Velocity Minerals Provides Corporate Update

Vancouver, BC – August 5, 2015 – Velocity Minerals Ltd. (the “Company”) (TSXV: VLC.H) announces the following:

1. Mr. Kenneth Holmes has resigned as a director and Chairman of the Company, and Joseph Martin has been appointed as a director to fill that vacancy.

2. Pursuant to the TSX Venture Exchange “Other Discretionary Waivers Policy”, the Company intends to undertake a non-brokered private placement of 12,000,000 shares at a price of $0.005 per share to qualified investors, to raise up to $60,000. Proceeds of the offering will be used for the payment of urgent liabilities (excluding any salaries) and audit costs.

3. As a consequence of undertaking a private placement at less than $0.05 per share, the Company will be subsequently implementing a share consolidation on the basis of at least one new common share for every ten outstanding common shares in the capital stock of the Company.

On behalf of the Board of Directors,

D. Barry Lee, Director

Telephone: (604) 689-7411 www.velocityminerals.com

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.

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