Rockland Closes Private Placement Financing and Approves New Control Person

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 28, 2014) - Rockland Minerals Corp. (the "Company" or "Rockland"), (TSX VENTURE:RL) announces that it has completed its non-brokered private placement financing for gross proceeds of $850,000 through the sale of17 million flow-through units of the Company ("FT Unit"), at $0.05 per FT Unit, with each FT Unit consisting of one (1) Common Share issued on a flow-through basis within the meaning of the Income Tax Act (Canada) and one-half of one (1) non-transferrable Warrant. Each whole Warrant will be exercisable at $0.10 into one (1) additional common share for a period of 12 months. The offering was originally announced on October 22^nd. The offering was fully subscribed.

Shareholders holding more than 50% of common shares of Rockland Minerals approved Mr. Ned Goodman as a "Control Person" (as defined by the policies of the TSX Venture Exchange) by way of consent resolution. Mr. Ned Goodman subscribed for $700,000 or 14,000,000 Units of the offering. Mr. Goodman's common share position equates to 23.27% on an undiluted basis and 30.58% on a diluted basis.

All of the securities issued pursuant to the second tranche will be subject to a securities law hold period of 4 months and a day ending on March 1, 2015. 

A finder's fee of either cash and/or common shares and warrants ("Finder's Warrants") up to 8% was paid in connection with the private placement offering. Each Finder's Warrant entitles the finder to purchase a non-flow-through common share at a price of $0.10 per share for a period of 12 months.

Rockland intends to use the proceeds from the Private Placement for its exploration on its Quebec mineral exploration properties. The Private Placement is subject to approval from the TSX Venture Exchange.

On behalf of the Board of Directors

Rav Mlait

President and CEO

Rockland Minerals Corp.

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.