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BLT

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Share Name Share Symbol Market Type
TSXV:BLT TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
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Brilliant Mining Corp.: Distribution of Panoramic Shares Pursuant to Plan of Arrangement

01/12/2009 9:55pm

Marketwired Canada


Brilliant Mining Corp. (TSX VENTURE:BLT) (the "Company" or "Brilliant") is
pleased to advise shareholders of record as at May 29, 2009 (the "Shareholders")
that the six month escrow period imposed on the ordinary shares in Panoramic
Resources Ltd. ("Panoramic") that were issued to Brilliant as part-consideration
for the acquisition by Panoramic of Brilliant's interest in the Lanfranchi
Nickel Mine in Western Australia, has elapsed effective November 26, 2009. As
such, these shares are now available for transfer in accordance with the Plan of
Arrangement involving Brilliant and its shareholders (the "Arrangement").


Subsequent to expiry of the escrow period, Computershare Investor Services Pty
Ltd. ("Computershare"), which maintains Panoramic's share register as agent of
Panoramic, has advised Brilliant that each eligible Shareholder and Clearing and
Depository Services Inc. ("CDS") or Depository Trust & Clearing Corporation
("DTC") participant must submit an original executed transfer form to
Computershare in order for the Panoramic shares to be transferred from Brilliant
and registered into their name. Shareholders that held their Common Shares in a
brokerage account as at the Effective Date are not required to execute such a
transfer form as this will be done by the broker on their behalf.


Transfer forms have been prepared by Brilliant with Shareholder registration
information as it appears on the Company's share register or as provided by CDS
or DTC; the number of shares of Panoramic distributed to the Shareholder under
the Arrangement; as well as other pertinent information required to effect the
transfer. These forms are being mailed out to each eligible Shareholder and CDS
or DTC participant with instructions for execution and submission for
processing.


Once Computershare has received and processed the original signed documents,
they shall send, by post, to the address appearing on the share transfer form, a
notice indicating the assigned Shareholder Reference Number and other pertinent
information.


Shareholders should note that Computershare has advised Brilliant that it will
be unable to provide Brilliant with any information concerning the holdings of
the transferees once the transfers have been completed; as such Brilliant will
be unable to provide Shareholder Reference Numbers or any other information
concerning shareholdings in Panoramic once the transfer has been complete.


Background

As previously disclosed in news releases and a letter from Olympia Trust Company
to shareholders dated October 8, 2009, under the Arrangement Brilliant
distributed an aggregate of 12,000,000 ordinary shares of Panoramic to holders
of Class "A" common shares of Brilliant ("Common Shares") on the basis of
0.1639042 Panoramic shares for each pre-consolidated Common Share held at the
close of trading on Friday, May 29, 2009 (the "Effective Date"). Shareholders
became beneficial owners of the Panoramic shares as at May 29, 2009, however
legal title to the Panoramic shares remained in the name of Brilliant due to the
escrow requirement, which has now expired.


Since the Effective Date, the Shareholders have realized a dividend from
Panoramic of AU$0.02 per share of Panoramic, which was distributed by the
Company's transfer agent on October 8, 2009 to the Shareholders. Information
about the plans and performance of Panoramic can be found at their website at
www.panoramicresources.com.


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.

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


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