Alloycorp Mining Inc. Completes Amalgamation

TORONTO, August 09, 2016 - Alloycorp Mining Inc. ("Alloycorp" or the "Company") (TSX VENTURE: AVT) is pleased to announce that it has completed an amalgamation (the "Amalgamation") with 1080224 B.C. Ltd. (the "Purchaser") pursuant to an acquisition agreement dated June 30, 2016 between Alloycorp and the Purchaser, under the provisions of the Business Corporations Act (British Columbia) to form an amalgamated company under the name "Alloycorp Mining Inc." ("Amalco").

The Amalgamation was approved by the shareholders of Alloycorp at an annual and special general meeting held on August 8, 2016 and is further described in the management information circular of the Company dated July 6, 2016, which is available under the Company's SEDAR profile at www.sedar.com.

The Company's shares are currently halted by the TSX Venture Exchange and it is expected that Amalco will be de-listed from the TSX Venture Exchange from the close of the markets on or about August 9, 2016. Once de-listed, Amalco will take the necessary steps to cease to be a reporting issuer in each applicable province of Canada.


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.

Forward-Looking Statements: This news release contains certain forward-looking information concerning the business of Alloycorp that constitute "forward-looking information" within the meaning of applicable securities laws. Such statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate", "estimate", "scheduled", "predict" and other similar terminology, or state that certain actions, events or results "may", "could", "would", "might", or "will be taken or occur to be achieved. All statements, other than statements of historical fact, included herein, including those related to the Amalgamation, delisting, ceasing to be a reporting issuer or related transactions are forward-looking statements. These forward-looking statements are based on the opinions of management at the date the statements are made and are based on assumptions and estimates and are subject to a variety of risks and uncertainties and other factors that could cause actual events to differ materially from those projected in forward-looking statements. The Company is under no obligation to update forward-looking statements if circumstances or management's opinions should change, except as required by applicable securities laws. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indicators of whether or not such results will be achieved. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.



Contact

For further information, please contact:
Graham du Preez, Chief Financial Officer
(416) 847-0376