MIRA Announces the Independent Resource Assessment for the Contingent STOIIP With a 430 Percent Increase

Mira Resources Corp. (TSX VENTURE:MRP) ("Mira") and its fully owned subsidiary
Equinox TSB Development (Nigeria) Limited are very pleased to announce the RPS
Energy Independent Resource Assessment for the Contingent STOIIP Resources in
the tested Reservoirs with a greater than 430% growth in the Certified
Contingent STOIIP Resources from the previous 2010 NSAI Certified Contingent
STOIIP Resources. 


The U 7 Certified STOIIP Resource in the U 7 Best Estimate P50 or 2C increased
from 14.89 Million Barrels of STOIIP (NSAI) to 65 Million Barrels of STOIIP
Resource while the U 9 Reservoir which was not tested in the 2011 Reentry was
assessed by NSAI in 2010 at 21.6 Million Barrels of STOIIP Resources has been
assessed at 18.9 Million Barrels of STOIIP Resources with another 26.5 million
Barrels of Prospective STOIIP by the RPS Group. The conversion of the STOIIP to
Recoverable Resources is currently being worked by Schlumberger Nigeria Nodal
Analyses Group and will be announced when they are completed with the revised
Economic Model and the updated NI 51-101.


The consolidated STOIIP for Tom Shot Bank Field from RPS is as follows:



P 90    59.6    MMstb   
P 50    100.0   MMstb   
P 10    168.0   MMstb   



Prospective Oil in the U 9 Reservoir with a GPOS (Geologic Probability of
Success) of 76%




P 90    8.62    MMstb   
P 50    26.5    MMstb   
P 10    58.3    MMstb   



Johnathan More, CEO of Mira states, "We are pleased at the significant increase
in the STOIIP assessment in the one reservoir we tested in 2011 and anticipate
further positive increases in the other reservoirs when we drill TSB 3. If we
had tested the laminated nature of the reservoirs in the U 9 it is our
interpretation we would have seen a similar increase in the resources in the U 9
as RPS has documented in the U 7. The U 8, U5 and the attic oil in the U 3 will
be fully evaluated in TSB 3 as well as the conversion of the existing contingent
resources to reserves and determination of the extent of the laminated
reservoirs. We firmly believe we will see significant increases in resources and
reserves when TSB 3 is drilled. Furthermore, all permitting necessary to drill
TSB 3 is underway and we anticipate having all necessary permits completed by
the end of the 3rd quarter of 2012."


Our recently appointed exclusive financial advisor, First Energy Capital will be
opening their data room this month for the possible sale of the company. Mira's
Board of Directors, in response to several expressions of interests, has
established a special committee with a mandate, in consultation with First
Energy, to solicit, review and consider strategic alternatives and to make
recommendations to the Board as to whether any proposed transactions are in the
best interests of the Corporation and its shareholders. 


TSB Field is located within Oil Prospecting License 276 ("OPL 276") which is
adjacent to the Abana Field in Oil Mining License 114 and due north of Addax
Petroleum Corp. in Oil Mining License 123 ("OML 123"). Addax Petroleum Corp. is
producing almost 50,000 BOPD from multiple fields within OML 123. TSB Field was
discovered by Shell Petroleum in 1980 and encountered 425 Gross Feet of
hydrocarbon pay, 57 net feet of gas and 83 net feet of oil proven pay with
another possible 111 net feet of oil and 29 net feet of gas pay in reservoirs
which Shell Petroleum interpreted as probable laminated reservoirs. 


ON BEHALF OF THE BOARD

Johnathan A. More, CEO and Director

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform Act of 1995
and Canadian securities laws. There can be no assurance that such statements
will prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements. Important factors that
could cause actual events and results to differ materially from Mira's
expectations include risks related to the exploration stage of Mira's project;
market fluctuations in prices for securities of exploration stage companies; and
uncertainties about the availability of additional financing.


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