Robert Sibthorpe Wins Prestigious Award for His Work in Burkina Faso

Vancouver, British Columbia, December 11, 2017 – Parallel Mining Corp. (TSX-V: PAL) (the “Company” or “Parallel”) congratulates Bob Sibthorpe, VP, Exploration, on receiving the prestigious Colin Spence Award for excellence in global mineral exploration from the Association for Mineral Exploration British Columbia (“AME BC”).

AME BC’s Colin Spence award recognizes individuals who have made a significant contribution to enhance mineral resources through the original application of prospecting techniques or other geoscience technology.

The award to Mr. Sibthorpe recognizes his role in the discovery of the Yaramoko deposit in Burkina Faso, where he pioneered the model for previously unidentified high-grade discoveries in the country.

The Company believes that exploration for similar high-grade deposits in Burkina Faso has been limited since the discovery of Yaramoko. Parallel intends to follow Mr. Sibthorpe’s model as the blueprint to find other such deposits in the region.

Mr. Sibthorpe will officially receive the award at AME BC’s Celebration of Excellence on January 24, 2018, during the annual Mineral Exploration Roundup conference in Vancouver, Canada.

About the Company Parallel holds the right to earn a 100% interest in the Sebe Property in the Hounde Greenstone Belt. The Sebe Property is located between the producing gold deposits Hounde and South Hounde operated by Endeavour Mining and Acacia Mining respectively.

Parallel also has an option to earn a 100% interest in the 165.7 square kilometer Garsay exploration permit in a highly prospective greenstone gold belt located in northwest Burkina Faso, 60 kilometers southeast of the producing Inata Gold Mine and Souma deposit

On Behalf of the Board
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Parallel Mining Commences Drilling on Sebe Property

Vancouver, British Columbia, November 3, 2017 – Parallel Mining Corp. (TSX-V: PAL) (the “Company” or “Parallel”) announces the commencement of drilling on the Company’s optioned Sebe property in Burkina Faso. The Company has contracted Falcon Drilling Burkina Faso, S.A.R.L. to conduct approximately 1000 meters (“m”) of diamond drilling intended to test the strike and dip extension of the veining systems which host the previously announced intercepts of 10.2 grams per tonne gold (“gpt”) over 4.5m, 20.2 gpt over 2.3m, 7.1 gpt over 5.6m, and 2.2 gpt over 18m (see news releases dated September 14, 2017, May 24, 2017 and April 6, 2017).

Investor Relations Agreement
The Company has retained the investor relation services of Kaye Wynn Consulting Inc. (“Kaye Wynn“).  Kaye Wynn has been engaged for a period of six months at a rate of $5,000 (plus GST) per month. The agreement may subsequently be renegotiated and/or extended by mutual consent after the initial six month period.  The agreement is subject to TSX-V approval.

About the Company
Parallel holds the right to earn a 100% interest in the Sebe Property in the Hounde Greenstone Belt. The Sebe Property is located between the producing gold deposits Hounde and South Hounde operated by Endeavour Mining and Acacia Mining respectively.

Parallel also has an option to earn a 100% interest in the 165.7 square kilometer Garsay exploration permit in a highly prospective greenstone gold belt located in northwest Burkina Faso, 60 kilometers southeast of the producing Inata Gold Mine and Souma deposit.

On Behalf of the Board
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, are forward-looking statements. 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 the forward-looking statements.

Parallel Mining Drills 20.2 GPT Gold, Extends Strike at Sebe

Vancouver, British Columbia, June 15, 2017 – Parallel Mining Corp. (TSX-V: PAL) (the “Company” or “Parallel”) announces that drilling designed to follow up on the recently reported intercept of 10.2 grams per tonne (“gpt”) gold over 4.5 meters (“m”) (see news release dated May 24, 2017) at the optioned Sebe exploration permit has returned an intercept of 20.2 gpt gold over 2.3 m in SEB17DD-007 from 29.5 m to 31.8 m. SEBDD17-008, drilled directly beneath this hole, returned 7.1 gpt gold over 5.6 m from 79.4 m to 85.0 m.

Veining was encountered in all holes drilled, with significant mineralization occurring in the following:

  • 2 gpt over 2.3 m in SEB17DD-007
  • 8 gpt over 1.4 m in SEB17DD-008, and
    • 1 gpt over 5.6 m
    • including 15.2 gpt over 1.8 m
  • 6 gpt over 2.4 m in SEB17DD-015, and
    • 7 gpt over 0.8 m

“We are very encouraged by these significant results. Despite its central location in a well-known gold mining area, Sebe was part of a national park until recently. Aside from our drilling, Sebe has still not received any modern exploration on the majority of the permit, and the area drilled to date is confined to a small fraction of the overall land package” commented Robert Sibthorpe, VP Exploration. “At this time, it appears the mineralization at Sebe is hosted in a number of parallel north-south trending veins. The next program will attempt to extend the high-grade intercepts in the East Zone to depth and along strike.”

Drill Plan map of the work to date at Sebe:

Sept 14 PR image

Complete assay results from the most recent drill program are below:

Document5 revised

Qualified Person:
Julia Singh P.Geo, an independent Qualified Person under NI 43-101, has reviewed and approved the technical data and contents of this release. Samples obtained during core drilling were transported directly to Actlabs in Ouagadougou (a fully accredited laboratory), Burkina Faso by Parallel Mining personnel for sample preparation. Samples were sorted, dried, crushed and prepped for final chemical analysis using ICP-MS and fire assay methods. Standards, blanks and duplicates were inserted regularly into the sample stream.

About the Company:
Parallel holds the right to earn a 100% interest in the 100.08 square kilometre Sebe Property in the Hounde Greenstone Belt. The Sebe Property is located between the producing gold deposits Hounde and South Hounde operated by Endeavour Mining and Acacia Mining respectively.

Parallel also has an option to earn a 100% interest in the 165.7 square kilometre Garsay exploration permit in a highly prospective greenstone gold belt located in northwest Burkina Faso, 60 kilometers southeast of the producing Inata Gold Mine and Souma deposit.

