Archon Closes Acquisition of Additional Interest in Buffer Zone

Archon Minerals Limited #2801 – 323 Jervis Street Vancouver, BC, V6C 3P8 Tel: 604-682-3303

ARCHON CLOSES ACQUISITION OF ADDITIONAL INTEREST IN BUFFER ZONE

October 15, 2014 – Vancouver, British Columbia TSX.V: ACS

Archon Minerals Limited (“Archon” or the “Company”) is pleased to announce the closing of its acquisition of a 3.467% interest in the Buffer Zone of the Ekati diamond mine from C. Fipke Holdings Ltd. The Company paid cash of US$5,893,390, plus interest and adjustments of US$1,721,181, to acquire the interest.

As previously announced in a news release dated September 8, 2014, this transaction is financed by a convertible loan or debenture, which is subject to acceptance by the TSX Venture Exchange. Details of the convertible loan or debenture will be announced shortly once the Company finalizes the terms of the instrument.

The Company has now increased its interest in the Buffer Zone from 31.2% to 34.667%.

ARCHON MINERALS LIMITED “Stewart Blusson”

Stewart Blusson President and Director

Neither the TSX Venture Exchange nor its Regulation 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.

This news release may contain “forward-looking statements”, which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.