Brionor Anounces Private Placement Financing and Extension to Complete the Atala Acquisition

TORONTO, ONTARIO--(Marketwired - Jul 15, 2014) - Brionor Resources Inc. ("Brionor" or the "Company") (TSX VENTURE:BNR) announces a non brokered private placement for maximum proceeds of $250,000 (the "Offering"). The terms of the Offering are as follows: a maximum of 12,500,000 common shares at a price of $0.02 per share. The Offering will be conducted by the Company utilizing the "existing shareholder exemption" as described in Multilateral CSA Notice 45-313 - Prospectus Exemption for Distributions to Existing Security Holders (published March 13, 2014) (the "Existing Shareholder Exemption"), under the "accredited investor" exemption of National Instrument 45-106 - Prospectus and Registration Exemptions ("NI 45-106") as well as under other applicable exemptions available to the Company in NI 45-106.

Brionor will make the offering available to all shareholders of the Company as at the date hereof (the "Record Date") who are eligible to participate under the Existing Shareholder Exemption and who will have notified the Company by no later than 4:30 PM (Eastern time) on July 23, 2014 of their intention to participate in the Offering. Orders will be processed by the Company on a first come, first served basis such that it is possible that a subscription received from a shareholder may not be accepted by the Company if the Offering is over subscribed. Any person who becomes a shareholder of Brionor after the Record Date shall not be entitled to participate in the Offering under the Existing Shareholder Exemption.

The Offering is expected to close on or before July 30, 2014 and is subject to regulatory approval. No commission or finders' fee will be paid by the Company in connection with the Offering and the proceeds from this financing will be used to eliminate the Company's working capital deficit (approximately $130,000), and for general corporate purposes (of which approximately $40,000 would be budgeted to general and administrative expenses, $50,000 for professional fees and $30,000 for miscellaneous expenses).

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Brionor also announces a further extension to complete the acquisition of Atala Resources Corp. ("Atala") (see press release dated November 19, 2013 for details on the proposed transaction and the press release dated March 20, 2014 relating to the last extension agreed to by the parties). The new deadline to complete the transaction is December 31, 2014, however it is anticipated that closing will occur before this date. As previously disclosed, the completion of the transaction is subject to a number of conditions, including but not limited to, both parties obtaining all necessary approvals, including the required regulatory approvals.

About Atala:

Atala Resources Corp. is a private mineral exploration company focused on the acquisition and advancement of its project portfolio in Argentina's prolific mining friendly Santa Cruz province. Through the recent acquisition of AuEx Argentina S.A., as well as other private acquisitions, Atala has amassed a project portfolio on a very favourable basis, that consists of both drill ready and grassroots projects in the very prospective and prolific geological environment that underlay's Santa Cruz province. Atala is led by Brian Gavin, and his team of professionals with over 20 years of experience in Argentina. As a founder of Minera Andes Inc. (Now McEwen Mining), Brian and his team were responsible for the discoveries of the high grade San Jose Ag/Au, mine now in production as a joint venture between McEwen Mining and Hochshild Mining PLC, and the Los Azules Cu project, a large world class porphyry copper system located in San Juan province.

Brionor is a junior mining exploration company with a portfolio of exploration projects in Québec.

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.