GKR Greenock Resources

June 23, 2010 - Greenock Resources Inc. (TSX VENTURE:GKR) ("Greenock") through
its wholly owned subsidiary PTM Minerals ("PTM") has been continuing to advance
the development of the Kakanda copper cobalt project located in the Katanga
province of the Democratic Republic of Congo ("DRC"). Primary tasks undertaken
by PTM include finalizing the terms of joint venture agreement with Gecamines;
seeking potential development partners with African experience; commencing the
upgrading of the previous feasibility study; and developing project finance
structures and commitments. Discussions have been continuing with a number of
potential partners and investors throughout the world for their participation in
the financing and development of the Kakanda project. Mine and plant
developments and infrastructure such as roads, rail, power, water and
construction expertise has continued to advance as a growing number of projects
near Kakanda and throughout the entire DRC and Zambian Copper Belt trend are
being developed.


The Kakanda project is connected by a paved access road (7km south) to the Tenke
- Fungurume Project ("Tenke") that is being developed by Freeport McMoran Inc in
partnership with Lundin Mining Corporation and Gecamines. From public records,
the US $2 billion Tenke copper and cobalt mining and processing operation
commenced production in March 2009 and has produced over 220,000,000 pounds of
copper since startup. In April 2010, the Tenke project commenced submissions to
the government to seek a doubling of the current copper production rate from
115,000 to 230,000 metric tons per year. The Tenke project is assisting in
advancing the infrastructure, farmland and school facilities in the region. The
regional town of Fungurume has benefited from these advancements and is situated
between the Tenke and Kakanda projects.


On June 17, 2010 The World Bank announced that it had invested $1 billion in the
State portfolio of the DRC. This provided a clear indication of the World Bank's
confidence in doing business in the DRC. The funding is helping to reform and
stabilize its portfolio while improving the investment climate by adhering to
Organisation for the Harmonization of Business Law in Africa "OHADA". The laws
promulgated by OHADA are exclusively business-related. The OHADA treaty has
created a supranational court to ensure uniformity and consistent legal
interpretations across the member countries.


The European Union has reported that it has growing concerns about having access
to a number of raw minerals including: cobalt, germanium, beryllium, and others
like copper as China is becoming a major player acquiring and cornering most of
the available supply.


It is apparent that major western countries have confidence in the DRC's
government and its progression to a country that provides transparency and a
legal framework to enable companies to invest in natural resource development.


The DRC and Zambian Copper Belt trend is approximately 600 km long and holds one
of the largest accumulations of high grade copper and cobalt deposits in the
world. In the regional geological trend, it is estimated there are 15 operating
mines, 4 new mines under construction, 5 active feasibility studies, 5 major
copper SXEW / smelting plants and at least 16 deposits and / or closed mine
sites with mineralization. In addition there are numerous copper cobalt
exploration and development drilling programs throughout the region.


While volatile capital markets have slowed the pace of project and finance
commitments, there are still many options and potential partners available that
will be able to assist with the Kakanda project development. Copper Belt
regional projects have been moving towards production status with successes and
setbacks as a result of various technical, regulatory and/or market
developments. Overall, the last five years have demonstrated the robust positive
aspects of the region as the combined DRC and Zambian Copper Belt is developing
its significant production capabilities.


Greenock through its wholly owned subsidiary PTM Minerals and Gecamines signed a
Memorandum of Understanding December 18, 2008 based on their 1997 agreement that
is the basis to establish a joint venture company, Kakanda Mining Development
("KMD") to exploit the Kakanda tailings deposit. The Mining Ministry and
Minister of Justice on November 14, 2009 presented a list of mining companies
including PTM Minerals whose licenses had been reviewed and were confirmed as
foreign mining companies whose partnerships have been approved with various
State owned mining companies including Gecamines and the formation of KMD to
develop the Kakanda project. Final Joint Venture Agreements will be completed
coincident with final financial commitments. The terms reflect the original
agreement signed in 1997 but have been adjusted to be consistent with new laws
and regulations that govern mining licences and mineral development in the DRC.


About Greenock:

Greenock Resources Inc. (formerly Simberi Mining Corporation) is a Canadian
based international mineral development company that focuses on developing a
portfolio of natural resource properties.


Greenock's main development project is the Kakanda Copper Cobalt project in the
Democratic Republic of the Congo that is a joint venture with Gecamines, the
Congolese State mining company. This copper cobalt deposit in the Central
African Copper Belt is adjacent to the Tenke Fungurume project presently being
developed by Freeport McMoRan Gold & Copper Company.


The Kakanda tailings project has NI 43-101 measured and indicated resources of
18.5 million tonnes with an average grade of 1.25% copper and 0.15% cobalt.
Adjacent hard rock deposits have a historical resource of 18.6 million tonnes
with an average grade of 3.19% copper and 0.19% cobalt.


Greenock holds a 100% interest in the Needles gold silver property located in
the Arrowhead mining district Nye County, Nevada. The Barrick - Kinross Round
Mountain Gold Mine is located approximately 65 miles NW of the property.


Greenock's holdings in Australia are the nickel and platinium group metal
exploration property Merlot and a share position in the listed uranium
exploration company Raisama.


This press release includes certain "Forward-Looking Statements" within the
meaning of the US Private Securities Reform Act of 1995. Other than statements
of historical fact, all statements are "Forward-Looking Statements" that involve
such various known and unknown risks, uncertainties and other factors. There can
be no assurance that such statements will prove accurate. Results and future
events could differ materially from those anticipated in such statements.
Readers of this press release are cautioned not to place undue reliance on these
"Forward-Looking Statements". Michael Newbury, P.Eng, is the qualified person
who has reviewed this material on behalf of the Company. All dollar amounts are
noted in Canadian dollars unless otherwise stated in this release.

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