On Behalf of the Board
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, are forward-looking statements. 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 the forward-looking statements.

Parallel Mining Commences Drilling on Sebe Property

Vancouver, British Columbia, June 15, 2017 – Parallel Mining Corp. (TSX-V: PAL) (the “Company” or “Parallel”) announces the commencement of drilling on the Company’s optioned Sebe property in Burkina Faso. The Company has contracted Falcon Drilling Burkina Faso, S.A.R.L. to conduct a diamond drilling program intended to follow up on the previously announced intercepts of 10.2 grams per tonne gold (“gpt”) over 4.5 meters and 2.2 gpt over 18 meters (see news releases dated May 24, 2017 and April 6, 2017 respectively).

Map of Parallel Mining’s 2017 Drill Program 

About the Company
Parallel holds the right to earn a 100% interest in the Sebe Property in the Hounde Greenstone Belt. The Sebe Property is located between the producing gold deposits Hounde and South Hounde operated by Endeavour Mining and Acacia Mining respectively. Parallel also has an option to earn a 100% interest in the 165.7 square kilometer Garsay exploration permit in a highly prospective greenstone gold belt located in northwest Burkina Faso, 60 kilometers southeast of the producing Inata Gold Mine and Souma deposit.

On Behalf of the Board
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, are forward-looking statements. 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 the forward-looking statements.

Parallel Mining Discovers 10.2 GPT Gold Over 4.5 Meters on Recently Acquired Sebe Property in Burkina Faso

Parallel Mining PAL Drilling on propertyVancouver, BC, May 24, 2017 – Parallel Mining Corp. (the “Company”) (TSX‑V: PAL)  announces that drilling on its recently optioned Sebe property in Burkina Faso reported an intercept in a new zone of 10.2 grams per tonne (“gpt”) gold over 4.5 meters from 31.5 to 36.0 meters in diamond drill hole SEB-DD-17-04 (including 24.9 gpt over 1.5m from 34.5 to 36.0m). As this is an initial intercept, additional drilling will be required to estimate the true width. The recently completed diamond drill program consisted of 726.0 meters in 5 holes.

The Company plans to return to further investigate this new discovery in late June with additional diamond drilling as part of a larger program including follow up drilling at its optioned Garsay property in northeast Burkina Faso.

The recently completed drilling program at Sebe indicates that the gold-bearing veins being exploited by shallow artisanal mining operations do not persist to depth. However, the drilling has encountered intercepts in two previously undetected structures parallel and adjacent to the active areas. Artisanal workings tend to be located only in areas with surface indications of gold and are often not sited on the stronger, hidden parts of the mineralizing system.

Parallel Mining PAL Drilling on property 2John Anderson, President and CEO, comments “With two targets [SEB-DD-17-04 with 10.2 gpt gold over 4.5 meters and the previously reported RAB hole SEB-16-RAB-014 assaying 2.2 gpt over 18 meters] both open at depth and along strike, follow up work at Sebe is very warranted. We are excited to get back to work in the area.”

Qualified Person
Qualified Person: Julia Singh P.Geo, an independent Qualified Person under NI 43-101, has reviewed and approved the technical data and contents of this release. Samples obtained during core drilling were transported directly to Actlabs in Ouagadougou, Burkina Faso by Parallel Mining personnel for sample preparation. Samples were sorted, dried, crushed and prepped for final chemical analysis using ICP-MS and fire assay methods. Certified reference materials were inserted regularly into the sample stream.  Standards were inserted every 10th sample and blanks were inserted every 30th sample.

About the Company
Parallel holds the right to earn a 100% interest in the Sebe Property in the Hounde Greenstone Belt. The Sebe Property is located between the producing gold deposits Hounde and South Hounde operated by Endeavour Mining and Acacia Mining respectively. Parallel also has an option to earn a 100% interest in the 165.7 square kilometer Garsay exploration permit in a highly prospective greenstone gold belt located in northwest Burkina Faso, 60 kilometers southeast of the producing Inata Gold Mine and Souma deposit.

On Behalf of the Board
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, are forward-looking statements. 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 the forward-looking statements.

Parallel Mining Acquires Sebedougou Exploration Property in Burkina Faso

Vancouver, BC, April 6, 2017 – Parallel Mining Corp. (the “Company”) (TSX‑V: PAL) is pleased to announce that the Company has entered into an option agreement (“Option Agreement”) to acquire a 100% interest in the 82-square kilometre Sebedougou Property (“Sebe”) in Burkina Faso.

The Sebe Property is located between Endeavour Mining’s Hounde Project and Acacia Mining’s South Hounde deposit. In September 2016, Parallel’s recently acquired 0909189 B.C. Ltd. carried out Rotary Air Blast (“RAB”) drilling and surface rock sampling over the Sebe Property as part of a due diligence program.

Sebe Project Located between Endeavour’s Hounde Project and Acacia’s South Hounde Deposit

Artisanal mining is active on the Property and covers a strike length of over 500 metres. Historical information indicated that samples taken at the bottom of artisanal mine shafts assayed between 3.0 and 6.6 grams per tonne (“gpt”) gold in seven of the nine shafts tested. Eight surface grab samples taken by 0909189 BC Ltd. in the vicinity of these shafts assayed between 2.9 and 7.8 gpt gold.

The effectiveness of the follow up RAB drill program was limited by an elevated water table and none of the fourteen holes penetrated to target depth. However, the final RAB hole, SEB-16-RAB-014, assayed 2.2 gpt over 18 metres (between 32 and 50 metres) prior to its abandonment at that depth, approximately 25 metres short of target depth. True width of this intersection cannot be determined from the information available.

To follow up these assays, Parallel has engaged Falcon Drilling Burkina Faso, S.A.R.L. to conduct a campaign of approximately 500-700 metres of core drilling on the property. This program is intended to begin immediately.

