Questcorp Mining revises private placement

Mr. Saf Dhillon reports QUESTCORP MINING PROVIDES UPDATE ON PRIVATE PLACEMENT Questcorp Mining Inc. has revised the terms of its previously announced non-brokered private placement. The company will now offer up to 7.5 million AI units at a price of 20 cents per AI unit for gross proceeds of up to $1.5-million pursuant to the accredited investor exemption under Section 2.3 of National Instrument 45-106, Prospectus Exemptions. In addition, the company will also offer up to 11,111,112 units at a price of 18 cents per LIFE unit for gross proceeds of up to $2-million pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106. Each AI unit will consist of one common share of the company and one-half of one share purchase warrant. Each AI warrant will entitle the holder to acquire an additional common share of the company at a price of 30 cents for a period of 24 months following closing of the offering, subject to accelerated expiry in the event the closing price of the shares is 50 cents or higher for 10 consecutive trading days. Each LIFE unit will consist of one share and one-half of one share purchase warrant. Each LIFE warrant will entitle the holder to acquire an additional common share of the company at a price of 24 cents for a period of 24 months following closing of the offering. The company expects to utilize the proceeds of the offering for advancement of continuing exploration and drill work at the La Union gold and silver project, coming exploration work at the North Island copper property, and general working capital purposes. The company anticipates that United Kingdom-based institutional investor, Sorbie Bornholm LP, will participate in a portion of the offering. There is an offering document related to the offering that will be made available under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision. In connection with completion of the offering, the company will pay finders' fees to eligible third parties that have introduced subscribers to the offering. All securities issued in connection with the accredited investor exemption will be subject to restrictions on resale for a period of four months and one day in accordance with applicable securities laws. All securities issued in connection with the listed issuer financing exemption will not be subject to a hold period. Completion of the offering remains subject to receipt of regulatory approvals. About Questcorp Mining Inc. Questcorp Mining is engaged in the business of the acquisition and exploration of mineral properties in North America, with the objective of locating and developing economic precious and base metals properties of merit. The company holds an option to acquire an undivided 100-per-cent interest in and to mineral claims totalling 1,168.09 hectares comprising the North Island copper property on Vancouver Island, British Columbia, subject to a royalty obligation. The company also holds an option to acquire an undivided 100-per-cent interest in and to mineral claims totalling 2,520.2 hectares comprising the La Union project located in Sonora, Mexico, subject to a royalty obligation. We seek Safe Harbor.