Hornby Bay Announces Closing of Rights Offering

Hornby Bay Mineral Exploration Ltd. (the "Company") (TSX VENTURE:HBE) announces
that it has completed its previously announced rights offering (the "Rights
Offering"). At closing, the Company issued an aggregate of 8,346,820 flow
through common shares (the "Flow Through Shares") for gross proceeds of
$1,335,491. The Flow Through Shares were issued to persons who exercised rights
issued under the Rights Offering, as described in the rights offering circular
of the Company dated July 26, 2010. Solicitation fees in the aggregate amount of
$82,727.98 were paid to registered dealers whose name appeared on a rights
certificate representing rights surrendered for exercise.


Pursuant to the terms of a standby commitment with PI Financial Corp. ("PI") and
Jones, Gable & Company Limited ("Jones Gable"), the Company issued an aggregate
of 710,500 broker warrants (the "Broker Warrants") to PI and Jones. Each Broker
Warrant entitles the holder thereof to acquire a common shares of the Company at
a price of $0.16 per share for a period of two years. 


Proceeds of the Offering will be used to fund an exploration program on the
Company's 40 mineral leases and 16 mining claims located in Coppermine river,
Nunavut and for general working capital needs.


This news release may contain forward-looking statements including but not
limited to comments regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential mineral
recovery processes, etc. Forward-looking statements address future events and
conditions and therefore, involve inherent risks and uncertainties. Actual
results may differ materially from those currently anticipated in such
statements.


Shares Outstanding: 56,785,150