PAL Parallel Mining Corp

Parallel Announces TSX Venture Exchange Approval to Amendment of Previously Issued Warrants

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 29, 2014) - Parallel Mining Corp. (the Company) (TSX-VENTURE:PAL) announces further to its News Release dated January 21, 2014, that on January 22, 2014 it received acceptance from the TSX Venture Exchange to amendments of the following previously issued Warrants:

• 5,020,000 Warrants previously expiring on February 24, 2014 have been extended to expire February 24, 2016; and

• 4,543,000 of those Warrants have been re-priced from $0.25 to $0.205 per share, with the balance 477,000 warrants held by Insiders remaining exercisable at $0.25 until February 24, 2016.

ON BEHALF OF THE BOARD

Richard Barnett, CFO

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.

Parallel Mining Corp.Richard BarnettCFO(604) 718-2800(604) 718-2808