Greenock Resources: Kakanda Project Announcements

Greenock Resources Inc. (TSX VENTURE:GKR) ("Greenock") announces the conditions
to satisfy completion of the Letter Agreement dated October 5, 2011 whereby a
private company Quatern Holdings Limited ("Quatern") or its nominee was to
acquire 87.5% of the shares of PTM Minerals (Cayman) Ltd. ("PTM") have not been
completed.


Greenock has been informed of actions by Eurasian Natural Resources Corporation
PLC ("ENRC") that challenges the mineral rights of PTM. As quoted from
correspondence copied to Greenock on February 21, 2012 between Torys LLP
representing ENRC to the Corporate Finance Branch of the Ontario Securities
Commission:


"On September 12, 2011, ENRC obtained a declaration from the Commercial Court of
Lubumbashi, D.R.C. confirming it exclusive rights to develop the Kakanda
property subject to PE 469. This order was issued with the consent and
cooperation of Gecamines"


"On February 6, 2012, the D.R.C. Mining Registry posted a communique on its
website confirming that PTM is not the registered holder of any mining rights
whatsoever in the that country. The communique states the Mining Registry took
note of Greenock's public statements claiming it had rights to the Kakanda
tailings, but confirms that Boss Mining holds the exclusive right to develop the
Kakanda tailings."


Prior to receiving the noted correspondence on February 21, 2012, Greenock was
not aware of these actions by ENRC and DRC authorities. Greenock is immediately
disclosing the information and is reviewing the implications of this new
material.


Greenock has spent $5,575,076 on the Kakanda project as stated in the September
30, 2011 financials. These events illustrates that significant project title
risk exists in the Democratic Republic of Congo.


ABOUT GREENOCK

Greenock Resources Inc. is a Canadian based international mineral development
company that focuses on developing a portfolio of natural resource properties.
Shares outstanding: 32,239,479


Greenock holds a 100% interest in the Needles gold / silver property located in
the Arrowhead mining district of Nye County, Nevada. The property is
approximately 40 miles southeast of the Barrick - Kinross Round Mountain Gold
Mine. The Needles property has had historical underground mining for gold and
silver in the early 1920's.


This press release includes certain "Forward-Looking Statements" within the
meaning of applicable securities laws. Other than statements of historical fact,
all statements are "Forward-Looking Statements" that involve such various known
and unknown risks, uncertainties and other factors. There can be no assurance
that such statements will prove accurate. Results and future events could differ
materially from those anticipated in such statements. Readers of this press
release are cautioned not to place undue reliance on these "Forward-Looking
Statements". Michael Newbury, P.Eng., is the qualified person who has reviewed
this material on behalf of the Company. All dollar amounts are noted in Canadian
dollars unless otherwise stated in this release.

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