REO Reservoir Capital Corp. (delisted)

Reservoir Capital Corp. (TSX VENTURE:REO)(FRANKFURT:ROC)(BERLIN:ROC)
("Reservoir" or the "Company") and Reservoir Minerals Inc. ("Minerals") are
pleased to announce the closing of their previously announced arrangement (the
"Arrangement"), under which Reservoir has spun-out certain Serbian mineral
exploration permits to Minerals by means of a plan of arrangement pursuant to
the Business Corporations Act (British Columbia) (the "Spin-out Transaction").  


Under the terms of the statutory plan of arrangement which received shareholder
approval on October 11, 2011 (the "Plan of Arrangement"), Reservoir distributed
to Reservoir shareholders (the "Shareholders"), as a return of capital,
0.191482444 of a common share of Minerals for each common share of Reservoir,
subject to the terms of the Plan of Arrangement, held at the effective time of
12:01 a.m. on October 13, 2011 (the "Effective Time"). 


As more fully described in Reservoir's management information circular (the
"Circular") dated September 12, 2011, each Shareholder must, for the purposes of
the Income Tax Act (Canada), subtract from the adjusted cost base of the common
shares of Reservoir held at the Effective Time an amount equal to the fair
market value of the common shares of Minerals received under the Plan of
Arrangement. Reservoir has allocated $0.65 as the value of each common share of
Minerals received by it and distributed to the Shareholders under the Plan of
Arrangement.  


Reservoir will prepare its tax returns based on this allocation of value.
However, the allocation of value is not binding on the Canada Revenue Agency or
the Internal Revenue Service. 


The foregoing is qualified entirely by the Circular and is not intended to be
tax advice to any particular Shareholder. Shareholders are encouraged to read
the Circular in full and consult with their own tax advisors having regard to
their own circumstances.  


Pursuant to the previously completed private placement financing of
approximately $9.6 million in non-transferable subscription receipts
("Subscription Receipts") of Minerals ("Minerals Private Placement"), and
concurrent with the closing of the Arrangement, the Subscription Receipts have
been converted into common shares and warrants of Minerals. Specifically, in
connection with the completion of the Arrangement each Subscription Receipt was
converted, for no additional consideration, into one common share of Minerals
and one non-transferable common share purchase warrant of Minerals for a period
of two years from the date of conversion of the Subscription Receipts at an
exercise price of $0.90 in the first year and $1.00 in the second year subject
to accelerated expiry in certain circumstances. The proceeds from the Minerals
Private Placement have been released from escrow.  


Minerals also announces that Michael Winn, Miljana Vidovic, Geoff Chater and
David Knox have been appointed as additional directors of Minerals.  


The common shares of Reservoir will continue to trade on the TSX Venture
Exchange ("TSX-V") under the symbol "REO" and on the Frankfurt and Berlin
Exchanges under the symbol "ROC". At this time the common shares of Minerals are
not currently listed on any exchange. Minerals continues to work toward
obtaining final listing approval of the TSX-V with respect to the listing of its
common shares and further updates in this regard will be provided when
available.


About the Company 

Reservoir Capital Corp. is a renewable energy company, engaged in development of
a 58.4 MW hydroelectric project at Brodarevo in southwest Serbia. Reservoir
holds four geothermal exploration licenses in Serbia and has applied for three
hydroelectric licenses on the Cehotina River in Bosnia (17.75 MW) and one to
develop a 32 MW project from an existing reservoir dam at Vrutci in Serbia.
Reservoir's common shares trade on the TSX Venture Exchange (symbol "REO") and
on the Frankfurt and Berlin Exchanges (symbol "ROC"). 


About Minerals 

Reservoir Minerals Inc. is an international mineral exploration and development
company run by a seasoned technical and management team. Minerals holds a
portfolio of precious and base metal exploration properties in Serbia.  


Except for statements of historical fact relating to the Company, some
statements in this news release contain forward-looking statements and
information ("forward-looking statements"). Forward-looking statements are
frequently characterized by words such as "plan", "expect", "project", "intent",
"believe", "anticipate" and other similar words, or statements that certain
events or conditions "may" or "will" occur. Forward-looking statements are based
on the opinions and estimates of management at the date the statements are made,
and are subject to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from those projected
in the forward-looking statements. These statements include, but are not limited
to, statements with respect to the listing of the common shares of Minerals on
the TSX-V. These statements address future events and conditions and, as such,
involve known and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements to be materially different from
any future results, performance or achievements expressed or implied by the
statements. Such factors and assumptions include, among others, the effects of
general economic conditions, the price of natural resources, changing foreign
exchange rates and actions by government authorities, uncertainties associated
with legal proceedings and negotiations and misjudgements in the course of
preparing forward-looking information. In addition, there are known and unknown
risk factors which could cause the Company's actual results, performance or
achievements to differ materially from any future results, performance or
achievements expressed or implied by the forward-looking statements. 


Known risk factors include risks associated with the ability to obtain any
necessary approvals, waivers, consents and other requirements necessary or
desirable to permit or facilitate the Spin-out Transaction; the risks that any
applicable conditions of the proposed transaction may not be satisfied, risks
associated with project development; the need for additional financing;
operational risks associated with mining and mineral processing; the
uncertainties involved in interpreting drilling results and other ecological
data; fluctuating metal prices; the possibility of project cost overruns or
unanticipated costs and expenses; uncertainties relating to the availability and
costs of financing needed in the future; title matters; environmental liability
claims and insurance; reliance on key personnel; the potential for conflicts of
interest among certain officers, directors or promoters of the Company with
certain other projects; currency fluctuations; competition; dilution; the
volatility of the Company's common share price and volume; tax consequences to
investors; and other factors described in the section entitled "Risks" in the
Company's Management's Discussion and Analysis for the year ended April 30, 2011
and other risks and uncertainties. Forward-looking statements are made based on
management's beliefs, estimates and opinions on the date that statements are
made and the Company undertakes no obligation to update forward-looking
statements if these beliefs, estimates and opinions or other circumstances
should change, expect as required by applicable securities law. Circumstances or
management's estimates or opinions could change. The reader is cautioned not to
place undue reliance on forward-looking statements.

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