Robert Sibthorpe, Vice President, Exploration, comments “It’s good to be back in the Hounde Belt with the same team that discovered the now producing high grade Yaramoko gold deposit in Burkina Faso. The positive initial results from Sebe and the numerous high grade gold intercepts recorded at Garsay give Parallel a strong portfolio in the country. “

To acquire a 100% interest in the Sebe Property, Parallel must pay the owner an initial payment of $20,000 USD, a further $50,000 USD twelve months after signing, a further $100,000 USD twenty-four months after signing, and a final payment of $1,000,000 USD thirty-six months after signing. The owner will retain a 2% royalty on commercial mineral production from the property.

Parallel holds the right to earn a 100% interest in the 165.74 square kilometre exploration Garsay permit in the highly prospective greenstone gold belt located in northwest Burkina Faso, 60 kilometres southeast of Avocet Mining’s producing Inata Gold Mine and Souma deposit. Parallel also holds the right to earn a 100% interest in the 82-square kilometre Sebe Property in the Hounde greenstone gold belt in southwest Burkina Faso, located between Endeavour Mining’s Hounde Project and Acacia Mining’s South Hounde deposit.

Qualified Person: Shastri Ramnath, P.Geo, an independent Qualified Person under NI 43-101, has reviewed and approved the technical data and contents of this release.

Samples mentioned in this release were transported directly to Actlabs in Ouagadougou, Burkina Faso by 0909189 B.C. Ltd. personnel for sample preparation. Samples were sorted, dried, crushed and prepared for final chemical analysis using the Fire Assay AA method for Au. Field duplicates were used for the grab sampling.

About the Company
Parallel holds the right to earn a 100% interest in the Sebe Property in the Hounde Greenstone Belt. The Sebe Property is located between the producing gold deposits Hounde and South Hounde operated by Endeavour Mining and Acacia Mining respectively. Parallel also has an option to earn a 100% interest in the 165.7 square kilometer Garsay exploration permit in a highly prospective greenstone gold belt located in northwest Burkina Faso, 60 kilometers southeast of the producing Inata Gold Mine and Souma deposit.

On Behalf of the Board
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Parallel Mining Announces Closing of Non-Brokered Private Placement

Vancouver, BC, April 4, 2017 – Parallel Mining Corp. (the “Company”) (TSX‑V: PAL) is pleased to announce that the Company has completed a non-brokered private placement of 340,000 units at a price of $0.10 per unit for gross proceeds of $34,000.  Each unit consists of one common share and one-half of one common share purchase warrant, each full warrant entitling the holder to acquire one additional common share of the Company at a price of $0.20 per common share for a period of 24 months from the date of closing.

The net proceeds will be used for general working capital.  All securities issued pursuant to the private placement will be subject to a statutory four-month hold period.

The securities offered pursuant to the private placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended or any U.S. state securities laws and may not be offered or sold in the United States or to United States persons absent registration or any applicable exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws.  This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

For further information, please contact:

PARALLEL MINING CORP.

John Anderson,
President & CEO
(604) 218-7400
john@anderson.ag

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Parallel Mining Corp. Announces Completion of Transaction with 0909189 B.C. LTD.

Vancouver, BC, March 8, 2017 – Parallel Mining Corp. (the “Company”) (TSX‑V: PAL) is pleased to announce the completion of the previously announced transaction with 0909189 B.C. LTD. (“0909 BC”) and the shareholders of 0909 BC. As a result of the transaction, the Company acquired 100% of 0909 BC, which in turn holds an option to acquire a 100% interest in exploration licences located in the Soum Province of Burkina Faso, West Africa known as the Garsay Property, subject to a 1% net smelter royalty in favour of the underlying owner.

The transaction was completed pursuant to a share exchange agreement with 0909 BC and the 0909 BC shareholders. Pursuant to the agreement, the Company acquired 100% of 0909 BC in exchange for 7,590,000 common shares of the Company issued to the 0909 BC Shareholders. Certain insiders of the Company received an aggregate of 1,290,000 shares of the Company in connection with the Agreement. Each issuance to an insider constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions  (“MI 61-101”) and Policy 5.9 – Protection of Minority Security Holders in Special Transactions  of the TSX Venture Exchange. The Company is relying on an exemption available from the formal valuation requirements under Section 5.5(a) of MI 61-101 and an exemption available from minority approval requirements under Section 5.7(a) of MI 61-101 on the basis that the fair market value of the transactions with the insiders does not exceed 25% of the Company’s market capitalization.

The common shares issued pursuant to the Agreement are subject to a four-month hold period that expires on July 9, 2017.

For further information please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

 

Parallel Mining Corp. Announces Closing of Final Tranche of Private Placement

Vancouver, BC, March 6, 2017 – Parallel Mining Corp. (the “Company”) (TSX‑V: PAL) is pleased to announce that the Company has completed the final tranche of the previously announced non-brokered private placement (see news releases dated February 9, 2017 and February 27, 2017) issuing an additional 2,500,000 of units at a price of $0.10 per unit for additional gross proceeds of $250,000 for a total of $1,552,500 proceeds raised in the private placement. Each unit consists of one common share and one-half of one common share purchase warrant, each full warrant entitling the holder to acquire one additional common share of the Company at a price of $0.20 per common share for a period of 24 months from the date of closing.

The Company paid 8% finder’s fees on the gross amount raised in both the first and final tranche private placements to Canaccord Genuity Corp., Haywood Securities Inc., PI Financial Corp. and Mackie Research Capital Corporation.

The net proceeds will be used for general working capital. All securities issued pursuant to the private placement will be subject to a statutory four-month hold period.

The securities offered pursuant to the private placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended or any U.S. state securities laws and may not be offered or sold in the United States or to United States persons absent registration or any applicable exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

For further information please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

 

Parallel Mining Corp. Closing of First Tranche of Private Placement

Vancouver, BC, February 27, 2017 – Parallel Mining Corp. (the “Company”) (TSX‑V: PAL) is pleased to announce that the Company has completed the first tranche of the previously announced non-brokered private placement (see news release dated Feb 9, 2017) of a total of 13,025,000 units at price of $0.10 per unit, raising gross proceeds of $1,302,500. Each unit consists of one common share and one-half of one common share purchase warrant, each full warrant entitling the holder to acquire one additional common share of the Company at a price of $0.20 per common share for a period of 24 months from the date of closing.

