2015-06-16 18:54 ET - News Release

Mr. Stan Szary reports

SATURN RECEIVES FINAL APPROVAL AND CLOSES FLOW-THROUGH AND NON FLOW-THROUGH PRIVATE PLACEMENTS

Saturn Minerals Inc., further to the company's news release dated June 9, 2015, has received the final approval of the TSX Venture Exchange, and has closed its previously announced non-brokered flow-through (FT) and non-flow-through (NFT) private placements of 689,654 flow-through units and 1,811,000 non-flow-through units at a price of 18 cents per FT and NFT unit, for gross dollar value of $450,117.72.

Each FT unit consists of one flow-through common share and one-half of a non-flow-through share purchase warrant. Each whole FT warrant will entitle the holder to purchase one additional non-flow-through common share, exercisable at a price of 30 cents per share for a period of 18 months from the date of issue of the FT warrant. The FT shares will entitle the holder to receive the tax benefits applicable to flow-through shares, in accordance with provisions of the Income Tax Act (Canada).

Each NFT unit consists of one non-flow-through common share and one-half of a non-flow-through share purchase warrant. Each whole NFT warrant will entitle the holder to purchase one additional non-flow-through common share, exercisable at a price of 30 cents per share for a period of 18 months from the date of issue of the NFT warrant.

The FT and NFT warrants are subject to an accelerated expiry if, at any time after an initial four-month hold period expires, the closing price of Saturn's common shares on the TSX Venture Exchange exceeds 30 cents for any 20 consecutive trading days, in which event the holder will be given notice that the warrants will expire 30 days following the date of such notice. The warrants may be exercised by the holder during the 30-day period between the notice and the expiration of the warrants.

All securities issued will be subject to a four-month hold period. Proceeds from the financings will be used to drill a second oil exploration well at Bannock Creek and added to general working capital.

The company paid a finder's fee totalling $7,448.20 to EMD Financial Inc.