Green Swan Completes Drill Program on Schedule

Burlington, November 28, 2016 - Green Swan Capital Corp. (TSXV: GSW) ("Green Swan") has completed the previously announced 300 meter diamond drill program on its cobalt / gold property (the "Property") in Sudbury, Ontario. The program was completed on schedule and to best of Management's knowledge on budget.

The program consisted of five holes aggregating 298 metres, all drilled from the west of Ed's Watering Hole in the south end of the Property, targeting quartz veins in a structurally controlled corridor. All holes were drilled at a 45 degree angle, except for Hole 3 which was at a 50 degree angle. The five holes are approximately set out in the map below.


Approximate drill plan

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As Green Swan previously reported, Management theorizes that mineralized quartz veins up to 1.2 metres wide occur over a 10 to 20 metre wide pinch and swell zone extending discontinuously up to 50 metres from Ed's Watering Hole northward, within the contact zone between the Nipissing Gabbro to the west, and Sudbury Breccia and metasediments to the east. The diamond drill program was designed to further test this theory.

The core from Hole 1, consisting of approximately 65 metres, has already been logged and split. Based on its theory of the Property, Management expected the first encounter with quartz veining would occur in Hole 1 between 12 and 15 metres, and is pleased to report that such encounter took place roughly 14 metres in. Visible gold was observed towards the bottom of Hole 1.

Core from Hole 1 is in the lab, and Management expects to receive the assay results from Hole 1 in the second or third week of December.

Logging of Holes 2 to 5 continues. Their core will be submitted to the lab as soon as possible, and assay results from those cores will be reported as they become available to Green Swan.

Finally, Green Swan previously reported the assay results from certain surface samples (the "Samples") on November 7, 2016. Green Swan at that time disclosed that the Samples had been collected by a former consulting geologist who had not fully communicated his sampling methodology to Green Swan, and as a result Green Swan had not been able to determine what standards if any were introduced in the testing process. After Green Swan's repeated demands for better information, that former consulting geologist later advised that Sample Number 60210 was a standard. Green Swan then conducted its own independent investigation to confirm that Sample Number 60210 was in fact a standard and not a true sample from the Property. Readers are cautioned not to rely upon the assay results from Sample Number 60210. Green Swan thanks Joerg Kleinboeck, P. Geo, for his professional efforts in tracking and verifying the data provided by the former consulting geologist.

Mr. Kleinboeck is Green Swan's Consulting Geologist, a Qualified Person (Q.P.) under National Instrument 43-101. He has reviewed and approved the scientific and technical data presented in this press release. Mr. Kleinboeck has supervised the diamond drill program, visited the Property on many occasions, examined historic third-party data, visually inspected some of the core from the program, reviewed results with Management, supervised all core shack activities, and coordinated with AGAT.


About Green Swan Capital Corp.

Green Swan Capital Corp. is a Canadian mining company with a proven leadership team, targeting cobalt in Ontario. Green Swan is well-poised to deliver real value to its shareholders.


Forward Looking Statements: This news release may include statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Green Swan cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what Green Swan currently foresees. Discussion of the various factors that may affect future results is contained in Green Swan's recent filings, available on SEDAR. Green Swan assumes no liability for repeating or referring to any facts, statements, releases, data or reports disseminated by any other issuer. Any reference to any other issuer should be cross-checked for accuracy and context by the reader. 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.


On Behalf of the Board of Directors, Green Swan Capital Corp.

"Peter M. Clausi"
Peter M. Clausi, President, CEO and Director



For Further Information:

Green Swan Capital Corp.
Peter M. Clausi
pclausi@greenswancapital.ca
1-905-681-1925 x2



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.