Archon Enters into $8 Million Convertible Loans

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

ARCHON ENTERS INTO $8 MILLION CONVERTIBLE LOANS

November 7, 2014 – Vancouver, British Columbia TSX.V: ACS

Archon Minerals Limited (“Archon” or the “Company”) has entered into a $7.5 million convertible loan with President and Director Stewart Blusson and a $500,000 convertible loan with Director Ross Blusson (the “Loans”). As previously announced in news releases dated September 8, 2014 and October 15, 2014, the primary purpose of the Loans is to fund the acquisition of a 3.467% interest in the Buffer Zone of the Ekati diamond mine (the “Acquisition”). Any excess funds will be used for the Company’s general working capital.

Each of the Loans has a term of three years and bear interest at a rate of 5% per year, compounded annually. At any time before the Loans mature, each lender may convert the outstanding indebtedness of his Loan into the Company’s common shares at a rate of $1.35 per share during the first year, $1.45 per share during the second year and $1.55 per share during third year of the Loan. On the Loans’ maturity date, if the total indebtedness outstanding at that time has not been paid in full, the Company may in its discretion convert the outstanding amounts into common shares at $1.55 per share.

Assuming conversion of the entire principal of each Loan plus interest accrued during the first year, the Loans would allow Dr. Stewart Blusson to acquire up to 5,833,333 common shares (which will increase Dr. Blusson’s shareholdings in Archon to 65.69%) and Mr. Ross Blusson to acquire up to 388,889 common shares (which will increase Mr. Blusson’s shareholdings in Archon to 2.07%) respectively.

Any securities issued pursuant to the terms of the Loans will have a four-month hold period. The Loans have been reviewed and approved by the Company’s board of directors, subject to acceptance by the TSX Venture Exchange.

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.