Morumbi Announces Appointment of Mr. Kurt Menchen to the Board of Directors

TORONTO, ONTARIO--(Marketwired - Oct. 29, 2015) - Morumbi Resources Inc. (TSX VENTURE:MOC) ("Morumbi" or the "Company") wishes to announce the appointment of Mr. Kurt Menchen to the Board of Directors. Mr. Menchen has over 37 years' of experience operating and managing mining projects on several continents. He currently acts as president of operations of Vanádio de Maracás, a wholly owned subsidiary of Largo Resources Ltd. He initially joined Largo Resources at the end of 2006, initially acting as country manager for its vanadium exploration project in Brazil. Mr. Menchen was instrumental in bringing the project from exploration through its development, financing, construction and into operation by mid-2014.

His prior experience includes more than 20 years as General Manager at the Jacobina Gold project in Bahia State, Brazil where most recently he was a key participant in the reopening of the Jacobina gold mine by Desert Sun Mining from 2002 to 2006. In 2006 the operation was sold to Yamana Gold making it one of the biggest mining deals of that year.

His prior experience also includes Anglo American's Vaal Reefs underground gold mine in South Africa and De Beers diamond operations in Angola. Mr. Menchen holds a degree in mining engineering from the Federal University of Rio Grande do Sul, Brazil.

About Morumbi Resources

Morumbi is a public company focused on evaluating resource opportunities in Papua New Guinea. It also has a legacy light oil property in northwest Alberta. The Company trades on the TSX Venture Exchange under the symbol "MOC".

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.

Cautionary Note Regarding Forward-Looking Information

This press release includes certain "forward-looking information" within the meaning of applicable Canadian securities legislation.

Forward-looking information is based on reasonable assumptions that have been made by Morumbi as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Morumbi to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; that all conditions precedent to the Offering will be met; that any accretive acquisitions, as a result of current discussions pertaining to mineral resource assets in Latin America or otherwise, will be completed; problems inherent to the marketability of base and precious metals; industry conditions, including fluctuations in the price of base and precious metals, fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects Morumbi; stock market volatility; competition; risk factors disclosed in Morumbi's most recent Management's Discussion and Analysis available electronically on SEDAR; and such other factors described or referred to elsewhere herein, including unanticipated and/or unusual events. Many such factors are beyond Morumbi's ability to control or predict.

Although Morumbi has attempted to identify important factors that could cause actual outcomes to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate as actual outcomes and future events could differ materially from those reliant on forward-looking information.

All of the forward-looking information given in this press release is qualified by these cautionary statements and readers are cautioned not to put undue reliance on forward-looking information due to its inherent uncertainty. Morumbi disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by law. This forward-looking information should not be relied upon as representing the Company's views as of any date subsequent to the date of this press release.