgold tested targets initially defined and partially drill tested by Solvista, and also tested newly developed target areas in search of gold and copper mineralization within and peripheral to the company's Caramanta porphyry cluster (CPC).

A highlight from the 2014 Iamgold work was its first hole drilled at the Ajiaco Sur target in an area outside the DMI, where hole 15AS001 returned a near-surface copper-gold-silver intersection with average assays of 0.34 per cent copper, 3.21 grams per tonne silver and 0.46 g/t gold over a core interval of 207.5 metres. This hole is located in the area of the Solvista core hole CAD-12-15 intersection.

Summary items for 2014:

 

  • Iamgold spent $2.54-million (U.S.) in the first year of the agreement.
  • Iamgold has made the required payment to Solvista of $250,000 (U.S.).
  • The agreement will remain in good standing through 2015 so long as Iamgold incurs expenditures of at least $1.5-million (U.S.) on the project prior to year-end.
  • Due to DMI restrictions, no work was completed at El Reten, where Solvista discovered copper-gold mineralization in core holes that returned average assay values of up to 1.01 grams per tonne gold and 0.21 per cent copper over a core length of 456.7 metres in core hole CAD-12-18 (press release dated May 14, 2013).
  • No work was competed at El Corral due to restrictions imposed in the DMI.
  • Limited work was completed at the Ajiaco Sur area, where Solvista discovered copper-gold mineralization in core holes with assays of up to 0.46 g/t gold and 0.30 per cent copper over a core length of 357.8 metres in core hole CAD-12-15 (press release dated July 2, 2013).
  • At the north end of the Ajiaco Sur area, one Iamgold core hole, 15AS001, returned a near-surface copper-gold-silver intersection with average assays of 0.34 per cent copper, 3.21 g/t silver and 0.46 g/t gold over a core interval of 207.5 metres. This hole is located in the area of the Solvista hole CAD-12-15 intersection.

 

Iamgold: Caramanta project 2014 annual report -- executive summary

Iamgold is continuing to work to secure permits to resume drilling within the DMI. Timing of receipt of the permit will dictate whether drilling will be completed during 2015, as well as the location, sequence and number of drill holes. The executive summary of the Iamgold work in 2014 states in part:

"In 2014 Iamgold Colombia carried out geologic mapping, geochemical sampling, ground geophysics, drilling, social and environmental programs, and mineral tenure maintenance on the Caramanta project, which when added to the $250,000 (U.S.) option payment to Solvista brought the year 1 expenditure total to $2,549,728 (U.S.).

"The focus to the 2014 program was on the CPC, although significant mapping and sampling programs were carried out over other parts of the property package. Prior to drilling the CPC, 1-to-5,000-scale mapping was completed, 899 infill MMI [mobile metal ion] and 189 rock channel samples were collected, and 14.7 kilometres of ground magnetics and 6.6 km of pole-dipole IP [induced polarization] (a equals 50 metres) carried out. With access to the DMI, limited work was mainly carried out outside the DMI in the northern half of the CPC.

"Solvista's extensive targeting work on the CPC had already highlighted several target areas, Malabrigo, Casa Verde and Ajiaco Norte, all of which lie north of the Ajiaco Sur discovery and outside of the DMI. Solvista's four holes at Malabrigo and one hole at Casa Verde encountered extensive alteration, and short intervals of elevated gold and copper values, but produced no clear discovery. The mapping, MMI sampling and geophysical work carried out in the 2014 program refined the targets at Malabrigo and Casa Verde, providing evidence that the best potential had not been tested. At Malabrigo, Solvista's four-hole cluster failed to test a strong MMI gold anomaly, which is located to the south and west of the cluster. The holes also failed to test strong sheeted vein zones with plus 0.5 g/t Au, located to the west and north. The much larger Casa Verde area, north and east of Malabrigo, produced strong rock chip anomalies in Quebrada Ajiaco, and a broad MMI copper anomaly (and weaker gold anomaly) over a zone 1.5 km long north to south and 500 metres wide. With only one Solvista drill hole in Casa Verde, this large area required substantial additional drilling. Lastly, the ground magnetic survey returned a strong magnetic high anomaly extending from the east edge of Malabrigo eastward across the northern limit of Ajiaco Sur. The anomaly lies within an area mapped as clastic sedimentary rocks that could not possibly account for the anomaly.

