Brilliant Mining Corp.: Closing of Private Placement and Update on Proposed Acquisition of Ivory Resources Inc.

Brilliant Mining Corp. (TSX VENTURE:BLT) (the "Company" or "Brilliant") is
pleased to announce the closing of a private placement previously announced in a
news release dated December 1, 2010 (the "December 2010 News Release"), subject
to final TSX Venture Exchange ("TSX-V") approval. The Company is also pleased to
announce several updates regarding the proposed acquisition of Ivory Resources
Inc. also previously announced in the December 2010 News Release.


Closing of Private Placement

Brilliant has closed a private placement of units of Brilliant (the "Units") at
CDN$0.27 per Unit (the "Private Placement"), subject to final TSX-V approval.
Each Unit consists of one common share of Brilliant (a "Common Share") and one
Common Share purchase warrant of Brilliant (a "Warrant"). Each Warrant will
entitle the holder thereof to acquire one Common Share (a "Warrant Share") upon
the payment of CDN$0.45 per Warrant Share at any time until 24 months following
the date of issuance. Insiders of Brilliant have participated in the Private
Placement.


The Private Placement was originally for up to 70,370,370 Units for gross
proceeds of up to CDN$19,000,000. The gross proceeds were intended to be used
principally to fund an airborne geophysical survey (the "Aerial Survey") being
conducted by Ivory Resources Inc. ("Ivory") in the Republic of Equatorial
Guinea.


Certain investors originally planning to participate in the Private Placement
have advanced funds directly to Ivory by way of loans instead. The loans will be
converted into shares of Ivory and subsequently exchanged for Units of
Brilliant. Such investors did not invest in Brilliant by way of the Private
Placement. Irrespective of whether investors participated by way of the Private
Placement or by way of loan, there will be Units issued in exchange for
$23,000,000 invested by investors as contemplated by the original Memorandum of
Understanding as described in the December 2010 News Release.


Update on Acquisition of Ivory Resources Inc.

The TSX-V has conditionally approved Brilliant's proposed acquisition of Ivory.
The Company is working on various acquisition agreements and should be in a
position to close, subject to final TSX-V approval, in the next few weeks.


Ivory, through a wholly-owned subsidiary, has acquired an agreement with the
government of the Republic of Equatorial Guinea (the "Government") whereby Ivory
will fund and conduct the Aerial Survey on behalf of the Government. As
compensation for financing the costs of the Aerial Survey, Ivory will have
certain preferential rights to choose areas within the survey area (with the
exclusion of any reserved areas of the State) to request mining and/or oil
concessions for a period beginning from the initiation of the Aerial Survey and
ending two months following conclusion of the data acquisition operations.


Once the Aerial Survey has been concluded and the data interpreted, such results
will be delivered to the Government at which time Ivory will be in a position to
exercise its preferential rights.


Fugro Airborne Survey Corp. ("Fugro") has been contracted by Ivory to complete
the Aerial Survey over the Rio Muni area of Equatorial Guinea defined
geographically by the international borders with Gabon, Cameroon and the
Atlantic Ocean. The Aerial Survey will consist of acquisition and analysis of
magnetic, MEGATEM, and radiometric data along approximately 68,832 line
kilometers at a line spacing of 400m. The survey will be conducted utilizing a
specially modified Dash 7 aircraft at a nominal height of 120m above ground. It
is estimated that the Aerial Survey will take 165 clear flying days to complete.


Fugro has commenced the Aerial Survey. The aircraft and crew has been mobilized
to Equatorial Guinea and is stationed in the city of Bata. To date 11,043 line
kilometers or approximately 16% of the survey has been completed.


About Brilliant Mining Corp.

Brilliant Mining Corp. is a two-time TSX-Venture Top 50 award winning resource
Company in search of undervalued resource opportunities. Brilliant's
internationally experienced technical team and Board of Directors aim to
leverage their broad range of expertise to acquire and develop high quality,
advanced stage mineral projects.


On behalf of the Board of Directors

John Williamson, P. Geol., CEO, President & Director

Brilliant Mining Corp.

For further information about Brilliant Mining Corp. or this news release,
please visit our website www.brilliantmining.com.


Brilliant Mining Corp. is a member of the Discovery Group of Companies, for more
information on the group visit www.discoveryexp.com.


Caution concerning forward-looking information

This press release contains "forward-looking information" and "forward-looking
statements" within the meaning of applicable securities laws. This information
and statements address future activities, events, plans, developments and
projections. All statements, other than statements of historical fact,
constitute forward-looking statements or forward-looking information. Such
forward-looking information and statements are frequently identified by words
such as "may", "will", "should", "anticipate", "plan", "expect", "believe",
"estimate", "intend" and similar terminology, and reflect assumptions,
estimates, opinions and analysis made by management of Brilliant in light of its
experience, current conditions, expectations of future developments and other
factors which it believes to be reasonable and relevant. Forward-looking
information and statements involve known and unknown risks and uncertainties
that may cause Brilliant's actual results, performance and achievements to
differ materially from those expressed or implied by the forward-looking
information and statements and accordingly, undue reliance should not be placed
thereon.


Risks and uncertainties that may cause actual results to vary include but are
not limited to the availability of financing; fluctuations in commodity prices;
changes to and compliance with applicable laws and regulations, including
environmental laws and obtaining requisite permits; political, economic and
other risks; fluctuations in foreign exchange rates; as well as other risks and
uncertainties which are more fully described in our annual and quarterly
Management's Discussion and Analysis and in other filings made by us with
Canadian securities regulatory authorities and available at www.sedar.com.
Brilliant disclaims any obligation to update or revise any forward-looking
information or statements except as may be required by law.