Orsa Reviews 2012 Progress

Orsa Ventures Corp. (TSX VENTURE:ORN) ("Orsa" or the "Company") is pleased to
announce significant progress for Company growth in 2012 and solid development
plans for 2013. During the year, Orsa added additional expertise to its already
accomplished management team, added a large gold resource to its Western United
States portfolio, announced a new gold discovery in central Nevada and completed
a significant financing supported by Haywood Securities, Canaccord Wealth
Management and Pacific International Securities. With an experienced team of
mine development professionals, Orsa added Mr. Bruno Barde, P.Geo., Mr. Micheal
Attaway, P.E., and Mr. William Rohtert, as consultant to the team. Mr. Attaway
has built six major mines in the Western United States.


QUARTZ MOUNTAIN

The Quartz Mountain Property located in southern Oregon is host to a large
epithermal, gold bearing system located on the northern extension of the Basin
and Range Geologic Province located largely in Nevada. The property contains a
2.85 million ounce Inferred gold Resource (110,448,000 tonnes grading 0.80 grams
per tonne gold) with excellent exploration upside.


In 2012, the Orsa team conducted technical and legal diligence, exercising its
option to acquire the Quartz Mountain property from Seabridge Gold and its US
subsidiary, and releasing an updated NI 43-101 Technical Report on the property.
In addition Orsa retained the law firm of Perkins Coie to complete a land title
search and permitting opinion. A comprehensive overview of the permitting
process and framework led to the conclusion that the potential for successful
permitting of the project is high. Subsequent to this opinion, the Department of
Oregon Geology and Mining (DOGAMI) has publicly released a detailed flow chart
for the permitting of a "Chemical Process Mine".


Data Compilation - In the six months following the closing the private placement
and completion of the option agreement, Orsa has added significant value to the
project. With an estimated $55-60 million spent on historic exploration, Orsa
has reviewed and completed extensive checks on the data base, reconfirmed the
geologic model and regenerated sections to more accurately reflect
mineralization. In the absence of a comprehensive data package, the team has
compiled an extensive library of reports related to development of the project
including but not limited to, three feasibility studies dated 1989, 1990 and
1991; plans of operations dating back to 1985 including a 1987 Plan of Operation
for a Pilot Test Heap Leach Project; environmental opinions and reports
including a comprehensive baseline study completed in 1989 as well as regional
geochemical and geophysical survey data. In addition, drill core has been
located from 2004 and 2009 drill programs.


Infrastructure - Orsa has built out the infrastructure to support ongoing
development of the project with the opening of an office and core storage
facility in Lakeview Oregon.


Metallurgy - A JDS Engineering consultant recently completed a review of
metallurgical test work completed to date on the mineralization and will be
making recommendations for future work.


Relogging and Re-assaying of Quincy holes - Up to 5,000 metres of core was
drilled in 2004 and 2009 through the Crone Hill and Quartz Butte deposits
exploring for deeper, high-grade feeder systems. The transport of that archived
drill core from a Nevada storage facility to the new Lakeview facility was
substantially completed in 2012.


Following the design of routine protocol and procedures including data
verification, relogging and sampling was initiated in the third quarter at
Orsa's new facility. QA/QC testing is done as samples are submitted and assayed.
Sections to display results and interpretation are in progress. Preliminary
results released in a news release dated October 30, 2012 intercepted gold
mineralization as anticipated.


Proposed drilling at Crone Hill and Quartz Butte Domes - Drill hole locations
have been sited in consultation with the US Forest Service representatives. A
1,500 metre drill program is planned for the spring of 2013. Geotechnical
logging, geo-metallurgical and metallurgical samples will be taken and packer
tests conducted. This will help in validating the historical data, and obtaining
data for the Preliminary Economic Assessment.


Permitting - Enviroscientists of Reno were retained for preparation of the
formal permit application for the drill program. Their work included background
baseline environmental and cultural studies. The US Forest Service notice of
decision was posted on October 17, 2012 for public comment and representatives
are in the process of responding to comments arising.


Exploration upside - Orsa considers that there remains exploration upside at
both the Crone Hill and Quartz Butte domes. It is also working to expand its
strategic land position in the area in order to enhance the exploration for the
project.


COAL CANYON UPDATE

The exploration discovery at the Coal Canyon Property near Lovelock, Nevada, is
sediment hosted gold mineralization typical of the Oreana Mining Trend. Orsa
completed reconnaissance mapping and two phases of trenching reported that a
phase trenching on the property. In a news release dated May 1, 2012, Orsa
reported positive results from the phase one program with a zone grading a
weighted average of 0.015 ounces Au/ton over 142 feet (0.52 grams Au per tonne
over 43.3 metres). Orsa added two additional sections under lease with New
Nevada Land and New Nevada Resources bringing its expanded land position to
1,300 acres. On December 3, 2012 Orsa announced results of a phase two program
with samples grading a weighted average of 0.023 ounces per ton over 152 feet
(0.72 gpt over 46.3 metres). Several other altered zones were also exposed in
the trenching program. Results have generated significant interest in the
property.


ASHBY

The target at the Ashby Property is a porphyry copper-gold system in the
prolific Walker Lane Zone in Nevada. Following the acquisition of 153 claims in
2011 at the Ashby Property, mapping, sampling along with a 10 line-kilometre
Induced Polarization survey were completed in 2012. The four line survey
outlined a large anomalous zone that substantiates the potential model for
mineralization. Orsa has recently received approval from the Bureau of Land
Management for a proposed trenching program in 2013.


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 development company focused on the exploration
for, and development of, gold-silver-copper properties in the western United
States. Orsa has a 2.85 million ounce Inferred gold Resource (110,448,000 tonnes
grading 0.80 grams per tonne gold) on its Quartz Mountain Property, southern
Oregon with excellent exploration upside. In addition, 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 Thorstad
President and Chief Executive Officer
604.608.6680
604.558.0087 (FAX)
www.orsaventures.com