"One of the objectives of the 2014 drill program was to continue delineation of Solvista's El Reten and Ajiaco Sur discoveries. However, with the exception of the northern margin of Ajiaco Sur, neither of these zones could be drilled without receipt of a permit from Corantioquia to allow drilling inside the DMI. The original environmental report was filed with Corantioquia in late February, but it became apparent by July that a permit was not going to get issued in time to allow a drill program on these two zones to be carried out in 2014. The decision was taken to focus drilling on the northern CPC targets of Malabrigo and Casa Verde with only limited drilling to address the northern margin of Ajiaco Sur.

"Drilling started on Aug. 4 and continued through Dec. 12 with 3,840 m drilled in 14 diamond drill holes. Highlights from the program are provided in an attached table, with the only potentially economic grade over minable widths coming from the two holes in Ajiaco Sur. Every hole encountered strong potassic alteration, and a stockwork of some combination of quartz, magnetite, pyrite, actinolite, biotite or chlorite. Unfortunately, despite the impressive alteration and veining, gold and copper grades are largely low. Malabrigo again failed to produce a significant intercept in the five holes drilled. The Malabrigo holes show early intramineral andesite porphyries (HPA_ei1 and HPA_ei2) cutting a premineral porphyry body. While overall mineralization is weak, the HPA_ei1 porphyry has the strongest potassic alteration, a higher density of veins, and better Au and Cu values. While potential at Malabrigo has been greatly reduced, the area to the east and northeast remains to be tested."

 

 DRILL HIGHLIGHTS FROM THE 2014 DRILL PROGRAM ON THE CPC

Target Hole ID FromToLengthCu % Ag g/t Au g/t

Ajiaco Sur15AS001 incl.63.2 270.7 207.50.34 3.21 0.46
182.5 220.738.20.68 5.42 1.01
15AS002 incl.66.0 207.6141.580.23 2.33 0.25
106.6 158.0 51.450.28 1.88 0.34
Casa Verde 15CV001156.0 175.0190.15 2.41 0.23
 15CV0029.1 114.5105.450.14 2.92 0.30
216.1 224.0 7.90.20 9.04 1.05
298.0 308.510.50.38 2.43 0.58
 15CV007 57.0 131.0740.10 5.02 0.29
 65.075.0100.1210.68 0.43
119.8 123.53.750.1824.70 0.47

 

"The drill section(s) through the coarse-grained intermediate diorite intrusive (IDI) were consistently anomalous in gold and copper. This is the same unit that hosts most of the mineralization in Ajiaco Sur. The lone hole drilled into the newly identified magnetic high, 15CV001, produced an anomalous intercept but failed to encounter a porphyry body that could account for the magnetic anomaly. It and other holes drilled to the east from the east side of Casa Verde encountered a volcano-sedimentary clastic sequence with all these east-directed holes showing strong potassic alteration and stockwork veining diminishing to the east. The holes also confirm that the large diatreme breccia mapped by Solvista is for the most part really a sedimentary unit with true breccias limited to the northern portion of the previously mapped body.

"Drilling at Ajiaco Sur target has confirmed the presence of an Au-Cu (plus minor molybdenum) porphyry system. The best values are associated with a dense stockwork of early veins and intense potassic alteration in the IDI, and four early intramineral porphyries and breccias (HPA_ei1 to HPA_ei4). Hole 15AS001, drilled from north to south across Ajiaco Sur, produced a long intercept with similar grade to the intercepts returned in Solvista's drill program (for example, CAD-12-15 with 357.8 m of 0.46 g/t Au, 5.0 g/t Ag and 0.30 per cent Cu). The zone appears to have a northeast-trending long axis with a strike of nearly 400 m and a width of up to 300 m, and remains to be fully delineated.

