Brilliant Mining Corp.

Brilliant Mining Corp.

May 26, 2009 20:38 ET

Brilliant Closes Sale of Lanfranchi Nickel Mine and Seeks Court Approval for Arrangement

EDMONTON, ALBERTA--(Marketwire - May 26, 2009) - Brilliant Mining Corp. (TSX VENTURE:BMC) ("Brilliant") is pleased to announce the sale of the outstanding shares of Brilliant's wholly-owned subsidiary, Donegal Resources Pty Ltd ("Donegal") to Panoramic Resources Ltd. ("Panoramic") closed on May 26, 2009 pursuant to the terms of a Share Sale and Purchase Agreement dated February 27, 2009, which was approved by Brilliant's shareholders at a special meeting held on May 19, 2009.

As a result of the Share Sale, Brilliant has retained working capital of approximately CAD 5.3 million, and received 12 million shares of Panoramic in addition to 3 million options to acquire Panoramic shares at an exercise price of AUD 1.50 per share expiring December 31, 2012.

On May 27, 2009 Brilliant will apply to the Court of Queen's Bench of Alberta for a final order approving a plan of arrangement, which will consolidate the common shares of Brilliant on a 1 for 2 basis and enable Brilliant to distribute the 12 million shares of Panoramic on a pro rata basis to Brilliant's shareholders.

On behalf of the Board of Directors

John Williamson, P. Geol., CEO, President & Director

Brilliant Mining Corp.

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