SAX Icon Exploration, Inc.

Samaranta Mining Corporation (TSX VENTURE:SAX) announces it has entered into an
agreement (the "JVA") with Sociedad Minera Medio Ambiental Y Ecologica "Oro
Solido" Sociedad Por Acciones Simplificada Sas ("Sociedad Minera"), to evaluate,
and if deemed economic, re-process certain mine tailings located in Segovia,
Antioquia, Colombia ("the Tailings"). Segovia is host to Frontino Gold Mines, a
high grade underground mine that has been in production for over 150 years and
is currently operated by Gran Colombia Gold Corp. The Tailings are primarily
situated in two tailings piles within the municipality of Segovia and were
derived both from Frontino Gold Mines as well as numerous smaller mining
operations. Under the terms of the JVA, Sociedad Minera, who was awarded by the
Municipality of Segovia in January 2012 the exclusive right to reprocess and
treat the Tailings, has granted Samaranta, subject to completion of due
diligence, the exclusive right to reprocess the Tailings. As part of its due
diligence, Samaranta will assess the quantity and mineral content of the
Tailings, and the feasibility of economically re-processing the Tailings
including environmental remediation of any re-processed tailings material. 


Based upon the due diligence indicating the project to be economically viable,
Samaranta and Sociedad Minera shall enter into a joint venture (the "Joint
Venture") wherein Sociedad Minera shall contribute to the venture its rights to
treat the Tailings and Samaranta shall contribute to the venture the necessary
technical capabilities, management, equipment, extraction techniques, and the
financial resources required to obtain a commercial recovery of any minerals,
metals or other commercially saleable products from the Tailings (the "Extracted
Products and the environmental remediation of any re-processed tailings
material. Upon Samaranta providing notice it will proceed with the Joint
Venture, a management committee shall be established comprised of five (5)
members of which Sociedad Minera shall appoint two (2) members and Samaranta
shall appoint three (3) members.


Upon achieving production each of the parties will have a share in net profit
("Net Profit") from the sale or commercial recovery of any Extracted Products as
follows:




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If the Capital Costs to place the Tailings into production are US$ 80      
million or less                                                           
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Net Profits to   Net Profits to                                            
Samaranta        Sociedad Minera  Until                                    
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86%              14%              all Initial Capital Costs are repaid to  
                                  Samaranta, then                          
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70-85%           15-30%           profits to Sociedad Minera increase 1%   
                                  per year up to a maximum 30%             
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If the Capital Costs to place the Tailings into production are greater than
US$ 80 million                                                            
---------------------------------------------------------------------------
Net Profits to   Net Profits to                                            
Samaranta        Sociedad Minera  Until                                    
---------------------------------------------------------------------------
88%              12%              all Initial Capital Costs are repaid to  
                                  Samaranta, then                          
---------------------------------------------------------------------------
75-87%           13-25%           profits to Sociedad Minera increase 1%   
                                  per year up to a maximum 25%             
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"With this agreement Samaranta has the potential to generate a resource in a
shortened period of time and then bring it into production much faster than a
greenfield project, assuming positive economics," stated Volkmar Hable, Director
of Samaranta Mining Corporation. This is potentially a game changer for our
shareholders. 


The agreement is subject to regulatory approval if and as required. 

In connection with entering into the JVA and in recognition of the potential
significance of this project together with the potential prospectivity of the
Guadalupe Property, the Board of Directors has recognized the importance of
having greater senior management presence in Colombia. In order to best address
this situation, Dr. Hable, whose efforts were integral in acquiring the rights
to this asset and the Guadalupe property, has stepped down as President and CEO
and has been appointed Executive Vice President, Mining and Exploration with a
view to focusing his activities on the Company's Colombian Projects. Gunther
Roehlig, Director, has agreed to act, and has been appointed interim President
and CEO until a qualified senior operations individual is identified to lead the
Company in its next phase of development. 


SAMARANTA MINING CORPORATION

Volkmar Hable, Director

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