"Mapping and sampling outside the CPC failed to identify new porphyry centres beyond the Don Carlos and El Cardenal zones identified previously by Solvista. Limited additional work was done on the Don Carlos zone, owing to its location within one km of the town of Caramanta. Significant additional mapping and sampling were carried out at El Cardenal, located adjacent to Colombian Mines' Yarumalito project between Caramanta and Valpariso. The El Cardenal work confirms the presence of a porphyry system but indicates it is weak or a distal part of the Yarumalito system. Iamgold's conclusion is that the potential of El Cardenal does not merit a drill program."

The scientific and technical information contained in this press release has been reviewed by the company's president and chief executive officer, Bruce Durham, PGeo, who is a qualified person as such term is defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About the project

The project is located at the centre of the Middle Cauca belt, one of the most prolific gold districts in Colombia, with production dating back to precolonial times. The Middle Cauca belt has been the focus of intense exploration over the past five years, with a number of new discoveries including La Colosa (Anglogold Ashanti), a porphyry-gold deposit with a Joint Ore Reserves Committee-compliant inferred resource of 24.15 million ounces Au at 0.94 g/t Au. Directly south of the project is Gran Colombia Gold's Marmato project with NI 43-101-compliant measured and indicated resources of 11.8 million ounces Au at 0.9 g/t Au and 80 million ounces Ag at 6.1 g/t Ag, and inferred resources of 2.6 million ounces Au at 1.02 g/t Au and nine million ounces Ag at 3.7 g/t Ag. To the north of the project is Sunward Resources' Titiribi deposit, where an NI 43-101-compliant measured and indicated resource of 6.2 million ounces Au equivalent, and an inferred resource of 6.5 million ounces AuEq have been announced (based on information from public sources).

District of integrated management

Three of the Caramanta projects' multiple targets (El Reten, El Corral and Ajiaco Sur) are located within a regional environmental designation referred to as a district of integrated management. Under the terms of the DMI, there is currently a prohibition against open-pit mining within the DMI. Iamgold has filed an application with the regional environmental authority, Corantioquia, requesting permission to carry out drilling within the DMI. It is uncertain when permission will be granted or whether Corantioquia will request further environmental studies prior to further considering the application. At this time, the original effort by Solvista to remove the DMI designation has been stopped. That effort will not be restarted until more is known about the ultimate potential footprint of a development in the CPC.

Under the agreement, Iamgold had the right to declare force majeure on the first anniversary date, should it not have received permission to drill within the DMI. The parties agreed to terms for an amendment, now in preparation, that allows Iamgold to continue exploration activities on the project and delay a decision to declare force majeure. The principal terms halve the year 2 minimum work expenditure to $1.5-million (U.S.) and extend the term of the first option by a year to six years.


SOLVISTA GOLD CORPORATION AND ROCKCLIFF RESOURCES INC. ENTER INTO LETTER OF INTENT REGARDING PROPOSED MERGER

Solvista Gold Corp. and Rockcliff Resources Inc. have entered into a letter of intent, which sets out the principal terms upon which it is proposed that the two corporations will complete a business combination. The merger will be effected on the basis of 0.9 of a Solvista share for each 1.0 Rockcliff share, representing a premium to Rockcliff shareholders of approximately 20 per cent, based on the last closing prices of Solvista shares and Rockcliff shares. Solvista will issue 35,171,701 shares to acquire the issued and outstanding shares of Rockcliff. Each issued and outstanding security of Rockcliff will be exchanged for 0.9 of an equivalent security of Solvista. At the conclusion of the merger, the existing Solvista shareholders will hold approximately 66.5 per cent of the outstanding shares of the combined entity, and the existing shareholders of Rockcliff will hold approximately 33.5 per cent of the outstanding shares of the combined entity on an undiluted basis. It is anticipated that the combined entity will continue to be named Solvista Gold, and will maintain its listings on the TSX Venture Exchange and the OTC bulletin board (OTCBB) under the ticker symbols SVV and SVVZF, respectively. Currently, Rockcliff has 39,079,668 common shares issued and outstanding, and Solvista has 69,729,318 common shares issued and outstanding. The combined entity will have an aggregate total of 104,901,019 common shares issued and outstanding upon closing of the merger and prior to the settlement of certain current liabilities of Rockcliff as discussed elsewhere in this news release.

