Reservoir Minerals : Cukaru Peki NI43-101 PEA

Cukaru Peki PEA NI43-101 PRELIMINARY ECONOMIC ASSESSMENT OF THE CUKARU PEKI UPPER ZONE DEPOSIT, SERBIA,‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌‌ MARCH 2016 Prepared For Reservoir Minerals Inc. Report Prepared by‌

SRK Consulting (UK) Limited

UK6782

Important Notice

This technical report was prepared by SRK Consulting (UK) Ltd. ("SRK") for Reservoir Minerals Inc. The information, conclusions and estimates contained herein are based on: i) the information available at the time of preparation, ii) data supplied by outside sources, and iii) the assumptions, conditions, and qualifications set forth in this report. This report is intended for use by Reservoir Minerals Inc. subject to the terms and conditions of its contract with SRK and relevant securities legislation. The contract permits Reservoir Minerals Inc. to file this report as a technical report with the TSX Venture Exchange (the "Exchange") or with Canadian or similar securities regulatory authorities pursuant to National Instrument 43-101, Standards of Disclosure for Mineral Projects. Except for Exchange purposes or the purposes legislated under provincial securities law, any other uses of this report by any third party is at that party's sole risk. The responsibility for this disclosure remains with Reservoir Minerals Inc.. The user of this document should ensure that this is the most recent technical report for the property as it is not valid if a new technical report has been issued.

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© 2016 SRK Consulting (UK) Ltd.

SRK Legal Entity:	SRK Consulting (UK) Limited
SRK Address:	5th Floor Churchill House 17 Churchill Way City and County of Cardiff, CF10 2HH Wales, United Kingdom.
Date:	March 2016
Project Number:	UK6782
SRK Project Director:	Mark Campodonic	Principal Consultant (Resource Geology)
SRK Project Manager:	Martin Pittuck	Corporate Consultant & Director
Reservoir Minerals Inc
Client Legal Entity:
Client Address:	Suite 501 543 Granville Street Vancouver BC Canada V6C 1X8

Report Title:	NI43-101 PRELIMINARY ECONOMIC ASSESSMENT OF THE CUKARU PEKI UPPER ZONE DEPOSIT, SERBIA, MARCH 2016
Effective Date:	31st March, 2016
Signature Date	13th April, 2016
Project Number:	UK6782
Qualified Persons:	Martin Pittuck, Corporate Consultant (Mining Geology) Tim McGurk, Corporate Consultant (Mining Engineering)

SRK Consulting (UK) Limited 5th Floor Churchill House

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NI43-101 PRELIMINARY ECONOMIC ASSESSMENT OF THE CUKARU PEKI UPPER ZONE DEPOSIT, SERBIA, MARCH 2016 1 EXECUTIVE SUMMARY 1.1 Introduction

Reservoir Minerals Inc, listed on the Toronto Venture Stock Exchange as RMC, ("RMC", "Reservoir" or "the Client") currently owns a 45% interest in the Timok Project comprising four exploration Permits in eastern Serbia, with a total area 212.58 km2 . The Cukaru Peki copper- gold deposit was discovered in 2012 and is located within the Brestovac-Metovnica

Exploration Permit, which was the subject of a maiden NI 43.101 Mineral Resource estimate prepared by SRK Consulting (UK) Ltd ("SRK") in January 2014. During 2014 and 2015, further drilling and various early stage technical and environmental studies have been undertaken which are reviewed and incorporated in this Mineral Resource update and Preliminary Economic Assessment ("PEA") of the Cukaru Peki deposit (the "Project").

The PEA is preliminary in nature and it includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorised as Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. There is no certainty that the PEA will be realised.

The Project area is located in eastern Serbia on a gently rolling plateau between 300 and 400 metres above mean sea level ("amsl") and has a moderate-continental climate. It is located some 5 km south of the town of Bor, which is a regional administrative and mining centre, located approximately 245 km by road southeast of Belgrade, the capital of Serbia. The site is favourably located for mining infrastructure (road, rail, power, water) and near by the recently upgraded copper smelter complex in Bor.

The operator of the Project is Freeport-McMoRan Exploration Corporation ("Freeport", or "FMEC"). After acquiring 55% equity interest under the Rakita Agreement, Freeport gave notice to Reservoir in July 2012 that it had elected to sole fund expenditures on or for the benefit of the Project until the completion and delivery to the Company of a feasibility study to bankable standards (the "Bankable Feasibility Study"), subject to its right to cease such funding at any time. The Bankable Feasibility Study must be in such form as is normally required by substantial, internationally recognized financial institutions for the purpose of deciding whether or not to loan funds for the development of mineral deposits. If Freeport completes the Bankable Feasibility Study, Freeport will indirectly own 75% and Reservoir 25% of the Project.

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