Reservoir Capital Corp RSERF

Reservoir Reports Exploration Progress

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Reservoir Capital Corp. ("Reservoir" or the "Company") (TSX
VENTURE:REO)(FRANKFURT:ROC)(BERLIN:ROC) is pleased to provide a progress
report on the work being carried out with Freeport-McMoRan Exploration
Corporation ("Freeport") on the Company's Timok Project in east Serbia.
Reservoir and Freeport geologists and consultants have completed further
detailed mapping and surface sampling along with an extensive program of
induced polarization, magnetic and CSAMT (controlled-source
audio-magneto-telluric) geophysical surveys, targeting copper mineralization.
In addition to this on-going surface work, Freeport has commenced drilling to
test some of the targets generated from the surveys, with the initial program
of 1,775 metres already well advanced on the OK-Target (Ogasu Kucajna) within
the southern Brestovac-Metovnica Permit.
"This is an extensive and highly prospective property package, where only
limited work was conducted historically for deeper copper targets," commented
Miles Thompson, Chairman of the Company. "We are very fortunate to be working
with Freeport, which has the technical and financial resources to explore and
develop such projects."
The 18,279-hectare Timok Project comprises two exploration permits,
Brestovac-Metovnica and Jasikovo-Durlan Potok that lie adjacent to the
Bor-Majdanpek Mining Licenses and which cover northern and southern extensions
of the host structures and geology of the Bor copper deposits. In March 2010,
the Company entered into an agreement whereby Freeport may earn up to a 75%
interest in the Timok Project (see Company NR of June 21, 2010 for details).
Freeport may earn an initial 55% interest in the project by investing US$3
million in exploration by March 2014.
The Bor-Majdanpek district is a world class copper-gold mining district with
reported historical production of approximately 6 million tonnes of copper and
300 tonnes of gold (BRGM publication BRGM/RC-51448-FR). The current combined
resources and reserves at the RTB Bor mining complex are stated on their
website (www.rtbbor.com) to be 2.5 billion tonnes in a number of different
deposits, with total copper and gold metal content of 10.5 million tonnes and
11.7 million ounces respectively. The RTB Bor resources and reserves were
calculated according to the Serbian system for reporting Resources and
Reserves, which are not compliant with National Instrument 43-101 guidelines
and should not be relied on, but the Company considers that they are relevant
to the assessment of the Timok Project.