Orca Gld Inc. 2000-885 West Gergia St. Vancuver, B.C., V6C 3E8, Canada Tel: +1 604 689 7842 Fax: +1 604 689 4250 NEWS RELEASE Mineral Resurce Update fr Blck 14 Gld Prject, High-Grade Undergrund Ptential, and Psitive Results n Liseiwi Target Vancuver, Canada, February 2, 2017 Orca Gld Inc. (TSX.V:ORG) ( Orca r the Cmpany ) is pleased t annunce an updated Mineral Resurce Estimate n the Cmpany s Blck 14 Gld Prject in the Republic f the Sudan, and prvide guidance n the high-grade undergrund ptential at Blck 14. Highlights Drilling within the Preliminary Ecnmic Assessment ( PEA ) pit shells has cnfirmed the Mineral Resurce and reduced the Inferred Resurces t less than 3% f ttal materials within thse shells: The updated Mineral Resurce estimate, using a cut-ff grade f 1.0g/t, cmprises an Indicated Resurce f 30.6 Mt grading 1.82g/t fr 1.792 Mz f gld and an Inferred Resurce f 9.7 Mt grading 1.7g/t fr an additinal 0.536 Mz; Drilling at a number f lcatins in Blck 14 (See Figure 1 in this news release) has cnfirmed the ptential f high-grade mineralizatin belw the PEA pit designs: Wadi Dum: fur plunging high grade shts within and at the edge f the current resurce cntain high-grade mineralisatin with intercepts including 25m at 18.40g/t (MET004DD), 27m at 5.47g/t (GSRC615), 30m at 8.06g/t (GSRC542), 30m at 5.83g/t (GSRC690) and 14m at 13.37g/t (GSRC691); Galat Sufar Suth: Intercepts at the ftwall f the Main Zne included 30m at 7.98g/t (GSRC082), 17m at 4.72g/t (GSRC001) and 20m at 7.18g/t (MET007DD) while a high-grade plunging sht intersected 100m suth f the Main Zne ftwall returned intercepts f 19m at 13.6g/t (GSRC003), 16m at 17.97g/t (GSRC081) and 7m at 9.67g/t (GSRC183); Liseiwi Target: Shrt drill prgramme cnfirms high-grade mineralisatin with assay results f 10m at 15.32g/t (GSRC596), 8m at 12.8g/t (GSRC599) and 17m at 5.03g/t (GSRC595). Mineral Resurce Estimate The Mineral Resurce update was undertaken by MPR Gelgical Cnsultants f Perth, Western Australia as part f the Pre-Feasibility Study ( PFS ) currently in prgress. 6,236m f reverse circulatin and 826m f diamnd cre drilling were cmpleted t upgrade Inferred Resurces t Indicated Resurces. The prgramme targeted the 10% f material within the designed pits used in the Preliminary Ecnmic Assessment (see Cmpany News Release n July 26, 2016). Results f the Mineral Resurce update are shwn belw at a range f cut-ff grades: 1 O r c a G l d I n c.
Blck 14 Mineral Resurce Update February 2017 Depsit Cut ff Indicated Inferred Au g/t Mt Au g/t Au kz Mt Au g/t Au kz Galat Sufar Suth 0.50 64.3 1.17 2,426 22.3 1.1 787 0.60 54.1 1.29 2,246 18.3 1.2 716 0.70 45.8 1.41 2,073 15.1 1.3 651 0.80 39.0 1.52 1,909 12.6 1.5 591 0.90 33.3 1.64 1,755 10.6 1.6 535 1.00 28.6 1.75 1,609 9.0 1.7 485 1.10 24.5 1.87 1,473 7.6 1.8 438 1.20 21.1 1.99 1,347 6.4 1.9 395 Wadi Dum 0.50 3.8 1.83 222 2.9 1.1 98 0.60 3.2 2.04 213 2.1 1.3 84 0.70 2.8 2.24 204 1.5 1.5 72 0.80 2.5 2.44 196 1.2 1.7 64 0.90 2.2 2.62 189 0.9 1.9 57 1.00 2.0 2.79 183 0.7 2.2 52 1.10 1.9 2.95 177 0.6 2.4 47 1.20 1.7 3.10 172 0.5 2.6 44 Cmbined 0.50 68.0 1.21 2,648 25.1 1.1 884 0.60 57.3 1.33 2,459 20.3 1.2 800 0.70 48.6 1.46 2,277 16.7 1.3 723 0.80 41.5 1.58 2,105 13.8 1.5 654 0.90 35.6 1.70 1,944 11.5 1.6 592 1.00 30.6 1.82 1,792 9.7 1.7 536 1.10 26.4 1.94 1,650 8.2 1.8 485 1.20 22.8 2.07 1,518 6.9 2.0 439 Ntes: Defined under Canadian Natinal Instrument 43-101 ("NI 43-101"), Standards f Disclsure fr Mineral Prjects. Numbers may nt add up due t runding. In cmparisn t the previus estimate (July 2016), Indicated Resurces have increased by 10% r 159 kz and Inferred Resurces have decreased by 15% r 98kz. The drilling was directed within the PEA design shells and has reduced the Inferred Resurces within thse shells t less than 3% f ttal material. Accrdingly, the infill prgramme has successfully cnfirmed and expanded the PEA resurce estimate. High-Grade Undergrund Ptential Identified The recent infill drill prgramme at Blck 14 has cnfirmed the ptential f high-grade mineralizatin belw the PEA pit designs. Similar ptential has als been identified at the Liseiwi target. Wadi Dum At Wadi Dum, high-grade mineralisatin has been identified in fur plunging high grade shts within r at the edge f the current resurce. Significant intercepts include: 25m at 18.4g/t (MET004DD), 27m at 5.47g/t (GSRC615), 30m at 8.06g/t (GSRC542), 30m at 5.83g/t (GSRC690) and 14m at 13.37g/t (GSRC691), ccurring at, 2 O r c a G l d I n c.