The net proceeds will be used for general working capital. All securities issued pursuant to the private placement will be subject to a statutory four-month hold period.

The securities offered pursuant to the private placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended or any U.S. state securities laws and may not be offered or sold in the United States or to United States persons absent registration or any applicable exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

For further information please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

 

Parallel Mining Corp. Announces Private Placement

Vancouver, BC, February 9, 2017 – Parallel Mining Corp. (TSX‑V: PAL) (the “Company” or “Parallel”) announces a non-brokered private placement of up to 15,000,000 units (the “Units”) at a price of $0.10 per Unit for gross proceeds of $1,500,000 (the “Offering”). Each Unit will consist of one common share (“Common Share”) in the capital of the Company and one-half of one Common Share purchase warrant (a “Warrant”). Each full Warrant will entitle the holder to purchase one Common Share of the Company for a period of twenty four months from the closing of the Offering at an exercise price of $0.20. The net proceeds from the Offering will be used by the Company for general corporate and working capital purposes.

The Offering, including the future issuance of the Common Shares and Warrants, is subject to the final approval of the TSX Venture Exchange. All securities issued will be subject to a hold period of four months and one day pursuant to applicable securities laws.

For further information please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, are forward-looking statements. 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 the forward-looking statements.

Parallel Mining Announces Renewal Granted at Garsay Gold Project in Burkina Faso

Vancouver, BC, January 9, 2017 – Parallel Mining Corp. (the “Company”) (TSX‑V: PAL) is pleased to announce that the mining licenses on the Garsay Gold Project in Burkina Faso have been renewed, and are now valid through August 13, 2019. The Company has entered into an agreement to acquire 0909189 B.C. Ltd. (“0909189”), a company that holds the right to acquire a 100% interest in the Garsay Gold Project (see news releases dated April 28, 2015 and updated on April 29, 2016).

The Garsay Gold Project covers an area of 165.74 square kilometers located in a highly prospective greenstone gold belt located in northwest Burkina Faso, 60 kilometers southeast of Avocet Mining’s producing Inata Gold Mine and Souma deposit.

Over USD $2.5 million in exploration expenditures has been spent to date on the Garsay Gold Project by 0909189 and the previous operator, a division of Newmont Mining, over the past 5 years including 15,516 meters of drilling. Exploration work to date has identified several high-grade targets along a 1,500 metre strike length in a NNE-SSW direction located on or near the mafic volcanic units/granite-granodiorite contacts in multiple, sub-vertical veins.

Significant intersections from highlighted zones drilled between 2012 and 2016 are listed below. True widths as estimated by cross sectional analysis in brackets:

Hole # Date Zone From (m) To (m) Intercept (m) (est true) Au (g/t)
GRC032 2012 N 70 72 2 (1.4) 178.50
GRC056 2012 SW 72 76 4 (2.8) 2.75
    and 83 86 3 (2.1) 13.17
GRC057 2012 SW 30 31 1 (0.7) 14.40
    and 45 47 2 (1.4) 3.82
    and 70 72 2 (1.4) 4.46
    and 89 102 13 (9.1) 4.58
    incl. 92 96 4 (2.8) 11.16
GDD03 2013 SE 50.66 53 2.34 (1.4) 5.90
    and 99 113 14 (9.8) 5.55
    incl. 105 108 3 (2.1) 19.42
    SW 250 253 3 (2.1) 20.37
GDD01 2013 SW 42 51 9 (6.3) 3.09
    incl. 42 46 4 (2.8) 5.33
    and 87 95 8 (5.7) 1.76
    and 101 102 1 (0.7) 11.00
GDD04 2013 SE 81 82 1 (0.7) 11.15
    and 86 92 6 (4.2) 1.98
    and 104 109 5 (3.5) 1.52
    and 183.22 183.78 0.56 (0.4) 10.35
GDD007 2013 N 107 114 7 (4.9) 1.71
    and 130 136 6 (4.2) 3.72
    and 193 194 1 (0.7) 18.8
GDD008 2013 N 173 174 1 (0.7) 8.73
    and 185 190 5 (3.5) 3.20
    and 217 219 2 (1.4) 4.43
GSRAB15-03 2015 N 50 60 10 (9.0) 3.00
GSRAB15-05 2015 SE 44 54 10 (9.0) 3.02
GSRAB15-10 2015 SW 32 44 12 (10.8) 12.39
    incl. 40 44 4 (3.6) 33.70
GSRAB16-13 2016 SW 30 46 16 (14.4) 4.79
    incl. 30 34 4 (3.6) 7.21
    incl. 42 46 4 (3.6) 7.21
GSRAB16-15 2016 SW 32 46 14 (12.6) 3.27
DD16-01 2016 SE 454.1 455.8 1.7 (1.6) 5.03
DD16-03 2016 SW 103.5 106.6 3.1 (2.7) 4.24
and 115.5 117.8 2.3 (1.8) 5.22
*2015 and 2016 data verified by the QP

Upon completion of the acquisition of 0909189, the Company plans to aggressively explore the Garsay Gold Project with follow up drilling to further delineate known zones as well as drill test new targets from soil and rock sampling anomalies.

John Anderson, President and CEO, comments: “The current exploration team working on the Garsay Gold Project were responsible for the high grade gold discovery of what has now become the Yaramoko Gold Mine, owned and operated by Roxgold Inc. Due to depressed market conditions for gold exploration projects since that discovery, we believe that this model of deposit has been largely ignored and opportunities to make similar discoveries are present in Burkina Faso. This is what we hope to prove with Garsay and it is Parallel’s intention to use the model created at Yaramoko to source, explore, and develop high grade gold occurrences in the country.”

All drilling conducted by 0909189 was carried out by Falcon Drilling and PPI Mining Services, and assaying was performed by Actlabs, an internationally accredited lab.

Qualified Assurance/Quality Control
Samples obtained during core drilling were transported directly to Actlabs in Ouagadougou, Burkina Faso by 0909189 personnel for sample preparation. Samples were sorted, dried, crushed and prepared for final chemical analysis using ICP-MS and fire assay methods. Certified reference materials (standards and blanks) were inserted at regular intervals. Field duplicates were inserted in the 2015 drilling program.

