Menika to Acquire Nevada Lithium Assets

MENIKA MINING LTD.

Suite 313, 515 West Pender Street Vancouver, British Columbia V6B 6H5

NEWS RELEASE

MENIKA TO ACQUIRE NEVADA LITHIUM ASSETS

March 8, 2016 – Vancouver, British Columbia – Menika Mining Ltd. (the “Company”) (TSXV: MML) is pleased to announce that it has entered into an agreement to acquire all of the outstanding share capital of 1032701 B.C. Ltd. (“1032701). 1032701 is a privately held mineral exploration company which holds a right to acquire a series of ninety-eight (98) association placer claims, comprising a total of 7840 acres, located in Esmeralda County, Nevada, and known as the “Fish Lake Valley Project” from Lithium Corp.

In consideration for all of the outstanding share capital of 1032701, the Company will issue 4,000,000 common shares, and will assume 1032701’s obligations in respect of the Fish Lake Valley Project. In order to complete the acquisition of the Fish Lake Valley Project from Lithium Corp., the Company will be required to complete certain cash payments and exploration expenditures, as well as the issuance of up to 400,000 common shares, over a period of two (2) years.

All securities issued in connection with the acquisition of 1032701, and the Fish Lake Valley Project, will be subject to a four-month-and-one-day statutory hold period. Closing of the acquisition remains subject to a number of conditions, including approval of the TSX Venture Exchange, and such other conditions as are customary in transactions of this nature.

Further information will be provided in due course.

For further information, contact Michael Kobler at [email protected].

On behalf of the Board,

Menika Mining Ltd.

Michael Kobler, Chief Executive Officer

Neither 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.

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