Reasons for the merger

The merger has been initiated to combine Rockcliff's Snow Lake project (as described below) with the working capital of Solvista to create a strong, well-financed exploration company with an experienced management team to enhance shareholder value for both companies. The combined entity will be well positioned in Manitoba, a stable, mining-friendly jurisdiction, to advance the Snow Lake project.

Rockcliff president and chief executive officer Ken Lapierre stated: "The board and management of Rockcliff unanimously support the planned merger between our two companies. The new Solvista will be well funded and well managed by a dynamic board with an excellent track record and long history of success. The outstanding technical and financial team will perfectly augment Rockcliff's exceptional property portfolio with high-grade copper deposits in Manitoba and Solvista's prolific flagship Caramanta copper-gold property in Colombia, where Iamgold has an option to earn up to a 70-per-cent interest in the property. The new Solvista will focus on systematically advancing its Manitoba high-grade copper assets through a diligent priority process, focusing on its best assets that can generate exciting news in the coming months with a view to long-term success to transition the company from an explorer to a mine finder. We believe that this merger will provide the best opportunity for Rockcliff shareholders to participate in the long-term value and advancement of our assets, which we have worked so hard to advance through very trying market conditions over the last few years."

Solvista president and CEO Bruce Durham stated: "This is a classic business amalgamation that combines management, directors, projects and capital at a low point in the cycle. We think the amalgamation will begin to benefit the shareholders of both companies immediately as well and even more so in the long term. While Iamgold continues under our option agreement on the Caramanta project, we are free to leverage our capital and management into this unique opportunity in Northern Manitoba. We have been patiently searching for an acquisition or merger opportunity since completing the Iamgold option more than a year ago. There is no doubt Ken and his team have put together a package of properties that any serious explorer would envy. The projects all host significant mineralization, and several have at least historic resources outlined already. Talbot in particular, a 2003 discovery by HudBay, was only acquired by Rockcliff last year and has not been drilled since being acquired. It boasts a historic resource by HudBay, remains open to expansion, has proximal untested targets as well as indications of mineralization on other parts of the property. It is already a high-grade copper-zinc-gold-silver deposit, and we feel that it could be just a few holes short of becoming a very significant larger deposit. This transaction gives our shareholders significant exposure in a world-class base and precious metal belt. The recent Fraser Institute annual survey of mining jurisdictions ranks Manitoba No. 4 in the world. Manitoba has it all: great exploration potential, certainty of title, excellent access and infrastructure, MEAP [mineral exploration assistance program] grants, and superflow through. Jurisdiction is always a key element in capital allocation for mineral exploration projects, and that is especially important these days. I have known Ken for more than 30 years, we are both successful explorers, and we want to find more mines. We are excited to get to work together and make this a successful business venture for all of our shareholders."

Structure of the merger

It is anticipated that the merger will be effected by way of a three-cornered amalgamation under the Business Corporations Act (Ontario) (OBCA), pursuant to which Rockcliff (a corporation formed under the OBCA) will amalgamate with a newly incorporated, wholly owned, OBCA-formed subsidiary of Solvista, to be become a wholly owned subsidiary of Solvista.

Under the terms of the merger:

 

  1. All of the common shares of Rockcliff outstanding will be exchanged for common shares of Solvista at the ratio of 0.9 of a Solvista share for each one Rockcliff share;
  2. Each of the outstanding convertible securities of Rockcliff will be converted into securities of Solvista on the same terms and conditions after adjustment for the exchange ratio;
  3. The accounts payable to insiders of Rockcliff are to be capped at $362,500 (including the release of $84,000 of debt by one insider), and will be settled on closing through the payment by Solvista of $180,000 in cash and the issuance of 3.3 million Solvista shares;
  4. Solvista shall maintain its listing on the TSX-V and the OTCBB.