clse t the base f, r at the edge f the PEA design pit. (See Figure 2 in this news release). Galat Sufar Suth At Galat Sufar Suth, high grades were intersected at the ftwall f the Main Zne (Main Zne FW) f the depsit where intercepts f 30m at 7.98g/t (GSRC082), 17m at 4.72g/t (GSRC001) and 20m at 7.18g/t (MET007DD) were received. In additin, a high-grade plunging sht (320 Zne Sht) was intersected 100m suth f the Main Zne ftwall returning intercepts f 19m at 13.6g/t (GSRC003), 16m at 17.97g/t (GSRC081) and 7m at 9.67g/t (GSRC183) (See Figure 3 in this news release). Liseiwi Target - Cnfirmed High-Grade Mineralizatin In late 2016, the Cmpany cmpleted a shrt prgramme f seven reverse circulatin hles at the Liseiwi prspect, 15km nrth f Wadi Dum. Assay results are highlighted by intersects f 10m at 15.32g/t (GSRC596), 8m at 12.8g/t (GSRC599) and 17m at 5.03g/t (GSRC595). (See Figure 4 in this news release). Explratin in the first half f 2017 will fcus n further develping Liseiwi as a high-grade target within the prject area, as well as n the undergrund ptential at Wadi Dum and Galat Sufar Suth, by extending the high-grade mineralizatin t depth). Cmmenting n these updates at Blck 14, Rick Clark, CEO and Directr f Orca, said, The updated Mineral Resurce achieved exactly what was planned with the cnversin f mst f the Inferred Mineral resurces within the PEA design shells int the Indicated categry. The new Resurce will frm the basis f the PFS and declaratin f the first Mineral Reserves n the prject. The cnversin prgramme als cnfirmed the ptential f high-grade undergrund ptins at bth the Wadi Dum and Galat Sufar Suth depsits. Furthermre, the cnfirmatin f high-grade mineralizatin at the Liseiwi target, nrth f Wadi Dum, culd represent an expanded develpment pprtunity at Blck 14. We lk frward t annuncing the results f the upcming drill prgrammes as they becme available. Abut Orca Gld Inc. Orca Gld Inc. (TSX-V: ORG) is a Canadian resurce cmpany fcused n explratin and develpment pprtunities in Africa, where it is currently fcused n the develpment f its 70%-wned Blck 14 prject in the Republic f the Sudan. The Cmpany has an experienced bard f directrs and management team and a strng balance sheet, with a treasury in excess f $9.5 millin as at December 31, 2016. The technical cntents f this release have been apprved by Hugh Stuart, BSc, MSc, a Qualified Persn pursuant t Natinal Instrument 43-101. Mr. Stuart is the President f the Cmpany and a Chartered Gelgist and Fellw f the Gelgical Sciety f Lndn. The Mineral Resurce estimate was carried ut by Nic Jhnsn f MPR Gelgical Cnsultants f Perth, Western Australia wh is cnsidered t be independent f Orca Gld Inc. Mr. Jhnsn is a member in gd standing f the Australian Institute f Gescientists and has sufficient experience which is relevant t the cmmdity, style f mineralizatin under cnsideratin and activity which he is undertaking t qualify as a Qualified Persn under Natinal Instrument 43 101. Mr. Jhnsn cnsents t the inclusin in this press release f the infrmatin, in the frm and cntext in which it appears. Samples used fr the results described herein are prepared and analyzed by fire assay using a 50 gram charge at the ALS Chemex facility at Rsia Mntana in Rmania in cmpliance with industry standards. Field duplicate samples are taken and blanks and standards are added t every batch submitted. Fr Further Infrmatin, Cntact: Elina Chw Investr Relatins 416.645.0935 x 226 inf@rcagld.cm 3 O r c a G l d I n c.
Figure 1 Blck 14, Shwing Galat Sufar Suth and Wadi Dum Depsits as well as Liseiwi Target Figure 2 High-Grade Shts Within Wadi Dum Depsit 4 O r c a G l d I n c.
Figure 3 Main Zne Ftwall Structure and 320 Zne High-Grade Sht within Galat Sufar Suth Figure 4 Liseiwi Target High-Grade Drill Sectin 5 O r c a G l d I n c.
