Vancouver, BC – December 22, 2016 – Velocity Minerals Ltd. (the “Company”) (TSXV / NEX: VLC.H)

At the Company’s annual general meeting held December 21, 2016, shareholders approved the following items:

1. Election of Directors – Each of Paul Larkin, Joseph Martin and Jonathan Younie,  management’s nominees were re-elected as directors, and Jeffrey B. Lightfoot was elected as a new director. The Company’s Board is now comprised of: Paul Larkin (CEO), Jonathan L. Younie, Joseph Martin and Jeffrey B. Lightfoot.
2. Re-appointment of Auditor - De Visser Gray LLP, Chartered Professional Accountants, were re-appointed as auditor for the Company for the ensuing year.
3. Audited Financial Statements for the Fiscal Year Ended June 30, 2016 – The Company’s audited financial statements for its most recently completed fiscal year were approved.
4. Stock Option Plan – The Company’s 10% rolling stock option plan was ratified and approved.

On behalf of the Board of Directors,

Paul A. Larkin

CEO

Telephone:  (604) 687-7767

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.