 

In connection with the merger, Solvista shall also provide a bridge loan to Rockcliff within 30 days of the date the parties enter into the amalgamation agreement, in the principal amount of no less than $186,200 and up to $200,000 with interest calculated and payable monthly in arrears at an annual rate of prime plus 8 per cent. Such loan shall be advanced on a drawdown basis to be applied to payables as determined by Solvista and evidenced by invoices provided by Rockcliff to Solvista, with such expenses to be paid by Solvista on behalf of Rockcliff. The loan shall have a term of 120 days and shall be secured against Rockcliff's Rail property, located in the Snow Lake district in Manitoba.

The merger will be submitted to the shareholders of Rockcliff for consideration and approval by special resolution, and a simple majority resolution of the minority shareholders of Rockcliff at the annual and special meeting to be convened by Rockcliff on June 10, 2015. The currently scheduled annual and special meeting of Rockcliff for April 30, 2015, will be cancelled.

The transaction terms outlined in the LOI are expected to be superseded by a definitive agreement. The merger is subject to regulatory approval, including the approval of the TSX-V, standard closing conditions, including the approval of the merger by the directors of each of Rockcliff and Solvista, and the Rockcliff shareholders, and completion of due diligence investigations to the satisfaction of each of the parties, as well as the conditions described elsewhere in this news release. The legal structure for the merger may change after the parties have considered all applicable tax, corporate and securities laws, and accounting efficiencies.

Each party will pay its own costs and expenses (including all legal, accounting and financial advisory fees and expenses) in connection with the merger, including expenses related to the preparation, execution and delivery of the LOI, the definitive agreement and such other required documents.

The definitive agreement will include a standard superior proposal out for Rockcliff, with Solvista having the right to match any superior offer. It is anticipated that the definitive agreement will be signed on or before April 15, 2015.

Board of directors and management of the combined entity

Under the terms of the LOI, Rockcliff will be entitled to appoint two directors to the board of directors of Solvista, who will be Mr. Lapierre and William (Bill) R. Johnstone. The remaining directors of Solvista on a postmerger basis will be Gerald McCarvill, Bruce Durham, Donald Christie, G. Edmund King, Miller O'Prey and Roger Easterday. Mr. Lapierre, the president and chief executive officer of Rockcliff, will be appointed president and chief executive officer of Solvista on closing of the merger.

Following are the backgrounds of the proposed Rockcliff nominees to the board of Solvista.

Mr. Lapierre, president, chief executive officer and a director

Mr. Lapierre is a professional geologist and a member of the Association of Professional Geoscientists of Ontario who graduated from the University of Western Ontario in 1983. He is the founder, and has been the president and CEO of Rockcliff Resources since its inception in 2005. Prior to that, Mr. Lapierre held management positions as president and CEO of JML Resources (2001 to 2006), and vice-president of exploration with Mustang Minerals Corp. (1996 to 2006), Findore Minerals Inc. (1987 to 1995) and Tyranex Gold Inc. (1986 to 1989). Mr. Lapierre has over 30 years experience in exploration, discovery, production and mining in base and precious metals across North and South America.

Mr. Johnstone, director

Mr. Johnstone has been a partner at Gardiner Roberts LLP since February of 2005, practising in the areas of securities and corporate law. Mr. Johnstone is the practice leader of the firm's securities law group. Prior to that, Mr. Johnstone was the proprietor of Johnstone & Company, a boutique corporate and securities law firm, for 12 years. Mr. Johnstone has been practising law for 30 years. Mr. Johnstone is also a director and/or officer of five TSX-V-listed companies (including Rockcliff) and two Canadian Securities Exchange-listed companies.

Rockcliff's Snow Lake project

Talbot property

Rockcliff is earning a 51-per-cent interest in the Talbot property, totalling 4,458 hectares in size, from Hudson Bay Exploration and Development Company Ltd. (HBED), a wholly owned subsidiary of HudBay Minerals Inc., by spending $6-million over six years. The property is located in Manitoba, Canada, 35 kilometres west of Rockcliff's Tower property and host of the Talbot deposit.

