First Pursuit Closes First Tranche of Private Placement

Vancouver, B.C., Canada September 28, 2012 NEWS RELEASE

FIRST PURSUIT CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Vancouver, British Columbia – Silver Pursuit Resources Ltd. (TSX-V: SPF) (the “Company”) is pleased to announce that it has closed a first tranche of its non-brokered private placement of 1,300,000 units (the “Unit”) at a price of $0.10 per Unit (collectively the “Financing”). An aggregate of 1,300,000 common shares and 1,300,000 transferable common share purchase warrants ("Warrants") were issued in connection with the Private Placement. Each Warrant will entitle its holder to subscribe for one additional Share at $0.20 per Share for two (2) years from completion of the Financing. The 1,300,000 common shares and all warrant shares issued are subject to a four-month hold period.

Finders fees paid include: an aggregate of $10,400 in cash and 104,000 in finders’ warrants payable to a registered dealer, where each finders’ warrant will entitle its holder to subscribe for one common share at $0.20 per Share for two (2) years from completion of the Financing.

Proceeds from the Financing will be used to fund the Company’s La Quintera property in Sonora, Mexico, working capital and for its general expenses.

ON BEHALF OF SILVER PURSUIT RESOURCES LTD.

"Adrian Robertson"

Adrian Robertson President and Director

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