Qualified Person: Shastri Ramnath, P. Geo., a Qualified Person under NI 43-101, has reviewed and approved the 2015/2016 technical data as well as the contents of this release.

Technical data prior to 2015 has not been verified by a Qualified Person as defined by NI 43-101, and was prepared by the previous operator prior to either Parallel or 0909189 entering into an agreement to acquire an interest in the property. Although the figures are relevant and generated from sources the Company believes to be reliable, they have not been confirmed by a Qualified Person and, accordingly, should not be relied upon as such.

For further information please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, are forward-looking statements. 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 the forward-looking statements.

Parallel Mining Corp. Announces Passing of Director Len Davies

Vancouver, BC, November 25, 2016 – Parallel Mining Corp. (the “Company”) (TSX‑V: PAL) announces with great sadness that Mr. Len Davies, a Non-Executive Director of the Company, has passed away. Mr. Davies joined Parallel’s Board in October 2011 as an independent director. Mr. Davies’ contributions to the Company were greatly valued by the Board. The Board extends its deepest condolences to Mr. Davies’ family.

For further information please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

 

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

 

Parallel Mining Announces Closing of Private Placement

Vancouver, BC, July 21, 2016 – Parallel Mining Corp. (the “Company”) (TSX‑V: PAL) is pleased to announce that the Company has completed a non-brokered private placement of a total of 3,475,000 units at price of $0.10 per unit, raising gross proceeds of $347,500. Each unit consists of one common share and one transferable common share purchase warrant, each warrant entitling the holder to acquire one additional common share of the Company at a price of $0.15 per common share in the first year, $0.20 per common share in the second year and $0.25 per common share in the third year.

The net proceeds will be used for general working capital. All securities issued pursuant to the private placement will be subject to a four-month hold period.

The securities offered pursuant to the private placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended or any U.S. state securities laws and may not be offered or sold in the United States or to United States persons absent registration or any applicable exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES

For further information please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

 

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Parallel Mining Announces Closing of Final Tranche of Private Placement

Vancouver, BC, June 13, 2016 – Parallel Mining Corp. (the “Company”) (TSX‑V: PAL) is pleased to announce that the Company has completed the third and final tranche of a non-brokered private placement issuing an additional 1,100,000 units at price of $0.05 per unit, for gross proceeds of $55,000. Each unit consists of one common share and one transferable common share purchase warrant, each warrant entitling the holder to acquire one additional common share of the Company at a price of $0.15 per common share in the first year, $0.20 per common share in the second year and $0.25 per common share in the third year.

The Company paid finder’s fees of 8% cash and 8% warrants to Mackie Research Capital Corporation and Haywood Securities Inc.

The net proceeds will be used to fund property option obligations and exploration on the Garsay mineral exploration property in Burkina Faso and for general working capital. All securities issued pursuant to the private placement will be subject to a four-month hold period.

The securities offered pursuant to the private placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended or any U.S. state securities laws and may not be offered or sold in the United States or to United States persons absent registration or any applicable exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES

For further information please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Parallel Mining Announces Second Tranche Closing of Private Placement

Vancouver, BC, June 6, 2016 – Parallel Mining Corp. (the “Company”) (TSX‑V: PAL) is pleased to announce that the Company has completed the second tranche of a non-brokered private placement of a total of 12,610,000 units at price of $0.05 per unit, raising gross proceeds of $630,500. Each unit consists of one common share and one transferable common share purchase warrant, each warrant entitling the holder to acquire one additional common share of the Company at a price of $0.15 per common share in the first year, $0.20 per common share in the second year and $0.25 per common share in the third year.

The Company paid finder’s fees of 9% cash on the gross proceeds raised by PI Financial Corp. and Global Securities Corporation and 8% cash and 8% warrants to Canaccord Genuity Corp., Haywood Securities and GMP Securities LP.

The net proceeds will be used to fund property option obligations and exploration on the Garsay mineral exploration property in Burkina Faso and for general working capital. All securities issued pursuant to the private placement will be subject to a four-month hold period.

Insiders of the Company subscribed for an aggregate of 330,000 units, with Allan John Fabbro, a director of the Company, subscribing for 300,000 units and Len Davies, a director of the Company, subscribing for 30,000 units. As a result, the private placement is a related party transaction (as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”)). The Company relied upon the “Issuer Not Listed on Specified Markets” and “Fair Market Value Not More Than $2,500,000” exemptions from the formal valuation and minority shareholder approval requirements, respectively, under MI 61-101.

As a result of the private placement: (i) Mr. Fabbro’s beneficial ownership of common shares of the Company (“Beneficial Ownership”) decreased from 2.32% to 1.39% of the issued and outstanding common shares of the Company, and (ii) Mr. Davies’ Beneficial Ownership increased from Nil to 0.17%. The private placement was unanimously approved by the board of directors of the Company, with Messrs. Fabbro and Davies each having declared his interest and abstained from approving any issuance of units to himself.

The securities offered pursuant to the private placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended or any U.S. state securities laws and may not be offered or sold in the United States or to United States persons absent registration or any applicable exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES

For further information please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Parallel Mining Announces Non-Brokered Private Placement

Vancouver, BC, June 3, 2016 – Parallel Mining Corp. (the “Company”) (TSX‑V: PAL) is pleased to announce that the Company proposes to raise up to $300,000 through a non-brokered private placement of up to 3,000,000 units at price of $0.10 per unit. Each unit will consist of one common share and one transferable common share purchase warrant, each warrant entitling the holder to acquire one additional common share of the Company at a price of $0.15 per common share in the first year, $0.20 per common share in the second year and $0.25 per common share in the third year.

