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Re:   News - Thursday, June 23, 2011
      Reservoir Reports Exploration Progress with Freeport-McMoRan
      Exploration Corporation on the Timok Project in Serbia
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Vancouver, British Columbia (TSX Venture: REO) - Reservoir Capital
Corp. ("Reservoir" or the "Company") is pleased to provide a progress
report on the work being carried out with Freeport-McMoRan Exploration
Corporation ("Freeport") on the Company's Timok Project in east Serbia.

Reservoir and Freeport geologists and consultants have completed
further detailed mapping and surface sampling along with an extensive
program of induced polarization, magnetic and CSAMT (controlled-source
audio-magneto-telluric) geophysical surveys, targeting copper
mineralization. In addition to this on-going surface work, Freeport has
commenced drilling to test some of the targets generated from the
surveys, with the initial program of 1,775 metres already well advanced
on the OK-Target (Ogasu Kucajna) within the southern
Brestovac-Metovnica Permit.

"This is an extensive and highly prospective property package, where
only limited work was conducted historically for deeper copper
targets", commented Miles Thompson, Chairman of the Company. "We are
very fortunate to be working with Freeport, which has the technical and
financial resources to explore and develop such projects."

The 18,279-hectare Timok Project comprises two exploration permits,
Brestovac-Metovnica and Jasikovo-Durlan Potok that lie adjacent to the
Bor-Majdanpek Mining Licenses and which cover northern and southern
extensions of the host structures and geology of the Bor copper
deposits. In March 2010, the Company entered into an agreement whereby
Freeport may earn up to a 75% interest in the Timok Project (see
Company NR of June 21, 2010 for details). Freeport may earn an initial
55% interest in the project by investing US$3 million in exploration by
March 2014.

The Bor-Majdanpek district is a world class copper-gold mining district
with reported historical production of approximately 6 million tonnes
of copper and 300 tonnes of gold (BRGM publication BRGM/RC-51448-FR).
The current combined resources and reserves at the RTB Bor mining
complex are stated on their website (www.rtbbor.com) to be 2.5 billion
tonnes in a number of different deposits, with total copper and gold
metal content of 10.5 million tonnes and 11.7 million ounces
respectively. The RTB Bor resources and reserves were calculated
according to the Serbian system for reporting Resources and Reserves,
which are not compliant with National Instrument 43-101 guidelines and
should not be relied on, but the Company considers that they are
relevant to the assessment of the Timok Project.

Quality Control:

The Company and Freeport follow industry standard quality assurance and
quality control procedures for all samples. The QA/QC program includes
the insertion of blanks, duplicates and certified standards into the
sample stream. Core is photographed on site and subsequently sawn in
half, with one half sent for analysis and the other half stored for
future reference and assay verification.

Dr. Duncan Large, Chartered Engineer (UK) and Eur. Geol., a Qualified
Person as defined by National Instrument 43-101 and consultant to the
Company, is responsible for the preparation of the technical
information in this release

About Reservoir

Reservoir is a renewable energy company that is engaged in the
development of a 58.4 MW hydroelectric project at Brodarevo in
southwest Serbia. Reservoir holds four geothermal exploration licenses
in Serbia and has applied for three hydroelectric licenses on the
Cehotina River in Bosnia (17.75 MW) and one to develop a 32 MW project
from an existing reservoir dam at Vrutci in Serbia. The Company also
holds 8 precious and base metal exploration properties in Serbia that,
subject to approvals, are to be spun-out into a separately listed
company via dividend (see March 25, 2011 Press Release "Reservoir
Capital Announces Spin-Out of Mineral Exploration Assets"). Reservoir's
common shares trade on the TSX Venture Exchange (symbol "REO") and on
the Frankfurt and Berlin Exchanges (symbol "ROC").

For further information on Reservoir Capital Corp., please consult the
Company's website www.reservoircapital.ca, or contact Chris MacIntyre,
VP Corporate Development, at +381 (11) 397 8453 or +1 416 703 0010.

-30-

Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or
accuracy of this release.

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Copyright (c) 2011 RESERVOIR CAPITAL CORP. (REO)  All rights reserved.
For more information visit our website at
http://www.reservoircapitalcorp.com/ or send
mailto:info@reservoircapitalcorp.com
Message sent on Thu Jun 23, 2011 at 6:46:33 AM Pacific Time
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