Miocene/Carube Corporate Booth and Core Display at the Prospectors and Developers Association Convention ("PDAC"), March 1-4, 2015 in Toronto

Toronto, Ontario--(Newsfile Corp. - February 26, 2015) - Miocene Resources Limited (TSXV: MII) ("Miocene") and Carube Resources Inc. ("Carube") are pleased to extend an invitation to visit our corporate and core shack booths at the PDAC. We are delighted to share the exciting results from on-going exploration programs at Carube's four copper-gold projects in Jamaica and more specifically drill results from the highly prospective porphyries being drilled on the Bellas Gate Project ("BGP") by joint venture partner, OZ Minerals Limited ("OZM"). Drill core and results will be available for viewing.

During 2014 Carube has made significant progress on its RTO with Miocene. At the same time, OZM has fulfilled the $2.9 million in exploration expenses on the Bella Gate Joint Venture ("BGJV"), thereby earning a 60% interest in the BGP. OZM is currently completing a $3.6 million exploration program in order to increase its interest in the BGP to 70%. This program is scheduled to be completed by the end of year.

Vern Rampton, President & CEO, Carube commented, "I encourage all who are attending the PDAC or who may be in Toronto the week of March 1 to visit our booth at the Investors Exchange and core display at the Core Shack in order to appreciate the tremendous leverage and value that our Jamaican copper-gold projects, particularly the OZ Minerals Bellas Gate Joint Venture, bring to Carube. OZ Minerals' right to joint venture three other projects on similar terms only increases the potential value."

This press release has been prepared by Dr. Vern Rampton, P.Eng, President and CEO of Carube and approved by Mr. Alar Soever, P. Geo., Chairman of Miocene Resources Limited and Dr. Rampton in their capacity as qualified persons as defined under N.I. 43-10. Both share responsibility for the technical contents of the Press Release. All references to "$" are to Canadian dollars.

About Miocene Resources Limited

Miocene is focused on the exploration of three porphyry copper-gold-molybdenum properties in south-western British Columbia that occur within the Tertiary-aged Cascade Magmatic Arc. The Cascade Arc shares many geological characteristics with Tertiary-age porphyry belts that stretch the length of Chile and Peru in South America and hosts some of the world's largest porphyry copper-gold-molybdenum deposits. The Cascade Magmatic Arc hosts a number of significant porphyry Cu-Au and Mo deposits in Washington State, and Alaska (Glacier Peak and Margaret, and Quartz Hill respectively) but remains largely unexplored in British Columbia.

About Carube Resources Inc.

Carube is a Canadian private exploration company focused on the rapid exploration and development of precious metal and copper projects in Jamaica. Its wholly owned subsidiary, Carube Resources Jamaica Ltd., owns, subject to a 2% NSR, a 40% beneficial interest in the Bellas Gate Project, which consists of two highly prospective copper/gold/silver licences covering 84 square kilometres. The Bellas Gate Project is the subject of a joint venture agreement with OZ Minerals Limited. ("OZ Minerals"), a $1.1B Australian copper-gold producer with a proven track record of exploration success. OZ Minerals can earn a 70% interest in the Bellas Gate Project by spending $6,500,000 and making payments totaling $475,000 to Carube commencing January 17, 2014 and over the following 3.5 years; OZ Minerals can then increase its interest a further 10% by completing a feasibility study. OZ Minerals also has the right to fly airborne geophysics over 3 other Carube wholly-owned projects (4 licenses), subject to 2% NSRs, and subsequently invoke separate joint ventures on each project with similar terms to those applicable to the Bellas Gate Project.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

For Further Information

Please visit Miocene's website at www.miocenemetals.com or Carube's website at www.caruberesources.com, or contact:

DISCLAIMERS AND FORWARD-LOOKING STATEMENTS

This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Miocene and Carube (collectively the "Corporations"), including, without limitation, those listed under "Risk Factors" and "Forward-Looking Statements" in Miocene's Management Information Circular dated April 29, 2014 and other public filings (collectively, "forward-looking information"). Forward-looking information in this news release includes, but is not limited to, information concerning the Corporations' expectations regarding the RTO transaction and contemplated financings. The Corporations caution investors about important factors that could cause actual results to differ materially from those projected in any forward-looking statements included in this news release. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and may be forward-looking and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that the expectations set out herein will prove to be correct and accordingly, prospective investors should not place undue reliance on these forward-looking statements. These statements speak only as of the date of this press release and the Corporations do not assume any obligation to update or revise them to reflect new events or circumstances. The Corporations disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.

Completion of the RTO transaction between Carube and Miocene is subject to a number of conditions, including raising the required financing and TSXV final approval. The transaction cannot close until all required approvals are obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the information circulars and/or filing statements to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Miocene should be considered highly speculative.