Los Angeles, California, 90024

{00999052;1}  

KF BUSINESS VENTURES, LP

10866 Wilshire Blvd.

Los Angeles, California, 90024

NEWS RELEASE

Vancouver, British Columbia, May 3, 2018

KF Business Ventures, LP (“KFBV”) makes the following announcement in accordance with National

Instrument 62-103 The Early Warning System and Related Take Over Bids and Insider Reporting Issues.

KFBV advises that it has filed an early warning report in connection with the issuance by Velocity

Minerals Ltd. (“Velocity”) to KFBV of 4,971,824 units (“Units”) of Velocity on May 2, 2018; each Unit

consisting of one common share (the “Shares”) and one-half of one common share purchase warrant

(“Warrants”). The Units were acquired by KFBV pursuant to a previously disclosed non-brokered private

placement being undertaken by Velocity.

In addition, and also on May 2, 2018, Velocity granted 1,000,000 common share stock options (the

“Options”) to Mr. Robert C. Kopple in connection with a consulting agreement between Velocity and

Mr. Kopple, pursuant to which Mr. Kopple will provide consulting services as a member of Velocity's

advisory board. Mr. Kopple may be considered a “joint actor” with KFBV in that he is the president of

the general partner of KFBV.

Velocity is a reporting issuer whose common shares are listed on the TSX Venture Exchange; having its

head office at Suite 2300 - 1177 West Hastings Street, Vancouver, BC.

Immediately before the issuance of the Units and Options, Mr. Kopple beneficially owned and controlled

3,028,176 Shares and 220,588 warrants in the capital of Velocity. As a result of the subscription of Units

by KFBV and the Options granted to Mr. Kopple, KFBV and Mr. Kopple beneficially own and control

8,000,000 Shares, 2,706,500 warrants, and 1,000,000 Options representing 11.80% (16.37% on partially

diluted basis) of the currently issued and outstanding common shares of Velocity.

Either KFBV or Mr. Kopple may acquire additional securities of Velocity, or may sell some or all of the

securities now held by them from time to time in the future, but neither has present intentions in either

regard. Similarly, neither presently has any plans or intentions to (a) undertake a corporate transaction,

such as a merger, reorganization or liquidation, involving Velocity or any of its subsidiaries; (b) sell or

transfer any other material assets to Velocity; or cause Velocity to sell or dispose of any of its material

assets; (c) change the board of directors or management of Velocity, including any plans or intentions to

change the number or term of directors or to fill any existing vacancy on its board; (d) effect a material

change in the present capitalization or dividend policy of Velocity; (e) effect a material change in

Velocity’s business or corporate structure; (f) effect a change in Velocity’s charter, bylaws or similar

instruments or another action which might impede the acquisition of control of Velocity by any person or

company; (g) cause any class of securities of Velocity to be delisted from, or cease to be authorized to be

quoted on, a marketplace; (h) cause Velocity to cease to be a reporting issuer in any jurisdiction of

Canada; (i) solicit proxies from securityholders; or (j) any action similar to any of those enumerated

above.

{00999052;1}  

A copy of the early warning report may be found under Velocity’s profile on www.sedar.com.

KF Business Ventures, LP

“Robert C. Kopple”

________________________________

Robert C. Kopple, President of

Kopple Financial, Inc., General Partner

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.