http://www.fscwire.com/newsrelease/morro-bay-updates-status-pe115oles-joint-venture

Calgary, Alberta (FSCwire) – Morro Bay Resources Ltd. (“Morro Bay” or the “Company”) (TSX-V: MRB; OTCQX: MRRBF) hereby advises,  as announced on ‎May 30, 2016, the defaults by Morro Bay alleged by Riverside Resources Inc. (“Riverside”) have not been remedied by Morro Bay. As a result, subject to the requirements of the May 25, 2016 Option Amending Agreement between Riverside and Morro Bay (the “Amending Agreement”) being met, Morro Bay’s interest in the Peñoles exploration project will terminate and will be returned to Riverside. The Amending Agreement has been filed on SEDAR by Morro Bay.