MBMI Closes Private Placement

MBMI RESOURCES INC. ("MBMI" or the "Company") (TSX VENTURE:MBR) reports that
further to its January 29, 2010 news release, it has closed the first two
tranches of its non-brokered Private Placement financing.


The Company has received gross proceeds of $589,000 in consideration of the
issuance of 2,945,000 Units at a price of $0.20 per Unit. Each Unit consists of
one Common Share and one full Common Share Purchase Warrant. Each full Warrant
entitles the holder to purchase one Common Share at a price of $0.30 and has an
expiry period of three years. The Common Shares are subject to four month hold
periods expiring in June and July, 2010.


The net proceeds of this financing shall be used for the exploration and
development of MBMI's Philippine nickel mineral properties and for general
corporate purposes. Total finders' fees of $24,780 have been paid in connection
with this financing.


MBMI Resources Inc. is a Canadian-based mining company focused on the
exploration and development of nickel mineral properties in the Philippines.
MBMI and its Philippine partners have an interest in nine nickel laterite
projects in the Philippines, covering an area greater than 22,000 hectares.
MBMI's objective is to become a major supplier of high-grade nickel products to
primary industrial consumers in Asia. 


ON BEHALF OF THE BOARD OF DIRECTORS

David G. Tafel, V.P. Corporate Development and Director

For further information relating to the Company or this release, please refer to
the Company's website at www.mbmiresources.com.


This news release may contain forward-looking information including but not
limited to comments regarding the timing and content of upcoming financings,
work programs, geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward-looking information includes disclosure
regarding possible future events, or conditions or results of operations that is
based on assumptions about future economic conditions and courses of action, and
therefore, involves inherent risks and uncertainties. Although management has a
reasonable basis for the conclusions drawn, actual results may differ materially
from those currently anticipated in such statements.