Waterton Precious Metals Fund II Cayman, LP - Update of Goldrock Mines Corp. Holdings

TORONTO, May 20, 2016 /CNW/ - Waterton Precious Metals Fund II Cayman, LP ("Waterton") announces today that between May 3, 2016 and May 19, 2016, it disposed of 950,000 common shares (the "Shares") in the capital of Goldrock Mines Corp. ("Goldrock") through market transactions on the TSX Venture Exchange (collectively, the "Transactions"). The Shares were sold at an average price of C$0.51 per Share, for aggregate proceeds of C$485,480.

Prior to the completion of the Transactions, Waterton had ownership and control over 11,111,111 Shares, representing 10.83% of the issued and outstanding Shares of Goldrock. Waterton now has ownership and control over 10,161,111 Shares, representing 9.91% of the issued and outstanding Shares of Goldrock.

The Transactions were made for strategic investment purposes. Waterton may make additional investments in or dispositions of securities of Goldrock in the future, including additional purchases of Shares although no additional purchases are currently planned.

In connection with this news release, an early warning report will be filed by Waterton in accordance with applicable securities laws. A copy of the early warning report will be available for review on www.sedar.com.

About Waterton

Waterton is a leading mining-focused private equity firm dedicated to developing high quality precious and base metals projects located in stable jurisdictions. Waterton's cross-functional, fully-integrated, in-house team of professionals have significant mining, financial and legal expertise. Waterton's proactive approach to asset management, significant sector knowledge and ability to leverage extensive industry relationships has resulted in a strong track record of managing investments in the metals sector. Additional information about Waterton is available online at www.watertonglobal.com.

SOURCE Waterton Precious Metals Fund II Cayman, LP

about Waterton, contact: Investors: Waterton Precious Metals Fund II Cayman, LP, Cheryl Brandon - Partner, Investment Management, [phone]; Media: Bayfield Strategy, Inc., Riyaz Lalani, [phone] or [email protected]