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.