Kirrin Postpones Private Placement

Kirrin Resources Inc. (TSX VENTURE:KYM) today announced that it is postponing
the non-brokered private placement announced on October 20, 2011.


Commenting on the announcement, Kirrin President and CEO, Derek Moran, said: "I
believe investors expected this decision. Market conditions are more than
unreceptive, one of Kirrin's advisors called them 'brutal'. We marketed the
private placement as the first part of financing 10,000 metres of drilling
across Kirrin's portfolio of two REE and two uranium projects in Canada.
Indications of participation did not give the directors confidence that we could
achieve that objective. Accordingly, we are postponing the private placement and
subscriptions will be returned." Mr. Moran added that Kirrin would review its
plans for 2012 and examine what options were available to maximise shareholder
value. He noted that Kirrin had already renegotiated much of its 2012 work
obligations under option agreements but acknowledged that a further liability
could arise as it was now unlikely that the Company would meet its entire
flow-through expenditure obligation during 2011. All continuing commitments and
expenditures would be reviewed in order to conserve cash resources.


Kirrin operates two REE properties, Grevet in Quebec and Bottom Brook in
Newfoundland, both of which have returned encouraging exploration results with
REE grades exceeding 15% TREO, and two uranium projects, in the eastern
Athabasca Basin in Saskatchewan and in southeastern Labrador. Kirrin is also
conducting due diligence on two new projects, a HREE property in Europe and a
further uranium property in the Athabasca Basin in Saskatchewan.


Additional information on Kirrin is available on Kirrin's web site at
www.kirrinresources.com and on SEDAR at www.sedar.com. 


Kirrin is a Canadian green energy company that explores for rare earth elements
and uranium. In addition to its exploration activities, Kirrin utilises its
management's broad industry and international experience in the identification
of suitable rare earth elements and uranium companies and green energy assets
for acquisition, merger, strategic partnership or joint venture. Its strategy is
well defined: enhancing shareholder value by combining technical expertise,
corporate development skills and professional management. Kirrin's shares trade
on the TSX Venture Exchange under the symbol KYM.


Cautionary Statement

This news release contains "forward-looking statements" within the meaning of
applicable securities laws relating to certain future results and activities of
Kirrin, including the contemplated timing and completion of an equity financing
and strategic review. Readers are cautioned not to place undue reliance on
forward-looking statements. Forward-looking statements are based on certain key
assumptions made by Kirrin, including assumptions related to Kirrin's ability to
complete the equity financing in a reasonable timeframe, the receipt of
regulatory approval and the availability of capital and other resources to
maintain operations and to carry out planned exploration programs. Such
forward-looking statements are subject to known and unknown risks, uncertainties
and other factors which may cause actual results and developments to differ
materially from those contemplated by these statements depending on, among other
things, failure to complete the financing, failure to obtain regulatory approval
and insufficient funds or other resources to maintain operations. The
forward-looking statements in this press release are made as of the date of this
release and Kirrin undertakes no obligation to update publicly or revise any
forward-looking statements whether as a result of new information or otherwise,
except as required by applicable securities laws. Kirrin undertakes no
obligation to comment on analyses, expectations or statements made by
third-parties in respect of Kirrin or its financial or operating results or (as
applicable) their securities.