MBMI Arranges $5,000,000 Private Placement

(PressMethod) - MBMI RESOURCES INC. ("MBMI" or the "Company") (TSX-V:MBR - News) reports that it has arranged a non-brokered private placement financing of 25,000,000 Units at $0.20 per Unit for gross proceeds of $5,000,000. Each Unit consists of one Common Share and one full Common Share Purchase Warrant. Each full Warrant entitles the holder to purchase one Common Share at a price of $0.30 and has an expiry period of three years. All common shares issued will be subject to a four month hold period, and are subject to TSX Venture Exchange approval.

The net proceeds shall be used for exploration and development of MBMI's Philippine nickel mineral properties, and for general corporate purposes.

MBMI Resources Inc. is a Canadian-based mining company focused on the exploration and development of nickel mineral properties in the Philippines. MBMI and its Philippine partners have an interest in nine nickel laterite projects in the Philippines, covering an area greater than 22,000 hectares. MBMI's objective is to become a major supplier of high-grade nickel products to primary industrial consumers in Asia.

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