Nitinat Provides Update on Private Placement

Nitinat Minerals Corporation (TSX VENTURE:NZZ) (the "Corporation") announces
that further to its press releases of September 21 and November 23, 2011, the
Company has decided to defer the previously announced private placement at the
present time. The Corporation has not issued any securities pursuant to the
private placement.


Due to recent market volatility, the Company believes raising capital at the
current market price would be unnecessarily dilutive to all shareholders.


This update contains "forward looking statements" within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and applicable
Canadian securities legislation. Generally, these forward looking statements can
be identified by the use of forward looking terminology such as "plans",
"anticipated", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or state
that certain actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved". Nitinat is subject to significant
risks and uncertainties which may cause the actual results, performance or
achievements to be materially different from any future results, performance, or
achievements expressed or implied by the forward looking statements contained in
this release. Nitinat cannot assure investors that actual results will be
consistent with these forward looking statements and Nitinat assumes no
obligation to update or revise the forward looking statements contained in this
release to reflect actual events or new circumstances.