Sentient IV Converts its Remaining Debentures of Era Resources Inc.

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES AND NOT FOR DISSEMINATION IN THE UNITED STATES/

MONTREAL, May 24, 2017 /CNW Telbec/ - Sentient Executive GP IV, Limited ("Sentient IV") announces that it has acquired control over 195,755,600 common shares ("Common Shares") of Era Resources Inc. ("Era Resources") following the conversion of convertible unsecured debentures in a principal aggregate amount of US$41,000,000 (the "Converted Debentures") issued by Era Resources.

Prior to the conversion of the Converted Debentures and the acquisition of the 195,755,600 Common Shares, Sentient IV had control or direction over 112,962,967 Common Shares (representing approximately 91.06% of the then outstanding Common Shares), a convertible unsecured debenture in a principal aggregate amount of US$20,000,000 (the "2014 Debenture"), a convertible unsecured debenture in a principal aggregate amount of US$7,000,000 (the "2015 Debenture"), a convertible unsecured debenture in a principal aggregate amount of US$3,000,000 (the "April 2016 Debenture"), a convertible unsecured debenture in a principal aggregate amount of US$4,000,000 (the "May 2016 Debenture"), and a convertible unsecured debenture in a principal aggregate amount of US$7,000,000 (the "November 2016 Debenture" and, together with the 2014 Debenture, the 2015 Debenture, the April 2016 Debenture, and the May 2016 Debenture, collectively, the "Debentures"). The Debentures do not bear interest and the principal amount thereof is convertible into fully paid and non-assessable Common Shares at a conversion price of Cdn.$0.25 per share. The 2014 Debenture matures on July 1, 2017 and the 2015 Debenture, the April 2016 Debenture, the May 2016 Debenture and the November 2016 Debenture mature on December 31, 2017. Assuming the conversion in full of the principal amount of the Debentures, Sentient IV would acquire control over a maximum of 308,718,567 Common Shares (including the 112,962,967 Common Shares referred to above). These combined holdings would represent approximately 96.53% of the then outstanding Common Shares, calculated on a partially diluted basis assuming the full conversion of the Debentures only.

Immediately after the conversion of the Converted Debentures and the acquisition of the 195,755,600 Common Shares, Sentient IV has control or direction over 308,718,567 Common Shares (representing approximately 96.53% of the outstanding Common Shares).

Sentient IV acquired 195,755,600 Common Shares as a result of the conversion of the principal amount of the Converted Debentures and not with a view to materially affecting control of Era Resources. Depending upon market conditions and other factors, Sentient IV may, from time to time, acquire or dispose of additional securities of Era Resources, in the open market, by private agreement or otherwise, or acquire interests in or enter into related financial instruments involving a security of Era Resources.

The head office of Era Resources is 3400 One First Canadian Place, 100 King Street West, P.O. Box 130, Toronto, Ontario M5X 1A4.

SOURCE Sentient Executive GP IV, Limited

or to obtain a copy of the Early Warning Report filed by Sentient IV, please contact Sue Bjuro at [phone].