Goldrock Mines : Lindero Gold Project - Mine Development Update

News Releases

September 21, 2015

Lindero Gold Project - Mine Development Update

Vancouver, British Columbia -- Goldrock Mines Corp. (TSX.V -- GRM)

Goldrock Mines Corp. (the "Company" or "Goldrock") is pleased to announce that basic engineering for construction of the Lindero gold heap leach project is nearing completion. This work is being undertaken by a consortium comprised of SAXUM Ingenieria S.A., an Argentina engineering firm, and Kappes Cassiday & Associates of Reno, Nevada. The work includes the preparation of request for quotation ("RFQ") tender packages for the major construction activities.

The Company anticipates receiving an updated technical report in early November 2015. This report will provide a "re-fresh" of the previously announced April 2013 feasibility study estimates, and will include updated operating costs and go forward capital cost estimates. The report will take into account the project work completed to date, including the HPGR crushing system purchase and delivery, the current long term prices for major project consumables with an emphasis on diesel fuel and cyanide, as well as impacts of the higher Argentina inflation environment and currently strong Argentinean Peso.

Completion of basic engineering, planning and preparation for construction, along with purchase and delivery of the long lead HPGR crushing system, continued to de-risks the costs and timeline for full construction implementation, including lowering the remaining go forward capital requirement and significantly shortening the project's full construction schedule . Delivery of first ore onto the heap leach pads is now anticipated within 14 months from the commencement of full construction activities.

Work to date has included completion of the following trade-off studies aimed at optimizing project economics and reducing pre-production capital costs:

• Increasing the initial production throughput rate to 18,750 TPD during the first year of operation through an earlier installation of the third cone crusher;
• Investigating the use of truck stacking for the first 3 years instead of conveyors to place ore on the heap leach pad. Truck stacking has the potential to defer this upfront capital while having no impact on heap leach performance;
• The use of alternative heap leach pad liners and pad foundation construction methods;
• An alternative shorter main site access route from Pocitos to Tolar Grande; and
• The use of a contract gas fired power plant similar to the facility recently constructed at Orocobre's Salar de Olaroz lithium project in adjacent Jujuy province.

The Company has identified an alternative 70 kilometre road route from Pocitos to Tolar Grande and has been granted the required permit to commence building the initial access road required in order to undertake full construction activity on this alternative trucking by-pass road. This road is shorter than the existing road and passes through more favourable topography which requires minimal excavation. In addition, 30 kilometers of the planned 70 kilometers of this alternative road has been previously constructed but never used. This will de-risk the schedule and capital construction cost provision to upgrade the site access road from Pocitos to Lindero.

Goldrock has recently acquired a 2 hectare lot in the Pocitos Industrial Park which will be used for infrastructure associated with the planned natural gas fired power station at Lindero. A "Virtual Pipeline" is proposed for Lindero which consists of a mother station installed (gas compressors) in the Pocitos Industrial Park at the termination of the La Puna gas pipeline, a compressed gas receiving station installed at the mine gas fired power station, and a series of trailer trucks to transport the natural gas approximately 150 kilometers by road to the project.

The initial site construction activity will be the earthworks and site preparation, including the heap leach pad and mine and plant access roads. In Q2-2015, Ausenco Limited was awarded the basic engineering package specifically for the geotechnical and design of the project's heap leach pad. Ausenco has had a long successful history in Argentina and has advised on the construction and operation of several major gold heap leach projects in South America including Valadero, one of the world's largest heap leach gold mines located in San Juan Province, Argentina.

For project water supply the Company has licenced and completed bores with total capacity of over 300 cubic metres per hour, with long term water requirements estimated at only 90 cubic metres per hour. This comprises five bore holes; three at the mine site and two process water production bores.

Paul Matysek, President and CEO of the Company, commented "With the HPGR unit delivered into Argentina, the purchase of land in Pocitos, the completion of the project's water supply wells and the timely progress of the basic engineering including the preparation of construction bid packages, the Company is positioning itself for a smooth transition into full construction. It is also noted that all three leading Presidential candidates have recently expressed strong public support for a sustainable mining industry in Argentina which bodes well for the future business environment."

For additional information contact:
Paul Matysek
604-681-4462 or www.goldrockmines.com

About Goldrock Mines Corp.

Goldrock Mines Corp. is an emerging gold producer focused on the development of its 100% owned Lindero gold deposit located in Salta province, northwestern Argentina. The Company has been granted the primary mining permit by the Salta provincial government allowing the Company to develop the Lindero open pit, heap leach gold mine. Lindero's Feasibility Study results are economically robust at current gold prices. Production will be at an initial throughput rate of 15,000 TPD, increasing to 18,750 TPD during the first year of operation. Average annual production is anticipated to average 129,000 ounces over the first three years of production and to average 109,000 ounces during the first nine years.

Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward-Looking Statements

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Goldrock within the meaning of applicable securities laws, including, but not limited to statements with respect to those that address the intended use of proceeds of the Offering, potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans. Forward-looking information is often, but not always, identified by the use of words such "plan," "expect", "budget", "target", "project", "intend," "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licences and permits and obtaining required licences and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Goldrock and there is no assurance they will prove to be correct.

Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, the expected benefits to the Company from Orion's investment; risks related to the interpretation of results at the Lindero gold Project; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration.

Although Goldrock has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Goldrock disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.