Morumbi Resources Announces Approval of Change of Business

Morumbi Resources Inc. (TSX VENTURE:MOC) ("Morumbi" or the "Company") is pleased
to announce that the TSX Venture Exchange has accepted the Company's change of
business from an oil and gas issuer to a mining issuer.


Morumbi Resources Inc. holds Exploration Licenses 1649 ("EL1649") and 1767 (the
"Popondetta Property") in the southeast Owen Stanley Range in Oro State, Papua
New Guinea.


The Company announced the filing of a National Instrument 43-101 ("NI 43-101")
compliant technical report in respect of the Popondetta Property on October 22,
2012. The PNG Geological Survey has mapped the major geological trend from
northwest to southeast through the Popondetta Property. The sparsely explored
property lies between tenements where recently discovered porphyry copper-gold
systems are being drilled to the northwest and massive nickel sulphides and some
porphyry style geology are being investigated to the southeast as part of a
joint venture between VALE of Brazil and Australia's Goldminex, in a 5 year, $25
Million advanced drilling program.


Little detailed exploration has been done on most of the Popondetta Property,
and the little that has been done has resulted in finding high copper and gold
values in rock chip samples. Exploration has been successful on adjacent
properties in at least finding geological processes creating potential economic
mineralization. Intrusives that directly relate to epithermal/porphyry style
processes have not been found on the Popondetta Property but a few narrow felsic
dykes and quartz veins with sulphides have been seen which can be taken as an
indication of intrusive at depth. Sulphides (dominantly pyrite) occur in most
shear zones.


The NI 43-101 proposed a two-phase program. Phase I budget of US$261,800 to
conduct an initial exploration program including compilation of previous work,
stream sediment sampling, pan concentrate sampling, litho-geochemical sampling
and geological mapping. The objective of the program is to identify potential
targets to be followed up with a phase II program which would include soil
sampling, ground geophysical surveys (magnetic and IP) and an initial diamond
drilling program (1500 meters). Proposed budget for Phase II is US$750,000.
Phase II would be contingent upon favorable results from Phase I. Phase I would
be completed over a three months field program.


About Morumbi

Morumbi Resources Inc. is a public company with early stage mineral exploration
licences in PNG. Morumbi is also currently evaluating resource opportunities in
Bougainville, PNG by forming strategic relationships with local landowner
companies with the view to securing mineral exploration licences on their
traditional lands, if and when the moratorium is lifted and licences are
granted. It also has a legacy light oil property in northwest Alberta. The
Company trades on the TSX Venture Exchange under the symbol "MOC". For more
information about Morumbi and the Company's plans visit our website at
www.morumbi.ca.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Morumbi Resources Inc.
Lindsay Semple
Chief Executive Officer
416-364-2266
[e-mail]
www.morumbi.ca