Parallel Applies to Extend Term and Re-Price Warrants

Parallel Mining Corp. (the Company) (TSX VENTURE:PAL) announces that it wishes
to extend the term and reduce the exercise price of previously issued Warrants
to purchase a total of 5,020,000 common shares of the Company (the "Warrants").
The Warrants were originally issued on February 24, 2012, each Warrant entitling
the holder to purchase one (1) common share without par value until February 24,
2014 (the "Term") at an exercise price of $0.25 per share. 


Subject to receipt of acceptance from the TSX Venture Exchange, the Term of the
Warrants will be extended to expire February 24, 2016, and the Warrant exercise
price will be reduced from $0.25 to $0.205 per share, with the exception that
only half of 954,000 Warrants that are currently held by Insiders will be
re-priced, resulting in:




--  5,020,000 Warrants being extended to expire February 24, 2016; and

--  4,543,000 Warrants being repriced from $0.25 to $0.205 per share (with
    the balance 477,000 warrants remaining exercisable at $0.25 until
    February 24, 2016). 



The Company will disseminate a further News Release when TSX Venture Exchange
acceptance has been obtained. 


ON BEHALF OF THE BOARD

Allan Fabbro, President & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Parallel Mining Corp.
Richard Barnet
CFO
[phone]
[phone] (FAX)