Magnum Energy Inc.: Filing of Annual Statement of Reserves

   Magnum Energy Inc. (the "Company") (TSX VENTURE: MEN) is pleased to announce that it has filed its Form 51-101F1 - Statement of Reserves Data and Other Oil and Gas Information, Form 51-101F2 - Report on Reserves Data by Independent Qualified Reserves Evaluator or Auditor and Form 51-101F3 - Report of Management and Directors on Oil And Gas Disclosure, under National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities for the year ended August 31, 2010.

The filings may be found on the Company's website at www.magnumenergyinc.com and at www.sedar.com.

ON BEHALF OF THE COMPANY

Richard Nemeth, President

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts: Magnum Energy Inc. Richard Nemeth President & CEO 604.669.3155 [e-mail] www.magnumenergyinc.com