Cautinary Statement Regarding Frward-Lking Infrmatin This press release cntains frward-lking infrmatin and frward-lking statements within the meaning f applicable Canadian securities laws, including statements regarding Orca s (the Cmpany, the Crpratin, we r ur ) plans and expectatins relating t the Blck 14 prject ( Blck 14 ) in nrthern Sudan and the Pre-Feasibility Study ( PFS ) currently being cnducted by the Crpratin. These statements relate t analyses and ther infrmatin that are based n frecasts f future results, estimates f amunts nt yet determinable and assumptins f management. Statements cncerning mineral resurce estimates may als be deemed t cnstitute frward-lking statements t the extent that they invlve estimates f the mineralizatin that will be encuntered if the prperty is develped. The assumptins, risk and uncertainties utlined belw are nn-exhaustive. Shuld ne r mre f these risks and uncertainties materialize, r shuld underlying assumptins prve incrrect, actual results, perfrmance r achievements f the Crpratin, r industry results, may vary materially frm thse described in this presentatin. Any statements that express r invlve discussins with respect t predictins, expectatins, beliefs, plans, prjectins, bjectives, assumptins r future events r perfrmance (ften, but nt always, identified by wrds r phrases such as expects, anticipates, believes, plans, prjects, estimates, assumes, intends, strategy, gals, bjectives, ptential, pssible r variatins theref r stating that certain actins, events, cnditins r results may, culd, wuld, shuld, might r will be taken, ccur r be achieved, r the negative f any f these terms and similar expressins) are nt statements f histrical fact and may be frward-lking statements. Frward-lking statements and frward-lking infrmatin are nt guarantees f future perfrmance and are based upn a number f estimates and assumptins f management at the date the statements are made including withut limitatin, assumptins abut the fllwing (the Frward-Lking Factrs ): future prices f gld and ther metals; successful explratin, develpment, and prductin f Blck 14; the timing and cmpletin f the PFS; perfrmance f cntractual bligatins by cunterparties; perating cnditins; plitical stability; btaining gvernmental apprvals and financing n time; financial prjectins and budgets; btaining licenses and permits; gvernment regulatin f the Crpratin s mining activities; envirnmental risks and expenses; market cnditins; the securities market; price vlatility f the Crpratin s securities; currency exchange rates; freign mining tax regimes; insurance and uninsured risks; financial prjectins and results; cmpetitin; availability f sufficient capital, infrastructure, equipment and labur; dependence n key persnnel; dependence n utside parties; cnflicts f interest; litigatin; land title issues; lcal cmmunity issues; estimatin f mineral resurces; realizatin f mineral resurces; timing and amunt f estimated future prductin; the life f Blck 14; reclamatin bligatins; changes in prject parameters as plans cntinue t be evaluated; and anticipated csts and expenditures and ur ability t achieve the Crpratin s gals. While we cnsider these assumptins t be reasnable, the assumptins are inherently subject t significant business, scial, ecnmic, plitical, regulatry, cmpetitive and ther risks and uncertainties, cntingencies, many f which are based n factrs and events that are nt within the cntrl f the Crpratin and there is n assurance they will prve t be crrect. Frward-lking statements are subject t a variety f knwn and unknwn risks, uncertainties and ther factrs that culd cause actual events r results t differ frm thse reflected in the frward-lking statements, including, withut limitatin knwn and unknwn risks, uncertainties and ther factrs relating t the Frward-Lking Factrs abve, and thse factrs disclsed under the heading Risk Factrs in the Crpratin s dcuments filed frm time t time with the securities regulatrs in the prvinces f Canada. In additin, a number f ther factrs culd cause the actual results, perfrmance r achievements f the Crpratin t differ materially frm any future results, perfrmance r achievements expressed r implied by the frward-lking infrmatin, and there is n assurance that the actual results, perfrmance r achievements f the Crpratin will be cnsistent with them. Fr further details, reference is made t the risk factrs discussed r referred t in the Crpratin s annual and interim management s discussin and analyses n file with the Canadian securities regulatry authrities and available electrnically n the SEDAR website at www.sedar.cm. Althugh the Crpratin has attempted t identify imprtant factrs that culd cause actual actins, events, results, perfrmance r achievements t differ materially frm thse described in frward-lking statements and frward-lking infrmatin, there may be ther factrs that cause actins, events, results, perfrmance r achievements nt t be as anticipated, estimated r intended. There can be n assurance that frward-lking statements r infrmatin will prve t be accurate, as actual results and future events culd differ materially frm thse anticipated in such statements. Such frward-lking statements and infrmatin are made r given as at the date f this presentatin and the Crpratin disclaims any intentin r bligatin t update r revise any frward-lking statements, whether as a result f new infrmatin, future events r therwise, except as 6 O r c a G l d I n c.
required under applicable securities law. The reader is cautined nt t place undue reliance n frward-lking statements r frward-lking infrmatin. Neither the TSX Venture Exchange nr its Regulatin Services Prvider (as that term is defined in the plicies f the TSX Venture Exchange) accepts respnsibility fr the adequacy r accuracy f this release. 7 O r c a G l d I n c.