99 CAPITAL CORPORATION CLOSES PRIVATE PLACEMENT

Trading Symbol:  WDG - (TSX.V)

VANCOUVER, Oct. 25 /CNW/ - 99 Capital Corporation (the "Company") is pleased to announce that it has closed a non-brokered private placement of CAD$9 million (the "Offering") announced on October 6, 2010.  The Offering consisted of CAD$1 million of flow-through common shares (the "Flow-Through Offering").  The Offering also consisted of CAD$8 million of units (the "Unit Offering") raised in connection with an agreement by the Company to acquire, subject to TSX Venture Exchange approval, a 66.5% interest (the "Transaction") in six historically past-producing gold mines located in the Giyani Greenstone belt of South Africa (the "Giyani Gold Project"). Giyani is in the Limpopo province, and the Giyani Gold Project properties include the Klein Letaba, Frankie, Horseshoe 1 & 2, Birthday, and Louis Moore and are located in an area which has historically contained high grade, near surface, multi-million ounce deposits.  The Offering is subject to the final acceptance of the TSX Venture Exchange.

No new insiders were created, nor any change of control occurred, as a result of the Offering, and no finder's fees or commissions were paid in connection with this Offering.

The Unit Offering was priced at CAD$0.60 per unit, each unit consisting of one common share and one-half of one common share purchase warrant. Each whole warrant is exercisable at a price of CAD$0.85 per share for a period of two years from the date of issuance.  The Company has the right to accelerate the warrant exercise if the Company's volume-weighted 20-day average share price trades at CAD$1.00 or higher.  US$6 million raised from the Unit Offering is being held in escrow until the closing of the Transaction, and will be used for the acquisition of the Giyani Gold Project, exploration at the Company's properties and for general working capital purposes. US$2 million will be released immediately for general working capital.  Securities issued in connection with the Unit Offering are subject to a hold period of four months and one day and cannot be sold until February 28, 2011.

Each flow-through share was priced at CAD$0.70. The proceeds from the Flow-Through Offering will be used for the continuing work program on the Company's existing Ontario and Saskatchewan properties.  Securities issued pursuant to the Flow-Through Offering are subject to a hold period of four months and one day and cannot be sold until February 28, 2011.

About the Giyani Gold Project: This strategic land package covers a key geologically prospective gold region of the world. Located in the northeast part of South Africa, the Giyani Greenstone Belt represents a historically under-explored region of the country and key industry development initiative for the Chamber of Mines of South Africa and the Geological Society of South Africa. The properties are all located within a 13 km long corridor of the highly prospective Giyani Greenstones that host considerable past production and exploration potential. 

All technical information contained in this release is of historical nature and has not or could not be verified by the Company.  Readers are cautioned to not rely on this information.

The Company's director, Mr. James A. Turner, a Qualified Person as defined by National Instrument 43-101, has read and approved the information contained herein.

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 news release.

On behalf of the Board of
99 Capital Corporation,

"Alexander Helmel"
Alexander Helmel,
President & CEO

This news release contains forward-looking statements regarding the future success of the business of the Company that is subject to risk and uncertainties.  Examples of such forward-looking statements including, but are not limited to, statements concerning the Company's acquisition of the interest in the Giyani Gold Project, expectations concerning the timing and success of exploration activities generally, government regulation of exploration and mining operations, indications and benefits of exploration, drilling test work and engineering assessments, environmental risks, tile disputes or claims, and the Company's intention to raise additional capital and financing.  These forward-looking statements involve known and unknown risk and uncertainties that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied in these forward-looking statements.  These risks include risks related to dependence on key personnel, competition, risks related to newly acquired businesses, uncertainty and dilution of additional financing and ability to service debt, as well as the risk factors described in the Company's Management Discussion and Analysis filed on SEDAR at www.sedar.com, and the risks to be described in any Management Information Circular. The forward-looking statements contained herein are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement.  Except as required by law, the Company undertakes no obligation to publicly update or revise any such forward-looking statements to reflect any change in its expectations or in events, conditions or circumstances on which any such forward-looking statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

For further information:

Alexander Helmel, President at 604-676-4133