The securities offered pursuant to the Private Placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended or any U.S. state securities laws and may not be offered or sold in the United States or to United States persons absent registration or any applicable exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES

For further information please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Parallel Mining Announces Increase of Units in Second Tranche Private Placement

Vancouver, BC, May 16, 2016 – Parallel Mining Corp. (the “Company”) (TSX‑V: PAL) announces that, further to its news releases of April 7, 2016, April 26, 2016, May 3, 2016 and May 12, 2016, it wishes to increase the previously announced private placement of units from 12,000,000 units at $0.05 to 16,000,000 units at $0.05 for total gross proceeds of up to $800,000. A total of 2,900,000 units were sold in the first tranche, and a further 13,100,000 units are being offered pursuant to the second tranche. Each unit consists of one common share and one transferable common share purchase warrant, each warrant entitling the holder to acquire one additional common share of the Company at a price of $0.15 per common share in the first year, $0.20 per common share in the second year and $0.25 per common share in the third year.

The Company plans to use the proceeds of the private placement to fund property option obligations and exploration on the Garsay mineral exploration property in Burkina Faso, and for general working capital.

The Company continues to work towards the closing of the previously announced acquisition of 0909189 B.C. Ltd. and its property option rights in Burkina Faso (see the Company’s new release dated April 28, 2015). Due to market conditions, the two parties have agreed to extend the drop dead date of the agreement until June 30, 2016. As the acquisition is currently in progress, the Company reminds the investors who are participating in the private placement that there is no guarantee that the transaction will be consummated and closing of the private placement is not subject to completion of the acquisition. In the event the acquisition does not complete, the use of funds will be reallocated.

The Company confirms that there is no material fact or material change about the Company that has not already been generally disclosed. Closing of the private placement is subject to a number of conditions, including receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES

For further information please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Parallel Mining Announces Increase of Units in Second Tranche Private Placement

Vancouver, BC, May 12, 2016 – Parallel Mining Corp. (the “Company”) (TSX‑V: PAL) announces that, further to its news releases of April 7, 2016, April 26, 2016 and May 3, 2016, it wishes to increase the previously announced private placement of units from 8,000,000 units at $0.05 to 12,000,000 units at $0.05 for total gross proceeds of up to $600,000. A total of 2,900,000 units were sold in the first tranche, and a further 9,100,000 units are being offered pursuant to the second tranche. Each unit consists of one common share and one transferable common share purchase warrant, each warrant entitling the holder to acquire one additional common share of the Company at a price of $0.15 per common share in the first year, $0.20 per common share in the second year and $0.25 per common share in the third year.

The Company plans to use the proceeds of the private placement to fund property option obligations and exploration on the Garsay mineral exploration property in Burkina Faso, and for general working capital.

The Company continues to work towards the closing of the previously announced acquisition of 0909189 B.C. Ltd. and its property option rights in Burkina Faso (see the Company’s new release dated April 28, 2015). Due to market conditions, the two parties have agreed to extend the drop dead date of the agreement until June 30, 2016. As the acquisition is currently in progress, the Company reminds the investors who are participating in the private placement that there is no guarantee that the transaction will be consummated and closing of the private placement is not subject to completion of the acquisition. In the event the acquisition does not complete, the use of funds will be reallocated.

The Company confirms that there is no material fact or material change about the Company that has not already been generally disclosed. Closing of the private placement is subject to a number of conditions, including receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES

For further information please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Parallel Mining Announces Second Tranche of Private Placement

Vancouver, BC, May 3, 2016 – Parallel Mining Corp. (the “Company”) (TSX‑V: PAL) announces that, further to its news releases of March 11 and 18, 2016 and April 7, 2016, it is proceeding with a second tranche of the previously announced proposed private placement of up to 8,000,000 units. The units are being offered at a price of $0.05 per unit, for gross proceeds of up to $400,000. A total of 2,900,000 units were sold in the first tranche, and a further 5,100,000 units are being offered pursuant to the second tranche. Each unit consists of one common share and one transferable common share purchase warrant, each warrant entitling the holder to acquire one additional common share of the Company at a price of $0.15 per common share in the first year, $0.20 per common share in the second year and $0.25 per common share in the third year.

The Company plans to use the proceeds of the private placement to fund property option obligations and exploration on the Garsay mineral exploration property in Burkina Faso, and for general working capital.

The Company continues to work towards the closing of the previously announced acquisition of 0909189 B.C. Ltd. and its property option rights in Burkina Faso (see the Company’s new release dated April 28, 2015). Due to market conditions, the two parties have agreed to extend the drop dead date of the agreement until June 30, 2016. As the acquisition is currently in progress, the Company reminds the investors who are participating in the private placement that there is no guarantee that the transaction will be consummated and closing of the private placement is not subject to completion of the acquisition. In the event the acquisition does not complete, the use of funds will be reallocated.

The Company confirms that there is no material fact or material change about the Company that has not already been generally disclosed. Closing of the private placement is subject to a number of conditions, including receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES

For further information please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Parallel Mining Announces Change to Acquisition Terms

Vancouver, BC, April 29, 2016 – Parallel Mining Corp. (the “Company”) (TSX‑V: PAL) has amended the previously announced agreement to acquire 0909189 B.C. Ltd. (“0909189”) and its property option rights in Burkina Faso (see the Company’s new release dated April 28, 2015). As amended, the Company will issue 7,590,000 common shares in exchange for all of the issued and outstanding shares of 0909189 on a one-for-one basis. All other elements of the agreement remain the same.

The primary asset held by 0909189 is an option to earn a 100% interest in the 165.74 km2 Garsay mineral exploration permit in a highly prospective greenstone gold belt located in Burkina Faso, West Africa. The permit is located in the province of Soum, approximately 250 kilometers north-east of the capital city of Ouagadougou and approximately 30 kilometers east of the Inata Gold Mine and Souma deposit owned by Avocet Mining PLC. (135,000 oz/ year gold production and 6.1 million ounces of gold).

This transaction remains subject to TSX Venture Exchange approval and the Company having completed its due diligence on 0909189 and resolving all matters arising therefrom to the Company’s satisfaction.

