Mansfield Minerals Closes Cdn$5.175 Million Private Placement

Mansfield Minerals Inc. (TSX VENTURE:MDR) - 

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Mansfield Minerals Inc. (the "Company") is pleased to announce the completion of
its previously announced brokered private placement (the "Private Placement") of
units (each a "Unit") for gross proceeds of Cdn$5,175,000 with a syndicate of
agents led by Paradigm Capital Inc. and including Axemen Resource Capital Ltd.
and Haywood Securities Inc. (collectively the "Agents"). The Company issued an
aggregate of 3,450,000 Units at an issue price of Cdn$1.50 per Unit, including
the exercise in full of an Agents' option (the "Agents' Option"). Each Unit
consists of one common share (a "Share") of the Company and one-half of one
transferable common share purchase warrant (each whole warrant, a "Warrant").
Each Warrant entitles the holder thereof to purchase one additional common share
(a "Warrant Share") of the Company at an exercise price of Cdn$1.80 per Warrant
Share until May 18, 2012. 


In consideration for their services, the Agents received a cash commission equal
to 6% of the gross proceeds from the sale of the Units (including the gross
proceeds received from the sale of Units issued pursuant to the Agents' Option)
and compensation options (each a "Compensation Option") equal to 6% of the
number of Units sold pursuant to the Private Placement (including Units issued
upon exercise of the Agents' Option). Each Compensation Option is exercisable
until May 18, 2012 to acquire one common share of the Company at an exercise
price of Cdn$1.50 per share. 


All securities issued under the Private Placement are subject to a four month
hold period expiring September 19, 2010 under applicable Canadian securities
laws. 


The net proceeds from the Private Placement will be used for the completion of
the feasibility study on the Lindero Gold Project, for permitting and for
general working capital purposes.


This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States. The securities have not
been and will not be registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act") or any state securities laws and may not
be offered or sold within the United States or to U.S. Persons as defined under
applicable securities laws unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such registration is
available. 


ON BEHALF OF THE BOARD OF DIRECTORS,

Gordon P. Leask, P. Eng., President

Cautionary Note to US Investors: This news release may contain information about
adjacent properties on which we have no right to explore or mine. We advise U.S.
Investors that the SEC's mining guidelines strictly prohibit information of this
type in documents filed with the SEC. U.S. Investors are cautioned that mineral
deposits on adjacent properties are not indicative of mineral deposits on our
properties. 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.