MCM Capital One Inc. Update on Proposed Qualifying Transaction With Siguiri Gold Mining Corp.

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SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.


MCM Capital One Inc. (TSX VENTURE:ZGN.P) ("MCM"), a capital pool company as
defined under Policy 2.4 ("Policy 2.4") of the TSX Venture Exchange (the
"Exchange"), is pleased to provide this Press Release to its shareholders and
members of the public to update shareholders and others with respect to its
proposed "Qualifying Transaction", as defined by Policy 2.4, with Siguiri Gold
Mining Corp. ("Siguiri") as previously announced on July 18, 2012, in respect to
a proposed amalgamation (the "Transaction") of the parties. It is anticipated
that the issuer resulting from the Transaction (the "Resulting Issuer") will be
known as "Siguiri Gold Mining Corp." or such other similar name, subject to
Exchange approval.


About Siguiri Gold Mining Corp.

Siguiri is a private company incorporated on February 10, 2011 under the laws of
the Business Corporations Act (Ontario). Siguiri Mining Guinea Ltd. ("Siguiri
Mining"), a wholly owned subsidiary of Siguiri, has entered into an option
agreement (the "Option Agreement") with Samaranta Mining Corporation ("SMC"), an
Exchange listed issuer, to acquire all of the shares (the "Optioned Shares") of
a private Guinea company, which owns 80% of the shares of another private Guinea
company that owns a 100% interest in 14,000 Ha of exploration concessions (the
"Property") in highly prospective areas in Guinea next to producing mines. The
Property is approximately 2 1/2 hours by car South West of Bamako Mali in West
Africa and is located in the Birimian Greenstone Belt. The Property has several
potential drill targets with similar geological, alteration and mineralization
characteristics as other Birimian Greenstone Belt gold projects. The Property is
located within approximately 10km of the AngloGold Ashanti Ltd., Siguiri Gold
Mine in Guinea.


Pursuant to the Option Agreement, Siguiri Mining has the exclusive right and
option to purchase the Optioned Shares from SMC in exchange for up to $1,125,000
(payable by Siguiri), up to 1,500,000 shares of Siguiri, $2,500,000 in
exploration expenses on the Property (payable by Siguiri), and a 2% net smelter
royalty on the Property, to be completed in four tranches. The first tranche was
completed on October 7, 2011 and Siguiri Mining was issued 3.5% of the Optioned
Shares in exchange for $125,000 and 100,000 shares of Siguiri. The second, third
and fourth tranches are scheduled to close annually on October 7, 2012, 2013 and
2014.


Summary of the Transaction

Under the terms of a letter of intent, dated July 23, 2012, between MCM and
Siguiri (the "LOI"), each of MCM and Siguiri have agreed to diligently and in
good faith negotiate a definitive agreement (the "Amalgamation Agreement") that
will effect the Transaction in compliance with Policy 2.4 and use their
reasonable commercial efforts to execute the same on or before August 30, 2012.
Each of MCM and Siguiri have agreed that the Amalgamation Agreement will
incorporate the principal terms of the Transaction contemplated in the LOI and
contain customary provisions typical for a transaction of this type and, when
executed by the MCM and Siguiri, will supersede the terms of the LOI.


The amalgamation will be completed by way of Amalgamation Agreement entered into
between MCM and Siguiri. Under the Amalgamation Agreement, holders of common
shares and other securities (options and warrants) of MCM will receive
securities of the Resulting Issuer on the basis of one for one, and the holders
of common shares and other securities (options and warrants) of Siguiri will
receive securities of the Resulting Issuer on the basis of 1.193 for one.


The deemed transaction price for the Transaction is $0.25 per share of MCM. The
24,399,573 shares (the "Consideration Shares") to be issued to the shareholders
of Siguiri represent a deemed purchase price of $6,099,893.


After completion of the Transaction and assuming the completion of the Private
Placement (on the terms described below) it is anticipated that an aggregate of
37,749,573 common shares of the Resulting Issuer will be issued and outstanding.
The shareholders of MCM will hold approximately 8.87% of the shares of the
Resulting Issuer, shareholders of Siguiri will hold approximately 64.64% of the
shares of the Resulting Issuer and the subscribers in the Private Placement will
hold approximately 26.49% of the shares of the Resulting Issuer.


