Greenock Announces Financing and Corporate Update

Greenock Resources Inc. (TSX VENTURE:GKR) ("Greenock" or the "Company")
announces the Company will conduct a non-brokered private placement pursuant to
which the Company will issue an aggregate of up to 6,000,000 units (the
"Financing Units"),at a price of $0.10 per Financing Unit, consisting of one
common share and one half common share purchase warrant at a price of $0.15 for
a 36 month period with an acceleration event if the share price is greater the
$0.30 for a period of 20 consecutive trading days, to raise gross proceeds of up
to $600,000 (the "Financing"). In connection with the Financing, the Company
will pay an 8% cash finder's fee. The proceeds from the Financing will be used
for general working capital. The Financing remains subject to Exchange approval.
All securities issued in connection with the Financing will be subject to a four
month resale restriction.


Greenock announces the TSX Venture Exchange has accepted for filing on March 24,
2014, a Letter Agreement dated March 17, 2014 between the Company and Precious
Metals Investments Limited ("PMI") whereby the parties have completed a
settlement arrangement for a US $250,000 Promissory Note held by the Company's
wholly owned subsidiary PTM Minerals (Cayman) Ltd. to PMI. The settlement
includes: (a) the issuance of 33,334 common shares at a deemed price of $0.15;
(b) an assignment to PMI of a direct 40% interest in the Needles Gold/Silver
Property in Nye County Nevada; and (c) an Option Agreement whereby PMI can earn
an additional interest in the Needles property by spending US $250,000 on the
Needles Property exploration program over a period of three years.


Greenock has materially reduced corporate debt with the completion of the
Promissory Note settlement arrangement.


Greenock announces the resignation of Mr. Horst Helbig, Director effective March
25, 2014.


Greenock has appointed David Morris as a Director. David Morris is a director of
Jet Gold Corp (JAU.V), a Canadian exploration company listed on the TSX Venture
Exchange. Mr. Morris is the owner of a service company named CanEx Exports Ltd.
which focuses on the leasing, rental, and sale of equipment to South American
mining and exploration companies. Mr. Morris studied international business at
Brandon University.


ABOUT GREENOCK

Greenock Resources Inc. is a Canadian based international mineral development
company that focuses on developing a portfolio of natural resource properties.
It holds a 60% 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.


Neither the 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Greenock Resources Inc.
James S. Hershaw
CFO & Vice President, Corporate Development
(416) 868.1079
(416) 868.6198 (FAX)
jshershaw@greenockresources.com
www.greenockresources.com

Greenock Resources (TSXV:GKR)
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