TORONTO, ONTARIO--(Marketwired - June 6, 2016) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Pasinex Resources Limited (CSE:PSE)(FRANKFURT:PNX) (the "Company" or "Pasinex") today announced it has closed a
non-brokered private placement of 12,000,000 units at a price of $0.05 per unit for gross proceeds of $600,000; twice that which
was anticipated. Each unit consists of one common share and one share purchase warrant exercisable at $0.07 for a period of one
year from closing. The securities issued pursuant to the private placement are subject to a four month and one day regulatory
hold period. Finder's fees were paid as part of this private placement.
The proceeds of this private placement are to bring in international expertise in carbonate replacement deposits to continue
evaluation of the exploration potential of this virtually unexplored Horzum zinc trend; to clear a significant backlog of
unassayed mineralized drill-core and to cover the Company's general and administrative expenses.
"We are delighted to see such strong support for this placement. We appreciate the ongoing support of our board of directors
and existing shareholders. I am pleased to welcome some new shareholders from both Europe and Canada. The future looks bright and
we look forward to communicating further progress in 2016," commented Steve Williams, Pasinex President and CEO.
The participation in the Offering by a director of the Company and a company wholly-owned by a director, constitutes a
"related party transaction" as such terms is defined by Multilateral Instrument 61-101 - Protection of Minority Security
Holders in Special Transactions ("MI 61-101"), requiring the Company, in the absence of exemptions, to obtain a formal
valuation for, and minority shareholder approval. The Company is relying on exemptions from the formal valuation and minority
approval requirements of MI 61-101 on the basis that at the time the transaction is agreed to, neither the fair market value of
the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves interested
parties, exceeded 25% of the Company's market capitalization. The related parties acquired a total of 1,700,000 Units at $0.05
per unit for aggregate gross proceeds of $85,000. The participation by the related parties in the Offering was approved by
directors of the Company who are independent of such related parties.
About Pasinex Resources Limited
Pasinex Resources Limited (CSE:PSE)(FRANKFURT:PNX) is a base-metal and precious-metal focused Company with a goal to
build a mid-tier international mining company. The Company's initial priority is to build a prospective portfolio of base-metal
opportunities in Turkey. The Company has a strong technical management team with many years of experience in mineral exploration
and mining project development. The focus of Pasinex is to build a mid-tier zinc company based on their Turkey zinc projects.
The Pinargozu mine is included in the 50-50 company, Horzum Arama Isletme AS (Horzum AS), which is a corporate joint venture
between Pasinex and Turkish mining house, Akmetal Madencilik San ve Tic. AS (Akmetal AS). Akmetal A.S is one of Turkey's largest
family-owned conglomerates with the past-producing Horzum zinc Mine nearby.
Visit our web site at: www.pasinex.com
On Behalf of the Board of Directors
The CSE does not accept responsibility for the adequacy or accuracy of this news release.
This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-looking
statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of the Company
to be materially different from the historical results or from any future results expressed or implied by such forward-looking
statements. Forward-looking statements in this news release include, but are not limited to, statements regarding the use of
proceeds from the Offering. All statements within, other than statements of historical fact, are to be considered forward
looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable
assumptions, including the ability to raise equity and on-going exploration activity, such statements are not guarantees of
future performance and actual results or developments may differ materially from those in forward-looking statements. Factors
that could cause actual results to differ materially from those in forward-looking statements include market prices, continued
availability of capital and financing, exploration results, and general economic, market or business conditions. There can be no
assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such
uncertainties. We do not assume any obligation to update any forward-looking statements.