The Transaction constitutes an arm's length transaction according to the
policies of the Exchange.


Shareholder Approval

As a matter of corporate law, approval of Siguiri shareholders may be required
for the Transaction. However, as the Transaction does not constitute a non-arm's
length transaction, shareholder approval of the Transaction by the shareholders
of MCM is not required under Exchange policies.


Closing Date

In accordance with the LOI, the closing date of the Transaction will be as soon
as practical following the satisfaction or waiver of the conditions precedent of
the Amalgamation Agreement, or such other date as mutually agreed to by MCM and
Siguiri, but in any event no later than December 31, 2012.


Financial Information

On the basis of the unaudited financial statements for the period ended May 31,
2012, Siguiri had total assets of $383,318.65, liabilities of $10,590.55,
shareholders' equity of $372,728.10, and working capital of $17,489.89.


The Private Placement

In connection with the Transaction, it is anticipated that MCM and Siguiri will
complete a concurrent private placement (the "Private Placement") of up to ten
million (10,000,000) units (each, a "Unit") at a price per Unit of $0.25 for
gross proceeds of up to $2,500,000 into either Siguiri or the Resulting Issuer.
Each Unit will be comprised of one common share (a "Common Share") in the
capital of the Resulting Issuer and one-half of one Common Share purchase
warrant (a "Warrant"). Each whole Warrant shall be exercisable for one Common
Share at an exercise price of $0.40 for a period of two years from the listing
of the Resulting Issuer on the Exchange. The Private Placement will remain
subject to the approval of the Exchange.


The Resulting Issuer intends to use the proceeds of the Private Placement to
fund the costs associated with completing the Transaction, to fund the business
plan of the Resulting Issuer and to fund the general working capital expenses of
the Resulting Issuer.


Sponsorship of Qualifying Transaction

MCM intends to make application to Exchange that the Qualifying Transaction
should be exempt from sponsorship requirements pursuant to Exchange Policy 2.2
as a result of its completion of private placement of $500,000 or more as
referred to above.


Loan to Siguiri

Pursuant to the terms of the LOI, MCM will, as soon as practicable following the
date of the LOI, advance to Siguiri $25,000 as an unsecured loan (the "Unsecured
Loan") to be applied by Siguiri to preserve its assets. Subject to Exchange
approval, as soon as possible after the date of this Press Release, MCM will
advance to Siguiri $75,000 as a secured loan (the "Secured Loan") to be used by
Siguiri to pay for: (a) geological work, and (b) general and administrative
costs. The Secured Loan will be secured by a general security agreement executed
by Siguiri in favour of MCM constituting a secured charge on all the personal
property of Siguiri.


Conditions to Closing the Transaction

As set out in the LOI, the closing of the Transaction will be subject to without
limitation, the following mutual conditions precedent:


(1) the execution of the Amalgamation Agreement;

(2) the approval of the Transaction by a requisite majority of the shareholders
of Siguiri and MCM; 


(3) the completion of the Private Placement; 

(4) the receipt of all necessary regulatory, corporate and third party
approvals, including the approval of the Exchange, and compliance with all
applicable regulatory requirements and conditions in connection with the
Transaction; 


(5) the maintenance of MCM's current listing on the Exchange; 

(6) the confirmation of the representation and warranties of each of MCM and
Siguiri to the Amalgamation Agreement as set out in such agreement; 


(7) the absence of any material adverse effect on the financial and operational
condition or the assets of each of MCM and Siguiri to the Amalgamation
Agreement; 


(8) the delivery of standard completion documentation including, but no limited
to, legal opinions, officers' certificates and certificates of good standing;
and 


(9) other conditions precedent customary for a transaction such as the Transaction.

Pursuant to the LOI, the conditions precedent in favour of MCM may be waived in
whole or in part by MCM and the conditions precedent in favour of Siguiri may be
waived in whole or in part by Siguiri.


Exchange Listing

Upon completion of the Transaction, it is anticipated the Resulting Issuer will
be a Tier II Mining Issuer under the policies of the Exchange.


In accordance with Exchange policy, MCM's shares are currently halted from
trading. Trading will resume upon completion of the Qualifying Transaction.


