Offer to Purchase Joint Venture Partner’s Interest

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

OFFER TO PURCHASE JOINT VENTURE PARTNER’S INTEREST

July 10, 2014 – Vancouver, British Columbia TSX.V: ACS

Archon Minerals Limited (“Archon” or the “Company”) received today notice from C. Fipke Holdings Ltd. (“FipkeCo”) that it has accepted an offer from Dominion Diamond Corporation (“DDC”) to acquire FipkeCo's 10% interest in the Buffer Zone of the Ekati mine for US$17 million, subject to adjustments. Under the joint venture agreement governing the Buffer Zone, Archon has 60 days from today to exercise its pre-emptive right to acquire, on a pro rata basis, FipkeCo’s interest in the Buffer Zone on the same terms as the DDC offer.

The Company’s board of directors is currently considering its options with respect to this offer.

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.