Wpc Resources Announces Lupin Mines Inc. Acquisition Financing

NR 2017-2

WPC RESOURCES ANNOUNCES LUPIN MINES INC. ACQUISITION FINANCING

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES.

Vancouver, British Columbia, February 6, 2017 – WPC Resources Inc. (the “Company” or

“WPC”) (TSX.V: WPQ) announces a non-brokered private placement of up to 80,000,000 units

(the “Units”) at a price of $0.07 per Unit for gross proceeds of $5,600,000 (the “Offering”). Each

Unit consists of one (1) common share (“Common Share”) and one- half (1/2) transferable

common share purchase warrant (a “Warrant”). Each full Warrant will be exercisable for one

common share at $0.15 for twelve (12) months following the close of the private placement.

Proceeds from this financing shall be used to complete the acquisition o f the Lupin Mines Inc.

(“LMI”) from Mandalay Resources Corporation, the maintenance and advancement of LMI ’s

assets and for general corporate and working capital purposes. LMI, owns the past producing

Lupin Gold Mine and the Ulu gold property in Nunavut , Canada. For further information on the

terms of the LMI acquisition and the LMI assets please see the Company news release dated

November 1, 2016.

The Offering, including the future issuance of Common Shares and Warrants, is subject to the

final approval of the TSX Venture Exchange. All securities issued will be subject to a hold period

of four months and a day pursuant to applicable securities laws.

About WPC Resources Inc.

WPC is a Vancouver, Canada, based gold exploration company focused on mineral exploration

and development. The Company has signed a definitive agreement to acquire a 100% interests

in the pas t producing Lupin Gold Mine and the advanced Ulu Gold Project from Mandalay

Resources Corporation. In addition, the Company has entered into an agreement to acquire

Inukshuk Exploration Inc., the owner of a 100% interest in the 8,000 ha Hood River property

located contiguous to the Ulu Gold Project. The Company is listed on the TSX-V with the trading

symbol: WPQ. The Company website is: www.wpcresources.ca.

For additional information, please contact:

Stephen Wilkinson, President ; OR

Wayne Moorhouse, CFO & Secretary

Telephone: (778) 379-1433

E-mail: [email protected]

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION

This news release contains certain “forward-looking information” within the meaning of Canadian securities

laws. Actual results may differ materially from those indicated by such forward- looking inf ormation. All

information included herein, other than statements of historical fact, including the expected completion of

the Offering and the timing thereof, and the expected use of proceeds are forward- looking statements and

involves various risks and uncertainties. There can be no assurance that the forward- looking information

will prove to be accurate, as actual results and future events could differ materially from those anticipated

in such information. Neither the TSX Venture Exchange nor its Regulati on 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.