Angel Bioventures Agrees to Acquire Huayra Minerals

ANGEL BIOVENTURES INC.

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES

ANGEL BIOVENTURES AGREES TO ACQUIRE HUAYRA MINERALS

Vancouver, British Columbia – September 19, 2016, - Angel Bioventures Inc. TSX.V:DDD.H (“Angel” or the "Company") is pleased to announce that it has entered into a binding Letter of Intent (the “LOI”) with Huayra Minerals Corporation (“Huayra”) dated September 16, 2016. The LOI sets out the key terms of the proposed acquisition by Angel of 100% of the issued and outstanding securities of Huayra (the “Transaction”). The Transaction is an arm’s length transaction and will constitute a “reverse takeover” pursuant to the policies of the TSX Venture Exchange (the “Exchange”). A definitive agreement is being prepared which will set out the detailed terms of the Transaction and which will contain the terms and conditions set out in the LOI as well as other clauses as are customary for transactions of such nature and magnitude.

About Huayra

Huayra was incorporated under the Business Corporations Act (British Columbia) on August 5, 2010 as Meryllion Minerals Corporation, a wholly-owned subsidiary of Meryllion Resources Corporation ("Meryllion"), a company listed on the Canadian Securities Exchange. In June 2015, Huayra changed its name to Huayra Minerals Corporation. In July, 2016, Huayra became an independent company following the sale by Meryllion of all of the issued and outstanding shares of Huayra to a group led by Huayra's Argentina-based management team.

Huayra is a mineral exploration and development company engaged in the acquisition, exploration and development of mineral resource properties in Argentina. Huayra has an agreement ("SSR Agreement") with Silver Standard Resources Inc. ("Silver Standard") to acquire an indirect 100% interest in the Diablillos and M-18 properties in Salta and Chubut Provinces, Argentina. Huayra also has rights in the Cerro Amarillo property in the Province of Mendoza, Argentina and the Samenta property in the Province of Salta, Argentina.

About Angel

Angel was incorporated under the Business Corporations Act (Alberta) on August 31, 1993 and, until 2007, carried on business as an oil and gas exploration and production company. In 2007, the Company filed for and obtained protection from its creditors under the Companies’ Creditors Arrangement Act (“CCAA”). As part of the CCAA proceedings, the Company sold all of its petroleum and natural gas properties and the net proceeds were used to repay the Company's creditors. The CCAA proceedings were concluded in 2009.

In September, 2015, the Company's shareholders approved a continuation of the Company's incorporation from the Province of Alberta to the Province of British Columbia (the "Continuation"). Implementation of the Continuation remains subject to the Company making application to the Alberta Registrar of Corporations and the British Columbia Registrar of Companies. Implementation of the Continuation is a condition precedent to the Transaction.

Proposed Transaction

Prior to the closing of the Transaction, Angel will complete the Continuation from Alberta to British Columbia and then subdivide its common shares on the basis of one old share for five new shares (the “Subdivision”). Following the Subdivision, it is expected that Angel will have approximately 5,944,260 common shares issued and outstanding.

Angel will then acquire all of the issued and outstanding Class A common shares of Huayra in exchange for a like number of common shares of Angel by way of a three-cornered amalgamation involving Angel, Huayra, and a newly incorporated wholly-owned subsidiary of Angel (“Angel Sub”). Huayra and Angel Sub will amalgamate and the amalgamated company will become a wholly-owned subsidiary of Angel. At the same time, the shareholders of Huayra will receive common shares of Angel. It is expected that, upon completion of the Transaction, Angel will have approximately 54,205,493 common shares outstanding (which will include the common shares to be issued in the Concurrent Financing described below) and that Angel's largest shareholder will be Silver Standard, holding 19.9% of Angel's issued and outstanding common shares.

