MBMI Closes $1,314,000 Private Placement

MBMI RESOURCES INC. (TSX VENTURE:MBR) announced further to its April 12, 2010 news release, that the company has closed the non-brokered Private Placement financing and the Company has received gross proceeds of $1,314,000 in consideration of the issuance of 6,570,000 Units at a price of $0.20 per Unit.

The press release is quoted as saying:

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. The Common Shares are subject to four month hold periods expiring in August, 2010.

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