Goldrock Mines : Completes $5.0 Million Private Placement

News Releases

October 27, 2014

Goldrock Completes $5.0 Million Private Placement

Vancouver, British Columbia -- Goldrock Mines Corp. (TSX.V -- GRM)
NR 14-07

Goldrock Mines Corp. (the "Company" or "Goldrock") is pleased to announce that it has completed the previously announced non-brokered private placement (the "Offering") with Waterton Precious Metals Fund II Cayman, LP ("Waterton") by the issuance of 11,111,111 common shares at a purchase price of $0.45 per share for gross proceeds of $5,000,000. All securities issued in connection with the completion of the Offering will be subject to a hold period expiring on February 28, 2015. The net proceeds of $5,000,000 from the Offering will be primarily used for the further development of the Lindero gold project including basic and detailed engineering and a down payment on long lead items, and for general working capital purposes. No finders' fees were paid on the Offering. The 11,111,111 shares being acquired represent approximately 12.3% of the issued and outstanding shares of the Company immediately following the closing of the Offering. The shares are being acquired by Waterton for investment purposes and Waterton may, in the future, acquire additional securities of Goldrock or dispose of securities of Goldrock, subject to compliance with laws.

The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

For additional information:
Paul Matysek
[phone] or www.goldrockmines.com

About Goldrock Mines Corp.

Goldrock Mines Corp. is an emerging gold producer focused on the development of its 100% owned Lindero gold deposit located in Salta province, northwestern Argentina. The Company has been granted the primary mining permit by the Salta provincial government allowing the Company to develop the Lindero open pit, heap leach gold mine. Results of the Lindero Feasibility Study have recently been announced. Production will be at an initial throughput rate of 15,000 TPD, increasing to 18,750 TPD during the first year of operation. Average annual production will be 109,000 ounces during the first nine years. The Company has assembled an experienced operating team and is now arranging project financing. Goldrock's objective is to become a mid-tier gold producer with annual gold production of 250,000 ounces per year through organic growth and accretive acquisitions of near-term producing assets.

Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Statements

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this press release, other than statements of historical facts regarding the Company and the Purchaser, are forward looking statements. Forward-looking statements are characterized by words such as "plan," "expect", "budget", "target", "project", "intend," "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements in this press release include, but are not limited to, statements relating to the anticipated timing of closing of the Offering, the Purchaser's expected ownership position in the Company and the expected benefits to the Company from the Purchaser's investment. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include metal prices, exploration success, continued availability of capital and financing, and general economic, market or business conditions. Accordingly, readers should not place undue reliance on forward-looking statements.