Completion of Qualifying Transaction Resumption of Trading on the TSX Venture Exchange as a Tier 2 Mining Issuer

88 CAPITAL CORP.

(the "Company")

595 Howe Street, Suite 602 Vancouver, BC V6C 3T5 Telephone: (604) 629-7083 Fax: (604) 629-7084

COMPLETION OF QUALIFYING TRANSACTION

RESUMPTION OF TRADING ON THE TSX VENTURE EXCHANGE AS A TIER 2 MINING ISSUER

NEWS RELEASE

Vancouver, British Columbia, April 23, 2012 TSX-V SYMBOL: EEC

The Company is pleased to announce that the TSX Venture Exchange (the "Exchange") has accepted the Company's Qualifying Transaction as announced in the news release dated November 22, 2011, and the Company has closed its Qualifying Transaction which consists of the acquisition of an option to earn a 60% interest in the Dot-Apex Property from Electra Gold Ltd.

The CPC Filing Statement for the Qualifying Transaction is available on SEDAR at www.sedar.com

In connection with the Qualifying Transaction, Mr. Robert Coltura has been appointed as CFO and Corporate Secretary and Mr. Elston Johnston remains as the President and CEO.

Upon the issuance of the Final Exchange Bulletin, the Company will graduate from being a Capital Pool Company to a Resulting Issuer that will be listed as a Tier 2 Mineral Exploration Issuer. The Company commenced trading at the opening of the market on April 23, 2012 under a the symbol "EEC", and the ".P" designation will be eliminated in accordance with the policies of the Exchange. The issuance of the Final Exchange Bulletin will evidence the final Exchange Acceptance and confirms the Completion of the Qualifying Transaction.

Non-Brokered Private Placement

The Company also announces that it has closed its previously announced private placement of 7,387,500 units at $0.08 per unit for gross proceeds of $591,000. Each Unit consists of one common share and one transferable share purchase warrant. Each share purchase warrant entitles the holder to purchase one common share of the Company at a price of $0.155 per share for a period of five years.

The proceeds from the private placement will be used to finance exploration activities on the Dot-Apex Property or on any future Canadian mineral property acquisitions. Finder's fees in an aggregate amount of $55,520 were paid in connection with the placement. The shares and warrants issued as part of the private placement are subject to a four month hold period expiring on August 20, 2012.

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FOR FURTHER INFORMATION PLEASE CONTACT:

Robert Coltura, Director, at Suite 602 – 595 Howe Street, Vancouver, BC V6C 3T5, telephone: (604) 629-7083.

Neither 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.