VMS Ventures Updates Progress at the Reed Copper Project Near Snow Lake, Manitoba: Construction on Schedule

VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS Ventures" or the "Company") is pleased
to report on developments at the Reed copper project near Snow Lake, Manitoba.
Reed is a high grade copper deposit scheduled to begin production in the fourth
quarter of 2013. VMS Ventures owns 30% and is carried to production. HudBay
Minerals (TSX:HBM)(NYSE:HBM) ("Hudbay") owns 70% and is the Operator.

VMS Ventures COO Neil Richardson, states: "Important progress was made over the
last quarter of 2012 with the completion of necessary infrastructure for
underground development. We are particularly pleased that the Reed project has
completed much of the difficult near surface phase of underground work,
including the completion of approximately 72 metres of lateral development in
2012."

The Reed project is within the planned budget and schedule towards production in
the fourth quarter of 2013. As of the end of 2012, the team worked 294 days
without a lost time accident, including the critical activity on the project to
ensure the decline is well supported near its entrance by installing bolts,
screen, arches, spilings and shotcrete.

Hudbay and VMS Ventures have invested $19.7 million on the project to November
30, 2012 and have entered into an additional $17.8 million in commitments for
the project. Capital expenditures at Reed are expected to total approximately
$44 million in 2013.

The Environmental Act license application for Reed has been submitted to the
provincial government. Mining at the Reed Copper Project is expected to begin by
the fourth quarter of 2013, and is anticipated to ramp up to full production of
approximately 1,300 tonnes per day by the first quarter of 2014.

2012 Q4 Project Highlights:

The ramp had advanced 72 metres and the shop and warehouse was 75% complete with
the steel siding in progress. The mine rescue trailer was set-up and training is
continuing. The winterization is on-going and site preparation is now complete
for the development of the escape and ventilation raises. The ramp is expected
to progress at a rate of 4 metres of advance per day for the remainder of the
project.

We invite you to view the latest pictures of the development at the Reed Copper
Deposit on our website at:
http://vmsventures.com/Projects/Manitoba-Properties/VMSHudBayJointVentures/VMS-Ventures---HudBay-Joint-Venture-Project/default.aspx.

About VMS Ventures Inc.:

VMS Ventures Inc. is focused primarily on acquiring, exploring and developing
copper-zinc-gold-silver massive sulphide deposits in the Flin Flon-Snow Lake VMS
Belt of Manitoba. The Company's VMS project property portfolio consists of the
Reed copper project, which is subject to a 70-30 JV with HudBay Minerals and is
scheduled for production in Q3- 2013, Copper Project, McClarty Lake Project,
Sails Lake Project, Puella Bay Project and Morton Lake Project. Outside of the
Snow Lake camp, the Company holds massive sulphide prospective properties near
the past producing Fox Lake and Ruttan copper-zinc mines, near the communities
of Lynn Lake and Leaf Rapids in northern Manitoba. These properties are located
in the mining friendly province of Manitoba, Canada. The Company also has
optioned three properties in the Sudbury mining camp. They are Terra Incognita,
Golden Pine and Black Creek.

VMS Ventures owns approximately 21M shares of North American Nickel Inc. (TSX
VENTURE:NAN). For more information on North American Nickel Inc., please visit
www.northamericannickel.com.

Forward Looking Statement

Some of the statements contained herein may be forward-looking statements which
involve known and unknown risks and uncertainties. Without limitation,
statements regarding potential mineralization and resources, exploration
results, and future plans and objectives of the Company are forward-looking
statements that involve various risks. The following are important factors that
could cause the Company's actual results to differ materially from those
expressed or implied by such forward-looking statements: changes in the world
wide price of mineral commodities, general market conditions, risks inherent in
mineral exploration, risks associated with development, construction and mining
operations, the uncertainty of future profitability and the uncertainty of
access to additional capital. There can be no assurance that forward-looking
statements will prove to be accurate as actual results and future events may
differ materially from those anticipated in such statements. VMS Ventures Inc.
undertakes no obligation to update such forward-looking statements if
circumstances or management's estimates or opinions should change. The reader is
cautioned not to place undue reliance on such forward-looking statements.

ON BEHALF OF THE BOARD OF DIRECTORS

John Roozendaal, B.Sc., President

VMS Ventures Inc.

FOR FURTHER INFORMATION PLEASE CONTACT:
VMS Ventures Inc.
Evan Sleeman
Director
(604) 986-2020 or Toll Free: 1-866-816-0118
www.vmsventures.com

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