Management and Directors

Upon completion of the transactions described, the Resulting Issuer's board of
directors will be comprised of: Rob Fia, Dr. Volkmar Guido Hable and Tim
Peterson. The proposed senior officers will be: Rob Fia (President), Dr. Volkmar
Guido Hable (Chief Executive Officer), Tak Wing Law (Chief Financial Officer)
and Barry M. Polisuk (Secretary).


The background of each of the proposed directors and senior officers of the
Resulting Issuer are as follows:


Rob Fia

Mr. Fia has gained significant experience working with junior mining companies
by delivering equity related financing products, largely focused on the natural
resources sector. As a senior finance professional, Mr. Fia has been involved in
numerous mining and oil and gas transactions. He also helped found or co-found
several companies focused on gold exploration and oil and gas in Africa, Canada,
Chile and Colombia. Mr. Fia has an extensive contact base in the investment
community and the mining sector as well as has developed a good grasp of the TSX
and TSXV listing process and guidelines and strong corporate governance
principles. Mr. Fia's 10 years' experience in the investment business has
encompassed both research and corporate finance. Over the past 7 years Mr. Fia
has worked with a number of promising young mining oil & gas companies and has
advised their executives on a number of business matters including corporate
finance, strategy, expansion, mergers and acquisitions, concept creation,
private equity, corporate development, and corporate governance. Since starting
in investment banking with Kingsdale Capital Markets Inc., Mr. Fia has moved to
a senior-level investment banking position, which he currently maintains and has
been involved in several multi-million dollar financings and advisory
transactions in mining, oil and gas, technology, and healthcare. Mr. Fia began
his career as a technology analyst with a Toronto based investment bank in 1999
where several of his buy calls resulted in M&A transactions. In 2002 Mr. Fia
created his own Limited Market Dealer which was involved in financing and
advising high growth companies primarily in the oil and gas mining, alternative
energy and technology. Mr. Fia received his B.Comm. (Honours) degree from the
I.H. Asper School of Business at the University of Manitoba and holds the
Chartered Financial Analyst designation.


Dr. Volkmar Guido Hable

Dr. Hable is a geoscientist and physicist by training and holds a Ph.D. in
geosciences and a B.Sc. in Agriculture and Agronomics. From 1997 to 2001, Dr.
Hable was the CEO for the European operations of Adecco, a 20 billion dollar
Fortune 500 Company where he managed its operations in parts of Europe and some
parts of Asia comprised of 6,000 employees. From 2001 to 2008 Dr. Hable has been
a hedge fund manager for Value Suisse SGH Ltd, a private Swiss based fund with
assets in excess of 700 million Euros and which is focused on investing in
resources and technology opportunities. Previously he held senior executive
positions in the oil exploration industry with Western Geophysical, the
Diplomatic Corps, and a global Engineering Consulting Company where he was
responsible for restructuring and sales in various capacities. Dr. Hable is
fluent in English, Spanish, German and French. He is currently a director of SMC
(which he founded), CEO of Samarium Group Corp. and a director of Samarium Group
Pte Ltd. ("Samarium"), a Singapore investment company. Dr. Hable has been
appointed Consul for the Republic of Guinea in British Columbia.


Tim Peterson

Mr. Peterson brings to the table a strong business acumen of leading high growth
companies as well as extensive experience with northern Ontario mining
companies. Mr. Peterson has been involved in several Exchange listed companies
as both an Executive and a Board member. Currently, Mr. Peterson serves as
Chairman and Director of Trelawney Mining and Exploration Inc. He has also
served as President and Chairman of Nordex Explosives Ltd., a TSX-listed company
that manufactures explosives for the mining and road building industries. From
2003-2007, Mr. Peterson served as a Member of Provincial Parliament in the
Ontario legislature, representing Mississauga South.


Tak Wing Law

Mr. Tak Wing Law is a Certified General Accountant and has over 20-year
experiences as a finance professional and executive. He has worked with various
companies and professional firms in Canada, China and Hong Kong. Mr. Law is now
the Director, Finance of a shareholder services company and has been involved in
a wide range of financial management, corporate reporting and compliance,
auditing, taxation, corporate secretarial and shareholder services. He has a
Master of Arts from University of Oklahoma and Postgraduate Diplomas from Hong
Kong Polytechnic University. In addition, Mr. Law is a Chartered Accountant in
England and Wales, a Certified Public Accountant in Hong Kong.


