Orsa Reconfirms Mineralization at Quartz Mountain Property

Orsa Ventures Corp. ("Orsa" or the "Company") (TSX VENTURE:ORN) is pleased to
announce positive results from the first set of assays returned at its
wholly-owned Quartz Mountain Property, in Lake County Oregon, USA.


Quartz Mountain is a volcanic-hosted, hot-spring gold deposit on the northern
extension of the Basin and Range geologic province which has produced 186
million troy ounces of gold up to 2011. Orsa has the right to earn a 100 percent
interest in a portion of the property and a 50 percent joint venture interest in
the adjacent property. The 100 percent portion of the property contains an
undiluted, inferred mineral resource estimate of 2.85 million ounces of gold
(110,448,000 tonnes grading 0.8 grams per tonne gold), in the Quartz Butte and
Crone Hill zones, as defined in a March 2012 NI 43-101 Technical Report (News
Release February 15, 2012). The inferred resource was based on almost 80,000
metres of drilling in 709 holes completed in the 1980s.


In 2004, a drill program focused on testing high grade veins within the broader
envelope of low grade, bulk-minable mineralization at Quartz Butte and Crone
Hill. Given the focus on high grade vein systems for those drill programs, the
majority of the core was not split, logged, nor assayed. That core has been
relocated to Orsa's new core logging facility in Lakeview.


The Company's immediate priorities are twofold: first, a detailed logging and
sampling for the core drilled in 2004 and, secondly, siting and permitting of a
1,500 metre confirmation drill program. Nine diamond drill holes were completed
on Crone Hill and Quartz Butte in 2004. In all, Quincy drilled three holes on
Crone Hill for 2,377 feet (725 metres), and six holes on Quartz Butte for 5,789
feet (1764 metres).


Preliminary results on sections submitted to date intercepted gold
mineralization as anticipated. At Quartz Butte, hole QM-729 intersected 86.9
metres grading 0.49 g/t and 21.3 metres grading 0.91 g/t gold, and hole QM-732
intersected 62.5 metres grading 1.14 g/t gold and 4.3 g/t silver. These drill
holes confirm the grade of mineralization. They were not incorporated in the
March 2012 NI 43-101 resource estimate.


Orsa Ventures has implemented a comprehensive QA/QC program consisting of
blanks, sample duplicates and reference samples to ensure best practices are
followed and the data collected is of the highest quality. All samples are
prepared to normal industry standards and assayed for gold by fire assay with AA
finish by ALS Minerals of Reno, accredited to ISO/IEC 17025-2005 standards to
provide complete assurance regarding quality performance in every aspect of
their network. Intercepts are close to true thickness.


Reported intervals must be at least 1.5 meters wide; drill hole intercepts are
reported at a 0.2 g/t Au cutoff. Intervals contain no more than six low-grade to
barren samples between mineralized samples containing over 0.2 g/t Au.


Confirmation Drilling

The aim of Orsa's Phase One drill program, consisting of 10 holes in 1,500
metres, is to further confirm the model determined by historic drilling and to
validate the previous dataset enabling an up-to-date resource calculation
compliant with the current NI 43-101 norms. The drill plans can be viewed at
www.orsaventures.com/i/CH_121026.gif and www.orsaventures.com/i/QB_121026v2.gif
on the Orsa website.


Orsa has completed a detailed review of 1980 drill results concluding that
several historic holes were twinned with good reproducibility and duplicate
assays results were also checked. Twinned holes representing approximately 5% of
the original diamond-drill holes that served to calculate the historical
resource.


Linda Thorstad, President and CEO states: "The confirmation drilling remains a
fundamental step towards advancing the resource at Quartz Mountain, and in this,
the ability to use the historical dataset provides a significant advantage
allowing us to save both time and capital".


Drill Program Permitting

Orsa retained Enviroscientists, Inc. of Reno, Nevada to assist with the
permitting of the Phase One drill program. Required background environmental and
cultural surveys have been completed and a formal Plan of Operations submitted
to the US Forest Service.


Notice for the program was published on October 17, 2012 in the Klamath Falls
Herald newspaper and represents the first official notification of Orsa's
proposed Plan of Operations for drilling in the Fremont National Forest. 


Bruno Barde P. Geo., manages Orsa's exploration and development programs at
Quartz Mountain and is the Qualified Person as defined by National Instrument
43-101. He supervised the preparation of the technical information in this
release.


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 Property, Orsa recently announced the discovery
of significant sediment-hosted gold system at its Coal Canyon Property in the
Oreana Mining Trend, Nevada, where over 10 million ounces has been discovered
since 2009. The Company also has the right to earn a 51% interest Ashby
Property, a former gold producer and porphyry copper-gold target, located in the
Walker Lane Mining Trend, host to several large copper and gold deposits in
Nevada.


On behalf of the Board of Directors,

Linda Thorstad, President and Chief Executive Officer

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Orsa Ventures Corp.
Linda, President and Chief Executive Officer
604.608.6680
www.orsaventures.com