Reservoir Minerals Reports on Status of the Parlozi Silver-Lead-Zinc Project, Serbia

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 6, 2015) - Reservoir Minerals Inc. ("Reservoir" or the "Company") (TSX VENTURE:RMC)(OTC PINK:RVRLF)(BERLIN:9RE) reports that the Parlozi option agreement with Midlands Minerals Corporation ("Midlands") has been terminated as of May 6, 2015.

Simon Ingram, President and CEO stated: "The results of the recent exploration campaigns have refined the Company's model of carbonate-hosted, high-grade silver-lead-zinc mineralization in the Parlozi permit, and identified new targets for shallow drilling around a strong geophysical anomaly interpreted to be a buried intrusive. Reservoir will be actively searching for a new partner to test these and other targets in the permit, which lies in the highly prospective belt of silver-lead-zinc mineralization extending from Macedonia to Serbia and including the productive Trepca mines."

Parlozi Project

The Parlozi exploration permit covers multiple occurrences of historic silver-lead-zinc mining in the Kosmaj-Babe area of the Sumadija mining district in central Serbia. The mineralization in the permit area includes silver-bearing vein and replacement-type lead-zinc sulphides hosted by carbonate sedimentary rocks and associated with intrusive Neogene quartz latite dykes and volcanic breccias. This type of mineralization has long supported lead-zinc-silver mining operations in the Trepca lead-zinc-silver mining district (production from the main Stari Trg mine 1931-1998 of 34.35 million tonnes (Mt) at average grades of 6.0% lead, 4.0% zinc, 75 grams per tonne (g/t) silver; (Mineral Deposits of Serbia, Ore Deposit Database, Ministry of Mining and Energy, 2002) and other mines in the region. The exploration permit has an area of 91 square kilometres, which will be reduced by 25%, in accordance with the Serbian Mining Law, to approximately 67 square kilometres on renewal of the permit in June 2015.

Exploration History

The Parlozi area has a long history of silver-lead(-zinc) mining and exploration as evidenced by the extensive slag heaps and numerous ancient pits, the oldest of which date back to the Roman era.

Systematic mineral exploration was undertaken in the permit area during the 1970s and 1980s by state-controlled companies of the former Yugoslavia, and included 28 drill holes totalling 15,105 metres, exploration adits, airborne and ground geophysical surveys, and detailed geological and mineralogical studies. The Parlozi (also known as Kosmaj-Babé) deposit in the south of the permit area is described in Mineral Deposits of Serbia, Ore Deposit Database (Ministry of Mining and Energy, 2002) with a historical resource of 6.5 Mt at average grades of 4.1% lead, 2.1% zinc, 0.3% copper and 130 g/t silver (Serbian Geo-Institute, 1986). The historical resources were calculated according to the Yugoslav resource criteria (similar to the Soviet classification) from 11 drill holes along a 700 metre strike length. These historical resources are not compliant with National Instrument 43-101 guidelines and should not be relied on, but the Company considers that they are relevant to the assessment of the Parlozi Project.

Reservoir undertook geological mapping and geochemical sampling, drilled a 600.0 metre validation hole, and compiled and modeled all the historical data on the Parlozi prospect. The results of this work are summarized in a 43-101 Independent Technical Report on the Parlozi Property, Serbia (May 21, 2011). This report is available on SEDAR (www.sedar.com).

Under the terms of the option agreement with Midlands Minerals (Company News Release April 7th, 2014), a comprehensive exploration program was initiated on the Parlozi and Plandiste prospects in the southern sector of the permit area, and included detailed geological and structural mapping, underground mapping and sampling of the re-opened adit at Plandiste, ground magnetometry, resistivity and gravimetry geophysics, and 1,714.4 metres core drilling at the Parlozi (1009.8 metres in 3 holes, including 124.8 metres re-drilled due to poor core recovery) and Plandiste (704.6 metres in 3 holes) prospects. Total expenditures on this exploration campaign amounted to C$740,000.

Table 1: Drill holes reported by Reservoir from Parlozi Exploration Permit.

