Mag Copper Limited Announces Private Placement and Debt Settlement

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MAG COPPER LIMITED

365 Bay Street, Suite 400

Toronto, Ontario, M5H 2V1

NEWS RELEASE

March 16, 2017 CSE: QUE

For Immediate Release Shares Outstanding: 4,789,503

Toronto, Canada

MAG COPPER LIMITED ANNOUNCES PRIVATE PLACEMENT AND DEBT SETTLEMENT

March 16, 2017 – Mag C opper Limited (the “ Company”) (CSE: QUE) is pleased to announce a non-

brokered private placement for gross proceeds of $6 2,402 through the issuance of 1,248,040 common

shares of the Company at a price of $0.05 per common share. The Company has also issued an aggregate

of 15,719,338 common shares in settlement of an a ggregate of $785,966.88 of indebtedness at a price of

$0.05 per common share.

As a result of the debt settlement, Medalist Capital Ltd. (“ Medalist”) has acquired (the “ Acquisition”)

15,719,338 common shares of the Company represen ting approximately 72% of the issued and

outstanding common shares of the Company on a non- diluted basis. Prior to the Acquisition, Medalist

did not own any common shares of the Company. Medalist has acquired the common shares of the

Company for investment purposes and Medalist may, depending on market and other conditions, increase

or decrease its beneficial ownership, control or direction over the common shares or other securities of the

Company, through market transactions, private agreem ents, treasury issuances, exercise of convertible

securities or otherwise. For further details relating to the Acquisition, please see the early warning report,

a copy of which is available on the Company’s profile on SEDAR at www.sedar.com.

In connection with the issuance of the common shares subscribed for in the non-brokered offering, the

Company has agreed to pay a finder’s fee equal to 8% of the aggregate proceeds of the offering to be

satisfied through the issuance of 99,843 common shares of the Company.

For further information contact:

Chris Irwin

Mag Copper Limited, President & Secretary

Telephone: (416) 361-2516

Facsimile: (416) 361-2519

The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or

accuracy of this news release.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and

content of upcoming work programs, geological interpretations, r eceipt of property titles, potential mineral recovery processes ,

etc. Forward-looking statements address future events and cond itions and therefore, involve in herent risks and uncertainties.

Actual results may differ materially from those currently anticipated in such statements.

Not for distribution to U.S. news wire services or dissemination in the United States.