Phase Change Memory Advances on Work by Industry Heavyweights

Deer Horn Capital (CSE:DHC) (the “Company” or “Deer Horn”), reports that ongoing R & D by technological heavyweights such as IBM, Intel, Samsung and Panasonic continues to move phase-change memory towards mainstream use. Phase change memory, or PCM, is expected to revolutionize the speed, capacity and economics of data storage.

PCM, under development since the 1970s, is a form of computer random-access memory, or RAM, that stores data by altering the state of the matter from which the device is fabricated. Most PCM technology currently employs tellurium (typically mixed with other metals such as antimony, germanium or iron) because of the material’s stability and unique properties. According to its proponents, PCM technology has the potential to provide inexpensive, high-speed, high-density, high-volume data storage on an unprecedented scale.

PCM is also much more durable than current RAM technology, with the ability to withstand almost unlimited rewrites. PCM is sometimes called “perfect RAM” or PRAM, because data can be overwritten without having to erase it first.

According to technology magazine The Next Platform, new memory technologies such as PCM are going to “…radically change the architecture of machines and the software that runs on them.” In an article about technology under development by IBM, which uses a mix of antimony, germanium, and tellurium, the magazine stated that “…up until now, PCM was able to store one bit per memory cell, but a team of researchers at IBM’s lab in Zurich, Switzerland have demonstrated they can store two bits per cell and a path to three bits per cell.”

“Reaching three bits per cell is a significant milestone,” said Haris Pozidis, manager of non-volatile memory systems at IBM Research, “because at this density the cost of PCM will be significantly less than DRAM and closer to flash.”

In addition to IBM’s work, Intel, Samsung, Panasonic and other industry leaders are investing heavily in bringing their own versions of PCM to market as quickly as possible.

“One of the pillars of our vision at Deer Horn is to supply critical metals for technology,” said Deer Horn president and CEO Tyrone Docherty. “As more technological uses emerge for tellurium, stable, domestic supplies of the metal become more important. We are advancing our Deer Horn gold-silver-tellurium property in British Columbia with this dynamic in mind.”

The Deer Horn Property may be unique in North America for hosting an NI 43-101 resource for gold-silver-tellurium. Deer Horn recently reported positive results from an independent Preliminary Economic Assessment (“PEA”) at the property, where the Company is planning to conduct further drilling to both expand and upgrade the current resource. First Solar Inc., a world leader in the engineering and development of solar energy, has recognized1 Deer Horn as one of the world’s top tellurium properties while the United States Geological Survey2 identifies Deer Horn as a key epithermal tellurium resource for North America.*

For more information, please visit www.deerhorncapital.ca, or download the Deer Horn Fact Sheet.

1First Solar Inc. presentation to International Minor Metals Conference, Cologne, Germany. April 24, 2012

2USGS Critical Mineral Resources of the United States – Tellurium, pp 10-11

On behalf of the board of directors of

Deer Horn Capital Inc.

“Tyrone Docherty”

Tyrone Docherty

President and CEO

For further information please contact:

Tyrone Docherty

604.789.5653

tyrone@deerhorncapital.ca

Investor Relations, Craig Doctor

(604) 278-4656

craig@docsconsultingltd.com

Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.

Forward-looking information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements.  These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control.  Readers should not place undue reliance on forward-looking statements.  Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated event.

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