Maps showing the location of the Parlozi exploration permit, adits and drill holes are posted on the Company website (www.reservoirminerals.com).

Summary of Results

The Company's validation drill holes on the Parlozi prospect confirmed the grade tenor and mineralization thicknesses (Table 2) that were reported in the historical resource estimate (Serbian Geo-Institute, 1986). The mineralization to a depth of approximately 150 metres consists of sulfide veinlets and disseminations in argillic altered, silicified and brecciated sandstone, and is notably enriched in gold. The high-grade silver-lead-zinc mineralization at greater than 150 metres depth consisted of veins, veinlets and local massive pyrite, galena and sphalerite mineralization in brecciated and silicified limestone and sandy limestone. Selected results are presented in Table 2.

Table 2: Selected intercepts from validation drill holes PA-1, 14-PA-001A and 14-PA-001, Parlozi Prospect

Underground sampling (Table 3) in the rehabilitated adit and diamond drilling (Table 4) at the Plandiste Prospect identified high-grade silver-lead mineralization in fracture-controlled veins and veinlets beneath an extensive surface area of ancient historical prospecting pits.

Table 3: Significant results from samples collected in the Plandiste adit.

Table 4: Significant intercepts drill holes 14-PA-002, 14-PA-003 and 14-PA-005, Plandiste prospect.

Maps showing the location of the adit and drill holes are posted on the Company website (www.reservoirminerals.com).

The silver-lead-zinc mineralization at Parlozi is interpreted to be similar in type to other carbonate-replacement deposits (CRD-type), and the mineralization at Plandiste is interpreted to be more distal, fracture-controlled veining. The results of the recent work in the south of the Parlozi permit demonstrate a significant mineralized system that is at least 2.0 x 1.5 kilometres in area, including the Parlozi and Plandiste prospects as well as several other prospects and numerous historical exploration pits, and centered around a distinctive positive magnetic anomaly, which is interpreted to reflect the presence of a buried intrusive body. New targets for future drilling have been identified at shallower depths in favorable host rocks around the geophysical anomaly, as well as the untested extensions to depth from the known mineralization. The recent work has focused on the southern sector of the permit, but other mineralized occurrences elsewhere in the permit are known from historical work and will be evaluated as future drilling targets.

Sample Analysis and Quality Control:

Drill hole orientations were surveyed at approximately 50 metre intervals. The samples were collected in accordance with the Company protocols that are compatible with accepted industry procedures and best practice. Samples through the reported intervals were up to two metres in length. Core recovery through the mineralized intervals was generally good, except in the first 120 metres of drill hole 14-PA-001, which was re-drilled as 14-PA-001A.

The samples were prepared at the SGS laboratory or the ALS Chemex laboratory, both located at Bor, Serbia. Sample pulps were analyzed for 49 elements including silver, lead, zinc and copper by ICP-MS, and for gold by fire assay with AAS finish at either of these recognized laboratories. Samples containing greater than 100 g/t silver or greater than 1% lead, zinc or copper, were re-analyzed using 4-acid digestion and atomic absorption finish. Further details on analytical methods can be found in earlier News Releases on the Company website (www.reservoirminerals.com).

The Company follows industry standard quality assurance and quality control procedures for sampling. The QA/QC programme includes the insertion of blanks, duplicates and certified standards into the sample stream.

Qualified Person:

Dr. Duncan Large, Chartered Engineer (UK) and Eur. Geol., a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators and a consultant to the Company, has approved the technical disclosure in this release and verified the data disclosed.

About the Company:

Reservoir Minerals Inc. is an international mineral exploration and development company run by an experienced technical and management team, with a portfolio of precious and base metal exploration properties in Europe and Africa. The Company operates an exploration partnership business model to leverage its expertise through to discovery, and the license described in this News Release will be available for joint venture.

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Contact

Reservoir Minerals Inc.
Chris MacIntyre
VP Corporate Development
+1.416.703.0010
chris@reservoirminerals.com
www.reservoirminerals.com