 

HISTORICAL MINERAL RESOURCE ESTIMATE FOR THE TALBOT DEPOSIT
 Documented by HudBay in 2008

Deposit (i) Tonnes Copper % Zinc % Silver g/t Gold g/t

Talbot 1,434,0003.42.9 58.41.9

(i) Although the historical resource is viewed as reliable and relevant, 
based on the information and methods used at the time, it does not satisfy
the requirements set out by National Instrument 43-101 -- Standards of 
Disclosure for Mineral Projects. Neither Rockcliff nor its qualified persons
have done sufficient work to classify the historical estimate as current 
mineral resources, and Rockcliff is not treating the historical estimate as
current mineral resources. The historical estimate should not be relied 
upon.

 

The Talbot deposit is defined as a volcanogenic massive sulphide (VMS) deposit, a stratabound accumulation of sulphide minerals that precipitated at or near the sea floor in association with contemporaneous volcanism. The depositional environment is similar to that of present- and past-producing base metal deposits of felsic to mafic volcanic and volcaniclastic rocks in the Flin Flon-Snow Lake greenstone belt. Three lenses outline the Talbot deposit, and mineralization tops at 150 metres vertical, and consists generally of coarse-grained disseminated to massive sulphides of pyrite, chalcopyrite, sphalerite and pyrrhotite in a quartzofeldspathic gneiss.

The deposit is located proximal to numerous untested pulse and borehole geophysical anomalies. These high-priority drill targets have similar geophysical similarities as the Talbot deposit's geophysics.

Potential expansion of the Talbot deposit and additional copper discoveries proximal to the deposit is considered excellent.

Rockcliff is pleased to report that its winter surface geophysical (DPEM (dual-primal electromagnetic)) program at the Talbot property is nearing completion. The first-phase program focused on historical geophysical anomalies centred around the high-grade Talbot deposit. Additional geophysics concentrated north of the deposit, where two historical drill holes intersected multiple highly anomalous copper lenses coincident with an airborne VTEM (versatile time-domain EM) anomaly. A total of over 40 line kilometres of DPEM geophysics have been completed to date. Expected interpretive results are anticipated in the next four to six weeks.

Rockcliff has now applied for a summer drill permit based on preliminary findings of the present survey. A diamond drill program is planned at Talbot after winter breakup.

Rockcliff is also pleased to report that after the completion of the geophysical program, the first year's expenditure requirement on the Talbot property will be satisfied.

Rail property

Rockcliff owns a 100-per-cent interest in the Rail property, which is subject to a 2-per-cent net smelter return royalty to HBED. A National Instrument 43-101 mineral resource statement from the report entitled, "Mineral Resource Evaluation, Rail Polymetallic Sulphide Deposit, Snow Lake, Manitoba," dated Dec. 19, 2010, prepared by Sebastian Bernier, MSc, PGeo, and Dominic Chartier, PGeo, on behalf of SRK Consulting (Canada) Inc., is tabulated in this news release.

 

RAIL DEPOSIT NI 43-101 MINERAL RESOURCE STATEMENT (i)

Resource Quantity GradeContained
category(tonnes)Cu (%)Zn (%)Au (g/t)Ag (g/t)Cu (pounds)

Indicated 822,0003.040.900.669.25 55,090,000

(i) Reported at a cut-off grade of 2 per cent copper. The cut-off grade is
based on a copper price of $3 (U.S.) per pound and a metallurgical recovery
of 80 per cent, without considering revenues from other metals. All figures
are rounded to reflect the relative accuracy of the estimates. Mineral 
resources are not mineral reserves and do not have demonstrated economic 
viability.

 

The Rail property is located approximately 40 km west-southwest of Snow Lake, Man., covers approximately 2,000 hectares and lies within the Flin Flon-Snow Lake greenstone belt. The property hosts a near-surface VMS lens known as the Rail deposit. The deposit remains open in all directions. The deposit is interpreted as a stratabound, massive sulphide deposit, rich in copper, zinc, silver and gold. The deposit is associated with a five-kilometre-long conductive VMS horizon of juvenile arc assemblage rocks. Juvenile arc assemblage rocks presently host all of the mined VMS deposits in the Flin Flon and Snow Lake camps.

