Orsa Announces Exercise of the Option for the Quartz Mountain and Angel's Camp Properties, Approval of NI 43-101 Technical Re...

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Orsa Ventures Corp. ("Orsa" or the "Company") (TSX VENTURE:ORN) wishes to
announce that the TSX Venture Exchange (the "Exchange") has granted regulatory
approval for exercise of an option (the "Option Agreement") with Seabridge Gold
Inc. (TSX:SGC) ("Seabridge") to earn a 100% interest in the Quartz Mountain gold
property (the "Quartz Mountain Property") and all of Seabridge's undivided 50%
beneficial joint venture interest in the adjacent Angel's Camp gold property
(the "Angel's Camp Property", collectively with Quartz Mountain, the
"Properties"). The Properties are located in Lake County, southern Oregon on the
northern extension of the Basin and Range Province of Nevada. Both properties
are subject to underlying royalties and Angel's Camp is subject to the 50% joint
venture interest of Golden Predator Corp. ("Predator") (TSX:GPF). The Option
Agreement was originally announced in the Company's news release of October 24,
2011 and amended in a news release dated February 15, 2012.


The Exchange has also granted final approval of the National Instrument 43-101
("NI 43-101") Technical Report on the Properties prepared by Michael Lechner,
PGeo, Resource Modeling Inc., and John Churchill, PGeo, and William R. Gilmour,
PGeo, Discovery Consultants - all Qualified Persons under NI 43-101.


In addition, the Company wishes to announce that it has closed its non-brokered
private placement (the "Financing") and issued 11,678,667 common shares of the
Company (each a "Share") at a price of $0.15 per Share for aggregate gross
proceeds of $1,751,800. Finders' fees related to the Financing were comprised of
6% cash and 6% warrants (each, a "Finder Warrant") and aggregated $103,194 and
687,960 Finder Warrants respectively. Each Finder Warrant entitles the holder to
purchase one common share at an exercise price of $0.25 for a period of 12
months. Proceeds of the Financing will be used to fund the exploration and
development of the Company's Nevada and Oregon mineral properties and for
general corporate purposes. All securities issued in the Financing will be
subject to a hold period under applicable securities laws expiring four months
and one day following issuance.


The Properties

The Quartz Mountain Property, consisting of 86 unpatented lode mining claims, is
a volcanic-hosted, hot-spring gold deposit. Gold mineralization occurs within
late Miocene rhyolite porphyry domes and adjacent basaltic flows, tuffs and
volcaniclastic rocks.


The NI 43-101 Technical Report contains an updated, undiluted inferred mineral
resource estimate of 2,848,000 ounces of gold. This mineral resource estimate is
based on approximately 80,000 metres of diamond and reverse circulation drilling
completed on the Crone Hill and Quartz Butte zones in the 1980's and certain
economic assumptions. A conceptual pit was generated using a gold price of US
$1500 per ounce. Reasonable mining and processing costs and leach/mill recovery
rates were used in the algorithm to generate the conceptual pit using a constant
pit slope angle of 45 degrees. Inferred Resources were then tabulated inside the
conceptual pit for oxide and sulphide material using gold cutoff grades of 0.006
and 0.017 ounces per ton, respectively. The table below summarizes the undiluted
inferred mineral resource estimate for the Crone Hill and Quartz Butte zones.




