Karmin Announces the Granting of Stock Options

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Karmin Exploration Inc. ("Karmin") (TSX VENTURE:KAR)(LMA:KAR) announced today
that the board of directors of Karmin (the "Board") has unanimously resolved to
grant stock options (the "Options") to the directors of Karmin as well as
certain employees of Karmin (collectively, the "Option Participants"). 


In order to provide an additional financial incentive for the continued
improvement in the performance of Karmin and encouragement to remain in the
employ of Karmin, Karmin will grant a total of 765,000 Options to the Option
Participants effective today. The Options permit the holders to purchase Common
Shares at an exercise price of $0.20 per Common Share for a period of 5 years
from today's date. The closing price of the Common Shares on the TSX Venture
Exchange ("TSX-V") on February 10, 2014 was $0.20. The Options vest immediately.


The granting of the Options is subject to the acceptance of the TSX-V. 

3,800,000 Common Shares have been reserved for issuance under the terms of
Karmin's stock option plan, Upon the granting of the Options described above,
Karmin will have 3,800,000 Options outstanding, which represents approximately
6.3% of the 60,051,083 Common Shares currently outstanding.


The granting of the Options is considered to be a "related party transaction"
under National Instrument 61-101- Take-Over Bids and Special Transactions ("NI
61-101"), however as the fair market value of the Option grant represents less
than 25% of the market capitalization of Karmin, the Option grant is exempt from
the formal valuation and minority shareholder approval requirements as set out
in NI 61-101. 


About Karmin

The common shares of Karmin are listed on the TSX-V and the Lima Stock Exchange
and trade in both markets under the symbol "KAR". The principal business of
Karmin is to acquire, explore and develop resource properties. 


Karmin owns 30% of the Aripuana Zinc Project, one of the ten largest undeveloped
zinc projects in the world. The Aripuana Zinc Project covers an 820 square
kilometre mineralized massive-sulphide district that includes five areas of
mineralization (Ambrex, Arex, Babacu, Massaranduba and Mocoto) over a
25-kilometre strike length. Votorantim owns 70% of the Aripuana zinc project,
but is responsible for 100% of the project costs until the completion of a
bankable feasibility study.


Karmin owns 100% of the Aripuana Gold Project, which encompasses the gold and
silver mineralization associated with near-surface oxidized portions of numerous
massive-sulphide deposits in the 820-square-kilometre Aripuana Zinc Project in
north western Brazil. 


Karmin owns 100% of the 25-square-kilometre Cushuro Gold Project located in the
world-class Alto Chicama gold-mining district of northern Peru. 


The TSX-V has not reviewed and does not accept responsibility for the adequacy
or accuracy of this news release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Karmin Exploration Inc.
David Brace
Chief Executive Officer
[e-mail]
[phone]


Karmin Exploration Inc.
John Iannozzi
Chief Financial Officer
[e-mail]
[phone]