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VLC.V ·

Velocity Minerals Ltd. – Adjournment of Annual and Special General Meeting

Shareholder Meetings

December 19, 2012 Trading Symbol: VLC.H: NEX

VELOCITY MINERALS LTD. – ADJOURNMENT OF ANNUAL AND SPECIAL GENERAL MEETING

Velocity Minerals Ltd. (the “Company”) announces that the 2012 Annual and Special General Meeting of its shareholders scheduled for, and convened on, December 18, 2012, has been adjourned to Thursday, January 10, 2013 at 3:00 p.m. (PST), to be held at Suite 2800, 666 Burrard Street, Vancouver, British Columbia.

The Company's proxy materials are filed on www.sedar.com and were mailed to the shareholders on or about November 20, 2012. Proxies previously submitted in respect of the original meeting shall be voted at the adjourned meeting in respect of the matters adjourned, unless revoked. The record date of November 12, 2012 for shareholders entitled to vote at the meeting remains the same.

On behalf of the Board of Directors, Kenneth R. Holmes, Chairman

Contact:

Jeremy Yaseniuk Investor Relations

Velocity Minerals Ltd.

Telephone: (604) 689-7411 Toll Free: (866) 920-0567 www.velocityminerals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or by words indicating that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.