E.G. Capital Inc. Announces Cancellation of Proposed Reactivation Transaction

E.G. Capital Inc. ("EG" or the "Corporation") (TSX VENTURE:EGC.H) today
announced that it is not proceeding with its proposed Reactivation Transaction
with Thanda Resources Inc. ("Thanda") as previously announced on June 21, 2010.


The Corporation entered into a letter agreement with Thanda dated June 11, 2010
(the "Letter Agreement") to complete an amalgamation to form a new company (the
"Transaction"). The Transaction, when completed, would have constituted the
reactivation transaction of the Corporation, pursuant to the policies of TSX
Venture Exchange Inc. (the "TSX Venture").


The Corporation completed initial filings with TSX Venture in June 2010.
Unfortunately, due to difficult financial markets, the parties have determined
that the proposed concurrent equity financing to be completed as a condition to
completion of the Transaction cannot be completed at this time. As a result, the
Corporation has determined that it is in the best interests of the Corporation
to terminate the Letter Agreement.


The Corporation intends to continue to identify and evaluate companies,
businesses or assets with a view to completing a reactivation transaction.


Trading of the common shares of the Corporation will resume after NEX and TSX
Venture has accepted the withdrawal of the proposed reactivation transaction.


The securities of EG being offered have not been, nor will be, registered under
the United States Securities Act of 1933, as amended, and may not be offered or
sold within the United States or to, or for the account or benefit of, U.S.
persons absent U.S. registration or an applicable exemption from U.S.
registration requirements. This release does not constitute an offer for sale of
securities in the United States.