Pepcap Provides Management Team Update

VANCOUVER, British Columbia, Jan. 25, 2018 (GLOBE NEWSWIRE) -- Further to its press releases dated December 12, 2017 and January 4, 2018, Pepcap Resources Inc. (TSXV:WAV) ("Pepcap" or "the Company") is pleased to announce that Edward Rochette, a director of the Company, has agreed to act as Interim CEO, and that Claus Andrup, a former director, president and CEO of the Company, has agreed to act as Interim CFO and Interim Corporate Secretary.  The Company is also pleased to announce that on January 15, 2018, Mr. Andrup's resignation as a director of the Company was accepted and that David Anthony was appointed as a director of the Company. The Company confirms that its current directors and management team is as follows:

                Edward Rochette:              Director and Interim CEO

                Margaret Wee:                   Director

                David Anthony:                  Director

                Claus Andrup:                    Interim CFO and Interim Corporate Secretary

The Company is in the process of commencing a search for a permanent CEO, CFO and Corporate Secretary.

Edward Rochette states: "The Company is pleased that Claus Andrup has agreed to assist the Company during its management transition. The Company is committed to implementing a smooth and effective management transition and looks forward to finalizing its new management team. The Company is also pleased to welcome David Anthony to the team".

About Pepcap Resources Inc.

Pepcap, through Asia Mining and its 99.6% subsidiary Andika, hold mining properties in Sumatra, Indonesia. The properties are divided into two coal blocks located in the Napal Putih and Putri Hijau districts of the North Bengkulu Regency of Bengkulu Province, Indonesia. Andika holds a one hundred percent (100%) undivided interest in the properties. Andika holds three IUPs (mining licences), two being production licences on 1,957 hectares and an exploration licence on 7,236 hectares.

On behalf of the Board of Directors:

Edward C. Rochette

Chairman of the Board.

For further information:

Edward C. Rochette

Email: [email protected]

Phone: 1-719-360-7406

This news release includes certain statements that may be deemed "forward-looking statements" within the meaning of applicable Canadian securities legislation. Specifically, this news release includes, but is not limited to, forward-looking statements with respect to the hiring of a successor CEO, CFO and Corporate Secretary. Generally, forward-looking statements can be identified by the forward-looking terminology such as "plans", "expects", "anticipates", "believes" and similar expressions and statements related to matters that are not historical facts. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks associated with general economic conditions, loss of markets, inability to obtain regulatory approvals and other regulatory matters. Although the Company has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements will prove accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

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.

Not for distribution to U.S. Newswire Services or for dissemination in the United States of America.