For further information please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Parallel Mining Announces Extension to Complete Second Tranche Private Placement

Vancouver, BC, April 26, 2016 – Parallel Mining Corp. (the “Company”) (TSX‑V: PAL) announces that, further to its news releases of March 11, 2016, March 18, 2016 and April 7, 2016, it is proceeding with a second tranche of the previously announced proposed private placement of up to 8,000,000 units. The units are being offered at a price of $0.05 per unit, for gross proceeds of up to $400,000. A total of 2,900,000 units were sold in the first tranche, and a further 5,100,000 units are being offered pursuant to the second tranche. Each unit consists of one common share and one transferable common share purchase warrant, each warrant entitling the holder to acquire one additional common share of the Company at a price of $0.15 per common share in the first year, $0.20 per common share in the second year and $0.25 per common share in the third year.

The Company plans to use the proceeds of the private placement to fund property option obligations and exploration on the Garsay mineral exploration property in Burkina Faso, and for general working capital.

The Company continues to work towards the closing of the previously announced acquisition of 0909189 B.C. Ltd. and its property option rights in Burkina Faso (see the Company’s new release dated April 28, 2015). Due to market conditions, the two parties have agreed to extend the drop dead date of the agreement until June 30, 2016. As the acquisition is currently in progress, the Company reminds the investors who are participating in the private placement that there is no guarantee that the transaction will be consummated and closing of the private placement is not subject to completion of the acquisition. In the event the acquisition does not complete, the use of funds will be reallocated.

The Company confirms that there is no material fact or material change about the Company that has not already been generally disclosed. Closing of the private placement is subject to a number of conditions, including receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES

For further information please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Parallel Mining Announces Second Tranche of Private Placement

Vancouver, BC, April 7, 2016 – Parallel Mining Corp. (the “Company”) (TSX‑V: PAL) announces that, further to its news releases of March 11 and 18, 2016, it is proceeding with a second tranche of the previously announced proposed private placement of up to 8,000,000 units. The units are being offered at a price of $0.05 per unit, for gross proceeds of up to $400,000. A total of 2,900,000 units were sold in the first tranche, and a further 5,100,000 units are being offered pursuant to the second tranche. Each unit consists of one common share and one transferable common share purchase warrant, each warrant entitling the holder to acquire one additional common share of the Company at a price of $0.15 per common share in the first year, $0.20 per common share in the second year and $0.25 per common share in the third year.

The Company plans to use the proceeds of the private placement to fund property option obligations and exploration on the Garsay mineral exploration property in Burkina Faso, and for general working capital.

The Company continues to work towards the closing of the previously announced acquisition of 0909189 B.C. Ltd. and its property option rights in Burkina Faso (see the Company’s new release dated April 28, 2015). Due to market conditions, the two parties have agreed to extend the drop dead date of the agreement until June 30, 2016. As the acquisition is currently in progress, the Company reminds the investors who are participating in the private placement that there is no guarantee that the transaction will be consummated and closing of the private placement is not subject to completion of the acquisition. In the event the acquisition does not complete, the use of funds will be reallocated.

The Company confirms that there is no material fact or material change about the Company that has not already been generally disclosed. Closing of the private placement is subject to a number of conditions, including receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES

For further information please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Parallel Mining Announces First Tranche Closing of Non-Brokered Private Placement and Update on Acquisition

Vancouver, BC, March 18, 2016 – Parallel Mining Corp. (the “Company”) (TSX‑V: PAL) is pleased to announce that the Company has completed the first tranche of a non-brokered private placement of a total of 2,900,000 units at price of $0.05 per unit, raising gross proceeds of $145,000. Each unit consists of one common share and one transferable common share purchase warrant, each warrant entitling the holder to acquire one additional common share of the Company at a price of $0.15 per common share in the first year, $0.20 per common share in the second year and $0.25 per common share in the third year.

The Company paid finder’s fees of 8% cash and 8% finder’s warrants on the gross proceeds raised by Canaccord Genuity Corp. The net proceeds will be used for general working capital. All securities issued pursuant to the private placement will be subject to a four-month hold period.

The securities offered pursuant to the private placement have not been, and will not be, registered under the United States Securities Act of 1933, as amended or any U.S. state securities laws and may not be offered or sold in the United States or to United States persons absent registration or any applicable exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Acquisition Update
The Company continues to work towards the closing of the previously announced acquisition of 0909189 B.C. Ltd. and its property option rights in Burkina Faso (see the Company’s new release dated April 28, 2015). Due to market conditions, the two parties have agreed to extend the drop dead date of the agreement until June 30, 2016. As the acquisition is currently in progress, the Company reminds the investors who are participating in the private placement that the nature of a transaction is such that there is no guarantee that the transaction will be consummated.

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES

For further information please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Parallel Mining Announces Closing of Non-Brokered Private Placement and Acquisition Update

Vancouver, BC, February 16, 2016 – Parallel Mining Corp. (TSX-V: PAL) (the “Company”) is pleased to announce that the Company has completed a non-brokered private placement of a total of 1,800,000 units at price of $0.05 per unit, raising gross proceeds of $90,000. Each unit consists of one common share and one transferable common share purchase warrant, each warrant entitling the holder to acquire one additional common share of the Company at a price of $0.15 per common share in the first year, $0.20 per common share in the second year and $0.25 per common share in the third year.

The Company paid finder’s fees of 8% cash and 8% finder’s warrants on the gross proceeds raised by Canaccord Genuity Corp. and 9% cash on the gross proceeds raised by PI Financial Corp.

The net proceeds will be used for general working capital. All securities issued pursuant to the Private Placement will be subject to a four-month hold period.

These securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent U.S. 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.

Acquisition Update
The Company continues to work towards the closing of the previously announced acquisition of 0909189 B.C. Ltd. and its property option rights in Burkina Faso (see the Company’s new release dated April 28, 2015). Due to market conditions, the two parties have agreed to extend the drop dead date of the agreement until June 30, 2016.

For further information please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Parallel Mining Corp. Announces Private Placement

Vancouver, BC, November 23, 2015 – Parallel Mining Corp. (TSX-V: PAL) (the “Company”) announces a non-brokered private placement of 10,000,000 units (the “Units”) at a price of $0.05 per Unit (the “Offering”). Each Unit will consist of one common share (“Common Share”) in the capital of the Company and one transferable Common Share purchase warrant (“Warrant”). Each Warrant will entitle the holder to purchase one additional Common Share of the Company (“Warrant Share”) for a period of thirty six months from the closing date, at a price of $0.15 per Warrant Share for the first year after the closing date, $0.20 per Warrant Share for the second year after the closing date, and $0.25 per Warrant Share for the third year after the closing date. The net proceeds from the Offering will be used by the Company for general working capital. The Company intends to close the Offering as soon as practicable.

