Shareholders of Birch Hill Gold Corp. approve Business Combination

OAKVILLE, May 15, 2014 - Canoe Mining Ventures (TSXV: CLV) ("Canoe Mining") and Birch Hill Gold Corp. (TSXV: BHG) ("Birch Hill") (collectively the "Companies") announce that the shareholders of Birch Hill have approved the acquisition of Birch Hill by Canoe Mining by way of a three-cornered amalgamation (the "Transaction"). The votes were tabulated during a Birch Hill special shareholder meeting held on May 15, 2014. 100% of the votes at the meeting representing 41.9% of the shares outstanding supported the Transaction.

Completion of the Transaction remains subject to a number of conditions, including but not limited to, the satisfaction of standard closing conditions for transactions of this nature, and the acceptance of the TSX Venture Exchange. Canoe Mining and Birch Hill expect to complete the Transaction in the week of May 26, 2014.

Details on the Transaction between Canoe Mining and Birch Hill can be reviewed in the joint news releases issued by the Companies on March 4, 2014 and March 26, 2014.

Birch Hill will request that its shares be delisted from trading on the TSX Venture Exchange immediately following the completion of the Transaction.

Additional information on the Transaction and other corporate documents may be found under the Companies' filings on www.sedar.com, the Canoe Mining website at www.canoemining.com, and the Birch Hill website at www.birchhillgold.com.


On behalf of the Board of Directors

Chuck Allen, President and CEO
Canoe Mining Ventures Corp.

Barry Girling, President
Birch Hill Gold Corp.



Investors are cautioned that, except as disclosed in the management 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.

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

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 OR ACCURACY OF THIS RELEASE.


CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed transaction; the terms and conditions of the Offering; and the business and operations of the Canoe Mining after the proposed transaction. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the results of current exploration and testing. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Parties disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.



Contact

Canoe Mining Ventures Corp.
Luke Vigeant, Manager, Investor Relations
(905) 844-7612
lvigeant@canoemining.com