Undiluted Inferred Mineral Resource

--------------------------------------------- ------------------------------
                       Imperial Units                  Metric Units         
               ------------------------------ ------------------------------
                                           Au                             Au
                    Au                   Oz s      Au                   Oz s
                Cutoff     Tons     Au  (000)  Cutoff   Tonnes     Au  (000)
Area/Material    (opt)    (000)  (opt)    (1)   (g/t)    (000)  (g/t)    (1)
--------------------------------------------- ------------------------------
Crone Hill                                                                  
 Oxide           0.006   46,345  0.018    834    0.21   42,044   0.62    834
--------------------------------------------- ------------------------------
Crone Hill                                                                  
 Sulfide         0.017   41,320  0.030  1,240    0.58   37,486   1.03  1,240
--------------------------------------------- ------------------------------
Total Crone                                                                 
 Hill              n/a   87,665  0.024  2,074     n/a   79,530   0.81  2,074
--------------------------------------------- ------------------------------
--------------------------------------------- ------------------------------
                       Imperial Units                  Metric Units         
               ------------------------------ ------------------------------
                                           Au                             Au
                    Au                   Oz s      Au                   Oz s
                Cutoff     Tons     Au  (000)  Cutoff   Tonnes     Au  (000)
Area/Material    (opt)    (000)  (opt)    (1)   (g/t)    (000)  (g/t)    (1)
--------------------------------------------- ------------------------------
Quartz Butte                                                                
 Oxide           0.006   24,365  0.019    463    0.21   22,104   0.65    463
--------------------------------------------- ------------------------------
Quartz Butte                                                                
 Sulfide         0.017    9,716  0.032    311    0.58    8,814   1.10    311
--------------------------------------------- ------------------------------
Total Quartz                                                                
 Butte             n/a   34,081  0.023    774     n/a   30,918   0.78    774
--------------------------------------------- ------------------------------
--------------------------------------------- ------------------------------
                       Imperial Units                  Metric Units         
               ------------------------------ ------------------------------
                                           Au                             Au
                    Au                   Oz s      Au                   Oz s
                Cutoff     Tons     Au  (000)  Cutoff   Tonnes     Au  (000)
Area/Material    (opt)    (000)  (opt)    (1)   (g/t)    (000)  (g/t)    (1)
--------------------------------------------- ------------------------------
Total Oxide      0.006   70,710  0.018  1,297    0.21   64,148   0.63  1,297
--------------------------------------------- ------------------------------
Total Sulfide    0.017   51,036  0.030  1,551    0.58   46,300   1.04  1,551
--------------------------------------------- ------------------------------
Total Project      n/a  121,746  0.023  2,848     n/a  110,448   0.80  2,848
--------------------------------------------- ------------------------------
Notes:                                                                     
(1) Contained gold ounces - not recovered ounces                            
Short ton conversion to metric tonnes (ton x 0.9072 = metric tonne)       
Ounces per ton to grams per tonne conversion (opt/0.0292 = g/t)             



Note: Mineral Resources which are not Mineral Reserves do not have demonstrated
economic viability. Inferred Mineral Resources have a high degree of uncertainty
as to their existence, and a great uncertainty as to their economic and legal
feasibility. It cannot be assumed that all or any part of an Inferred Resource
will ever be upgraded to a higher category.


The Angel's Camp Property consists of 158 unpatented lode mining claims
contiguous with the Quartz Mountain Property. Mineralization at the Angel's Camp
Property is part of the large, district-scale epithermal mineralizing system
associated with Tertiary volcanic activity. Drilling to date has focused on high
grade veins hosted within late Miocene, rhyolite, porphyry domes and adjacent
tuffs and volcaniclastic rocks. Both 2004 and 2009 drill programs confirmed the
existence of bonanza-style gold mineralization within broad intercepts of lower,
potentially bulk mineable, grades within surrounding volcanic and volcaniclastic
rocks such as occurs at Quartz Mountain. There are other unexplored rhyolite
dome structures on the property.


The Angel's Camp Property will be operated under a joint venture agreement (the
"JV Agreement") between Predator and Seabridge. Under the terms of the Option
Agreement, Orsa is responsible for Seabridge's obligations under the JV
Agreement, and is required to maintain Seabridge's percentage interest in the
joint venture during the term of Orsa's option in respect of the Angel's Camp
Property. Under the terms of the JV Agreement, Predator is the operator on the
Angel's Camp Property.


About Orsa

Orsa Ventures Corp. is a junior company focused on the exploration for, and
development of, gold-silver-copper properties in the western United States. In
addition to the Quartz Mountain and Angel's Camp Properties, Orsa has an option
to earn a 51% interest in the Ashby Gold Property, a porphyry copper gold target
in Walker Lane Mining Trend in Nevada through an agreement with Bridgeport
Ventures Inc. Orsa also has an option to earn a 100% interest in the Coal Canyon
Gold Property on the Oreama Mining Trend in Nevada where more than 10 million
ounces has been discovered since 2009. The Company continues to actively seek
new acquisitions to expand its precious metal holdings.


On behalf of the Board of Directors,

Linda Thorstad, President and Chief Executive Officer

Linda Thorstad, P. Geo., a Qualified Person as defined by National Instrument
43-101 and President and Chief Executive Officer of the Company, has read and
approved the technical information in this news release.


FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements that are based on the
Company's current expectations and estimates. Forward-looking statements are
frequently characterized by words such as "plan", "expect", "project", "intend",
"believe", "anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or "will" occur, and
include, without limitation, statements regarding the Company's plans with
respect to the closing of the Financing and the use of proceeds thereof. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors that could cause actual events or results to differ materially
from estimated or anticipated events or results implied or expressed in such
forward-looking statements. Any forward-looking statement speaks only as of the
date on which it is made and, except as may be required by applicable securities
laws, the Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information, future events
or results or otherwise. Forward-looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on such statements
due to the inherent uncertainty therein.