The Offering, including the future issuance of the Common Shares and Warrants, is subject to the final approval of the TSX Venture Exchange. All securities issued will be subject to a hold period of four months and one day pursuant to applicable securities laws.

NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

These securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent U.S. 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.

Contact Information:
Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

Parallel Mining Corp. To Acquire the Right to Earn Interest in Burkina Faso Gold Property

Vancouver, BC, April 28, 2015 – Parallel Mining Corp. (TSX-V: PAL) (the “Company”) is pleased to announce that it has entered into an agreement to acquire an option to earn a 100% interest in a 165.74 km2 exploration permit in a highly prospective greenstone gold belt located in Burkina Faso, West Africa. The Garsay permit is located in the province of Soum, approximately 250 kilometers north-east of the capital city of Ouagadougou and approximately 30 kilometers east of the Inata Gold Mine and Souma deposit owned by Avocet Mining PLC. (135,000 oz/ year gold production and 6.1 million ounces of gold).

The Company signed an agreement with 0909189 BC Ltd. (“0909189”) and 0909189’s shareholders to acquire all of the outstanding shares of 0909189 by issuing one common share of Parallel for each one share of 0909189. 0909189 currently has six million shares issued and outstanding. The primary asset held by 0909189 is the option to acquire the Garsay exploration permit.

The Garsay permit was previously optioned by Newmont Mining Corporation (“Newmont”) until their departure from Burkina Faso. Prior to that, Newmont conducted geophysics, soil sampling and pit sampling along with 12,355 total meters of air core, reverse circulation and diamond core drilling. This substantial existing data has delineated a number of high-grade, drill-ready targets.

The historical data generated by Newmont includes the following significant intercepts from reverse circulation and core drilling programs:

Hole From (m) To (m) Length* (m) Au (gpt)
Diamond Core Drilling
GDD007 130.00193.00 134.00194.00 4.001.00 3.7218.00
GDD004 81.00138.00183.20 82.00141.33183.80 1.003.330.60 11.306.01

10.30

GDD003AndAnd 50.66105.00250.00 52.90108.00253.00 2.243.003.00 9.5424.22

20.38

GDD001 42.0064.00101.00 46.0065.00102.00 4.001.001.00 5.3317.25

11.00

Reverse Circulation Drilling
GRC32And 57.0070.00 59.0072.00 2.002.00 13.18178.50
GRC30 38.00 46.00 8.00 18.30
GRC116 5.00 10.00 5.00 16.32
GRC56And 72.0084.00 76.0082.00 4.003.00 2.7513.17
GRC057 30.0045.0070.0090.00109.00 31.0047.0072.0096.00110** 1.002.002.006.001.00 14.403.82

4.46

8.29

4.13

GRC120 5.00 6.00 1.00 13.00
GRC118 48.00 50.00 2.54 8.43
GRC12 17.00 21.00** 4.75 4.0
*Reported length. Sectional analysis indicates reported length approximates true widths**Indicates end of drill hole

The Company will focus its initial efforts on a high-grade target as defined by geochemical surveying. The present target zone is approximately 1,500 metres in strike length in a NNE-SSW direction. The higher grade gold intercepts are localized within this zone at or near the mafic volcanic/granite-granodiorite contacts in multiple, sub-vertical veins. A granitic body may underlie and ‘core’ the target zone and is considered to be a critical factor in the emplacement of gold-bearing quartz veins. The Company and 0909189 intend to initially conduct a rotary blast drill program to test strike and dip extensions of the known mineralization, along with geophysics and soil surveys.

To earn the 100% interest in the Garsay permit, the Company will pay a total of US$1.18 million in cash payments over a thirty-six month period. The underlying owner of the Garsay permit will retain a 1% net smelter royalty. This transaction is subject to TSX Venture Exchange approval and the Company having completed its due diligence on 0909189 and resolving all matters arising therefrom to the Company’s satisfaction.

Qualified Person: Warren Robb, P.Geo, an independent Qualified Person under NI 43-101, has reviewed and approved the technical data and contents of this release.

Private Placement
The Company also announces a non-brokered private placement of 10,000,000 common shares at a price of $0.05 per share (the “Offering”). The net proceeds from the Offering will be used by the Company to fund initial work on its optioned Burkina Faso mineral exploration permits as well as general working capital. The Company intends to close the Offering as soon as practicable.

The Offering, including the future issuance of the common shares, is subject to the final approval of the TSX Venture Exchange. All securities issued will be subject to a hold period of four months and one day pursuant to applicable securities laws.

About Burkina Faso
Burkina Faso is the fastest growing gold producer in Africa. The Country has tremendous geological potential, as the Birimian Greenstone Belts that host all of the major deposits in Ghana, Cote d’Ivoire and Mali continue into Burkina Faso. This geological setting is analogous to the prolific gold belts of eastern Canada; however, Burkina Faso remains relatively underexplored.

For further information please contact:

Parallel Mining Corp.
John Anderson
President & Chief Executive Officer
T: +1-604-218-7400
E: janderson@parallelmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This news release contains historical technical information. The Company believes the technical information to be relevant and reliable, and there are no more recent estimates or data available to the Company. While the Qualified Person has reviewed the data included in this news release, a 43-101 compliant technical report has not been completed on the Garsay property and the quality assurance/quality control process of the historical data could not be verified by the Qualified Person.

These securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent U.S. 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.

This news release includes certain statements that may be deemed “forward-looking statements.” All statements in this release, other than statements of historical facts, are forward-looking statements. 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 the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, changes in market conditions, unsuccessful exploration results, changes in the price of gold, unanticipated changes in key management personnel and general economic conditions. Mining exploration and development is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company’s forward- looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.