The Autonomous Bougainville Government Moves to Introduce Bougainville Mining Policy to Start Mining Exploration on Bougainvi...

Morumbi Resources Inc. (TSX VENTURE:MOC) ("Morumbi" or the "Company") is pleased
to announce that on June 7, 2012 before a packed House of Representatives (the
"House") in Buka, Bougainville, a motion was presented from the floor to
introduce a Mining Policy to start exploration on the Autonomous Island of
Bougainville. The motion was passed unanimously by the 39 member House. The
action was described in Papua New Guinea's ("PNG's") leading daily newspaper as
"a positive step since its (ABG) installment in 2005 for a young government." It
further stated that exploration is "a right that every Bougainvillean has been
waiting for and have (sic) fought the Bougainville crisis for."


Of significance, as part of the motion, a Draft Mining Policy was commended to
the House reaffirming that the ownership of mineral and oil & gas resources
reside with the Landowners, and that mineral exploration licenses on
Bougainville will be registered only to Landowner Companies and their qualified
partners. The motion called for the Government to instruct the Administration to
act in 2012 to review and finalize the draft, and present it to the House for
passage.


Two Additional Mining & Development Memoranda

Morumbi, through special purpose subsidiaries, entered into two additional
memoranda of understanding (each, an "MOU") with Landowner Companies over two
areas regarded as being highly prospective as indicated by early historical
geological surveys. The final boundaries are to be determined by a Morumbi
survey crew that will travel with the customary Landowners to identify the
streams, ravines and mountain ridges that typically define their customary land.
The crew will utilize mobile GPS recording technology which will be transferred
to detailed maps.


Eruupia Mining & Development Ltd., a Morumbi PNG subsidiary, has entered into an
MOU with Eruupia Resources Ltd., a Landowner Company. The mining and development
MOU establishes Morumbi as the mining and development partner for the Landowner
Company.


Although there has been limited geological work done in this isolated area known
as Kawatsia 18km North West of the historical Panguna Mine, geological
interpretation and the presence of widespread alluvials in the streams set this
as a property of significant geological merit for epithermal and porphyry
mineralization. The Eruupia MOU covers approximately 8,000 ha.


Karato Mining & Development Ltd., a Morumbi PNG subsidiary, has entered into an
MOU with Karato Resource Holdings Ltd., a Landowner Company. The mining and
development MOU establishes Morumbi as the mining and development partner for
the Landowner Company. Although the outlying boundaries are yet to be
determined, much of this historically regarded and highly prospective area lies
outside the former Panguna area of interest and lies 14 km west of the historic
Panguna Mine. Various independent assessments have identified a porphyry
occurrence 8 km in diameter over the Karato lands as well epithermal structures
that warrant further intensive geological investigation. The Karato MOU covers
approximately 14,000 ha.


Under the terms of each of the MOU's, Morumbi has paid Kina 10,000
(approximately CDN$5,000) on signing and has committed to pay a further Kina
3,000 (approximately CDN$1,500) per month to the Landowner companies to help
them carry out their corporate functions. In addition, Morumbi is committed to
carry out social development programs in line and in conjunction with the
programs it is delivering to its other four areas under agreement.


Grant of Options

Morumbi also announced that on July 10, 2012, in accordance with its stock
option plan, the board of directors of the Company approved the grant of an
aggregate of an aggregate of 200,000 incentive stock options to a director of
the Company. The options are exercisable on or before July 10, 2017 at an
exercise price of $0.47 per share. The granting of the options is subject to
regulatory acceptance of applicable filings.


About Morumbi

Morumbi Resources Inc. is a public company with a light oil property in
northwest Alberta as well as 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. 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.