Numerous additional underexplored and untested geophysical pulse and borehole anomalies, similar in appearance to the Rail deposit geophysics, are associated along the conductive horizon and are rated as high-priority drill targets.

Potential expansion of the deposit and additional discoveries along the conductive horizon is considered excellent.

Tower property

Rockcliff owns a 70-per-cent interest in the Tower property (remaining 30 per cent owned by Pure Nickel Inc.), which totals 9,530 hectares and is located approximately 120 km south-southeast of Snow Lake, Man. The property hosts the T-1 deposit. An NI 43-101 mineral resource statement in the report entitled, "Independent Technical Report, Tower Property, Grand Rapids, Manitoba, Rockcliff Resources Inc.," dated Jan. 20, 2013, prepared by Zsuzsanna Magyarosi, PhD, PGeo, Julie Selway, PhD, PGeo, Jason Baker, BEng, PEng, and Julie Palich, MSc, PGeo, of Caracle Creek International Consulting Inc., is tabulated in this news release.

 

NI 43-101 MINERAL RESOURCE STATEMENT, T-1 DEPOSIT, MANITOBA

Resource Tonnes Cu (%)Zn (%)Ag (g/t)Au (g/t) Contained
category pounds Cu

Indicated 1,084,1863.731.05 17.280.55 88,968,303
Inferred1,253,5222.001.029.780.27 55,154,968

Notes:
1. Canadian Institute of Mining, Metallurgy and Petroleum definitions were
 followed for the estimation of mineral resources.
2. Mineral resources are estimated at a Cu cut-off of 0.5 per cent.
3. The cut-off grade was based on a copper price of $3.63 (U.S.) per pound.
4. Given the tonnage, grade and orientation of the deposit, Caracle Creek
 considers the T-1 copper deposit to be reasonably amenable to extraction
 using underground mining methods.
5. Specific gravity measurements were taken on a portion of the samples and,
 where actual measurements were not available, an average of 3.00 was
 used.
6. Mineral resources are not mineral reserves and do not have demonstrated
 economic viability.

 

The T-1 deposit is a remobilized, single, vertical-dipping, high-grade, copper-rich lens that is located immediately below a 100-metre-thick layer of Paleozoic limestone cover. It consists of stringers and massive sulphide lenses of chalcopyrite, pyrite, pyrrhotite and sphalerite. Drilling has intersected the deposit over a strike length of 800 m and to a vertical depth of up to 600 m. The deposit mineralization remains open at depth where surface (DPEM) and borehole geophysics have indicated a continuation of the sulphide conductivity beyond the limits of the resource. The deposit is associated with a 12-kilometre-long arcuate-trending copper horizon hosting a second zone of copper mineralization (T-2 copper zone) and several additional conductive targets worthy of follow-up exploration.

Lon-Dickstone North properties

Rockcliff owns a 100-per-cent interest in the Lon-Dickstone North properties, totalling approximately 9,500 hectares and located 30 km west of Snow Lake, Man. The properties lie within the Flin Flon-Snow Lake greenstone belt and host prospective juvenile arc rocks along a 15- to 25-kilometre strike length. The Lon deposit (subject to a 1/2-per-cent net smelter return royalty) and numerous additional untested targets lie along this juvenile arc horizon.

 

HISTORICAL MINERAL RESOURCE ESTIMATE FOR THE LON DEPOSIT
 Documented by Granges Inc. in 1993

Deposit (i) Tonnes Copper % Zinc % Silver g/t Gold g/t

Lon250,000 3.20 5.20 18.8 0.34

(i) Although the resource is viewed as reliable and relevant, based on the
information and methods used at the time, it does not satisfy the 
requirements set out by NI 43-101. Neither Rockcliff nor its qualified 
persons have done sufficient work to classify the historical estimate as a 
current mineral resource, and Rockcliff is not treating the historical 
estimate as a current mineral resource. The historical estimate should not 
be relied upon.

