Menika Completes First Tranche of Private Placement

MENIKA MINING LTD.

Suite 313, 515 West Pender Street Vancouver, British Columbia V6B 6H5

NEWS RELEASE

MENIKA COMPLETES FIRST TRANCHE OF PRIVATE PLACEMENT

April 1, 2016 – Vancouver, British Columbia – Menika Mining Ltd. (the “Company”) (TSXV: MML) is pleased to announce that it has completed an initial tranche of its previously announced private placement, for gross proceeds of $1,285,000. In connection with completion of this tranche, the Company has issued 5,140,000 units (each, a “Unit”), at a price of $0.25 per Unit. Each Unit consist of one common share of the Company, and one-half-of-one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable to acquire one additional common share of the Company at a price of $0.50 per share for a period of forty-eight months.

The Company has paid finder’s fees of $58,000 to persons introducing subscribers to the Company in this initial tranche. All securities issued in connection with the private placement are subject to a four-monthand-one-day statutory hold period. The Company anticipates completing a further tranche of the private placement, for gross proceeds of $215,000, and will issue a further a news release once this final tranche is complete.

For further information, contact Michael Kobler at [email protected].

On behalf of the Board,

Menika Mining Ltd.

Michael Kobler, Chief Executive Officer

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

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