On the closing of the Transaction, it is anticipated that the Company (the "Resulting Issuer") will adopt a new name and will carry on the current business of Huayra. In this regard, the Resulting Issuer will enter into an agreement with Silver Standard providing for the Resulting Issuer's assumption of all of Huayra's obligations under the SSR Agreement. Such obligations include, but are not limited to, Silver Standard’s right under the SSR Agreement to: a free carried equity interest in the Resulting Issuer until the completion of a public offering of $5.0 million or more; participate in future equity financings to maintain its ownership level in the Resulting Issuer for as long as Silver Standard continues to hold more than ten percent of the then issued and outstanding shares of the Resulting Issuer on a non-diluted basis; and receive cash payments of approximately $1.5 million over the first two years and $12.5 million over the following three to five years. The Resulting Issuer also proposes to list as a Tier 2 Issuer on the Exchange.

Following the completion of the Transaction it is anticipated that Angel’s current management will resign and that Huayra will appoint new officers satisfactory to the Exchange to manage the business of the Resulting Issuer. The board of directors of the Resulting Issuer will also be reconstituted to comprise five directors, consisting of three individuals selected by Huayra (including one individual designated by Silver Standard), one individual selected by Angel and one individual to be selected by mutual agreement of the parties. Further information regarding the anticipated officers and directors of the Resulting Issuer will be released when available.

Angel will provide a summary of Huayra's significant financial information in due course, following the financial statements being available.

The completion of the Transaction is subject to a number of conditions, including but not limited to, the execution of a definitive agreement, completion of satisfactory due diligence, completion of the Continuation and the Subdivision, completion of the Concurrent Financing (as defined below), approval of the Transaction by the board of directors and securityholders of Angel and Huayra, to the extent required, and regulatory approval, including approval of the Exchange. The Transaction cannot close until the requisite approvals are obtained. There can be no assurance that the Transaction will be completed as proposed, or at all.

Concurrent Financing

It is anticipated that, in connection with the Transaction, Angel will undertake a concurrent financing of not less than $1,500,000 to meet minimum listing requirements of the Exchange (the “Concurrent Financing”). The terms of the Concurrent Financing will be determined in the context of the market and will be announced in connection with the definitive agreement.

The Company intends to use the proceeds of the Concurrent Financing to fund the costs of the Transaction, to fund expenditures in respect of Huayra's mineral projects and for working capital of the Resulting Issuer. Any securities issued in connection with the Concurrent Financing will be subject to a four month and one day statutory hold period pursuant to applicable securities laws.

“We are delighted to move forward with Huayra to complete this merger” stated Ken Ralfs, President of Angel, while Hernan Zaballa, Director of Huayra, added “The proposed transaction is a win-win for shareholders of both Angel and Huyara. Huayra will have gained a listing on the Exchange and have access to capital raising while Angel shareholders will be exposed to Diablillos, an advanced precious metal project in addition to three other project including two Cu-Mo (Au) porphyry properties. Moreover, we believe that Argentina offers significant opportunities for growth in the next 3-4 years, particularly in view of the current administration’s openness to business as well as its support for investment in the mining sector.”

The Company currently intends to apply for a waiver of the Exchange requirements for sponsorship.

Trading of the Angel’s common shares will remain halted until completion of the Transaction or until satisfactory documentation is filed with the Exchange. Additional information about the Transaction will be provided by way of a subsequent news release.

ON BEHALF OF THE BOARD ANGEL BIOVENTURES INC.

Ken Ralfs President & Director

For further information concerning the Transaction and this press release, please contact

Ken Ralfs Hernan Zaballa President & Director Director Angel Bioventures Inc Huayra Minerals Corporation Tel: 780-466-6006 Tel: +54-11-4833-5403 E-mail: [email protected] E-mail: [email protected]

Neither TSX Venture Exchange nor its Regulations 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.

Completion of the Transaction is subject to a number of conditions, including satisfactory completion of confirmatory due diligence, regulatory approval including Exchange acceptance and shareholder approval. The Transaction cannot close until the required regulatory and shareholder 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 disclosure document 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 the Company should be considered highly speculative.

The TSX Venture Exchange has in no way verified the merits of the proposed Transaction and has neither approved nor disapproved the contents of this press release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.