 

The Lon deposit is classified as a stratabound, massive sulphide deposit, and consists of two massive sulphide lenses of pyrrhotite, pyrite, chalcopyrite and sphalerite. The mineralized zones have strike lengths between 50 and 200 metres, plunge extents of at least 600 metres, and a range of up to 3.9 metres wide. Excellent potential remains to increase the resource of the deposit along strike and at depth, and to identify additional mineralization associated with untested pulse and borehole anomalies proximal to the deposit.

Additional surface areas on the property associated with juvenile arc rocks and prospective for VMS mineralization have been identified along strike of the Lon deposit. They include, for example, surface grab samples of 3.64 per cent and 6.12 per cent zinc (DC zone), located 0.5 km and 7.0 km, respectively, from the deposit. Excellent potential remains to find additional copper-bearing mineralization throughout the property.

Other properties

Freebeth property

Rockcliff owns a 100-per-cent interest in the Freebeth property, totalling 7,400 hectares and located approximately 40 km south of Snow Lake, Man. HudBay is presently earning a buyback interest of 55 per cent in the property by paying $170,000 cash (completed) and completing $1.8-million in exploration by May, 2016.

The property hosts two known copper-rich zones within favourable juvenile host rocks and numerous additional untested geophysical pulse anomalies. The property surrounds the former Spruce Pont mine and is located approximately 10 km east of the Reed Copper mine operated by HudBay Minerals.

Jackfish property

Rockcliff owns a 100-per-cent interest in the Jackfish property, subject to a 3-per-cent net smelter return royalty. The property totals 3,712 hectares and is located approximately 30 km south of Snow Lake. The property hosts an underexplored low-grade copper zone worthy of additional drilling.

Tramping property

Rockcliff owns a 100-per-cent interest in the Tramping property, totalling 904 hectares. The property is located approximately 15 km south of Snow Lake, Man., and seven km south of HudBay's Lalor mine. The property hosts favourable juvenile arc rocks associated with a coincident, untested mag and pulse (EM) anomaly.

Other conditions to the merger

Completion of the merger is subject to a number of conditions, including but not limited to TSX-V acceptance. Where applicable, the merger cannot close until the required Rockcliff shareholder approval is obtained. There can be no assurance that the merger will be completed as proposed or at all. Other conditions to completion of the merger include but are not limited to: (a) negotiation and execution of a definitive agreement in respect of the merger; (b) preparation and filing of a disclosure document outlining the definitive terms of the merger in accordance with the rules of the TSX-V and applicable securities law; (c) receipt of all requisite approvals from Rockcliff shareholders, regulatory authorities (including the TSX-V) and third parties, if applicable, relating to the merger; (d) no material adverse change prior to completion of the merger; (e) the representations and warranties being true and correct in all material respects as of the closing of the merger; (f) receipt of legal opinions in relation to the merger; (g) there being no debts or amounts owing to certain insiders and other non-arm's-length persons, other than for expenses incurred in the ordinary course; (h) no legal proceeding, regulatory action, inquiry or investigation as at the closing of the merger which may have a material adverse effect; (i) no prohibition at law against the merger; (j) compliance with the terms of the LOI; and (k) no material breach of the covenants contained in the merger documents.

Bruce Durham, PGeo, president and CEO of Solvista Gold, a qualified person in accordance with Canadian regulatory requirements as set out in NI 43-101, has reviewed and approved the technical information in this press release relating to Solvista.

Kenneth J. Lapierre, PGeo, president and CEO of Rockcliff Resources, a qualified person in accordance with Canadian regulatory requirements as set out in NI 43-101, has reviewed and approved the technical information in this press release relating to Rockcliff.

This press release should not be considered a comprehensive summary of the merger. Additional information will be disseminated at a future date. Completion of the merger is subject to a number of conditions including but not limited to TSX-V approval. The merger cannot close until the required shareholder approval is obtained. There can be no assurance that the merger will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the information circular to be prepared in connection with the merger, any information released or received with respect to the transaction may not be accurate or complete, and should not be relied upon.