Barry M. Polisuk

Mr. Polisuk, is a graduate of McGill University and University of Ottawa Law
Schools, having obtained an LL.B. cum laude and a Quebec Civil Law Degree. Mr.
Polisuk was called to the bar in 1988. He has been with Garfinkle Biderman LLP
since 1995 and became a partner in 1997. Mr. Polisuk is a corporate and
commercial lawyer, focused on financings, corporate and commercial work,
including securities. He has served as an officer and director of several
publicly traded companies and he is a currently an officer of Mooncor Oil & Gas
Corp. and Solid Gold Resources Corp.


There are currently 36 shareholders of Siguiri. Samarium owns 31.5% of the
outstanding shares of Siguiri, and Paul Fia of Manitoba, owns 26.3% of the
outstanding shares of Siguiri. No other person owns or controls, directly or
indirectly, more than 10% of the outstanding shares of Siguiri. Dr. Volkmar
Guido Hable of Switzerland, a proposed officer and director of the Resulting
Issuer, is a director and shareholder of Samarium. See "Management and
Directors" above.


Rob Fia, an officer and director of MCM and a proposed officer and director of
the Resulting Issuer, owns 4.0% of the outstanding shares of Siguiri. In
addition, Mr. Fia is a shareholder (11.33%) of Kingsdale Capital Corporation,
which, along with its wholly owned subsidiary, Kingsdale Capital Markets Inc.,
owns 2.1% of the outstanding shares of Siguiri.


About MCM Capital One Inc.

MCM, a capital pool company within the meaning of the policies of the Exchange,
was listed on the Exchange on January 24, 2012. MCM does not have any operations
and has no assets other than cash. MCM's business is to identify and evaluate
businesses and assets with a view to completing a qualifying transaction under
the policies of the Exchange.


For more information on MCM please see its corporate profile on SEDAR at
www.sedar.com.


The information provided in this Press Release regarding Siguiri and its
management has been provided to MCM by Siguiri and has not been independently
verified by MCM.


Completion of the transaction is subject to a number of conditions, including
but not limited to, Exchange acceptance and if applicable pursuant to Exchange
Requirements, majority of the minority shareholder approval. Where applicable,
the transaction cannot close until the required shareholder approval is
obtained. There can be no assurance that the transaction will be completed as
proposed or at all.


Investors are cautioned that, except as disclosed in the management information
circular or filing statement to be prepared in connection with the transaction,
any information released or received with respect to the transaction may not be
accurate or complete and should not be relied upon. Trading in the securities of
a capital pool company should be considered highly speculative.


The TSX Venture Exchange Inc. has in no way passed upon the merits of the
proposed transaction and has neither approved nor disapproved the contents of
this press release.


The information in this news release includes certain information and statements
about management's view of future events, expectations, plans and prospects that
constitute forward looking statements. These statements are based upon
assumptions that are subject to significant risks and uncertainties. Because of
these risks and uncertainties and as a result of a variety of factors, the
actual results, expectations, achievements or performance may differ materially
from those anticipated and indicated by these forward looking statements.
Although MCM and Siguiri believe that the expectations reflected in forward
looking statements are reasonable, it can give no assurances that the
expectations of any forward looking statements will prove to be correct. Except
as required by law, MCM and Siguiri disclaim any intention and assumes no
obligation to update or revise any forward looking statements to reflect actual
results, whether as a result of new information, future events, changes in
assumptions, changes in factors affecting such forward looking statements or
otherwise.


This press release does not constitute and the subject matter hereof is not, an
offer for sale or a solicitation of an offer to buy, in the United States or to
any "U.S Person" (as such term is defined in Regulation S under the U.S.
Securities Act of 1933, as amended (the "1933 Act")) of any equity or other
securities of RedWater. The securities of RedWater have not been registered
under the 1933 Act and may not be offered or sold in the United States (or to a
U.S. Person) absent registration under the 1933 Act or an applicable exemption
from the registration requirements of the 1933 Act.