Brilliant Mining Corp.
TSX VENTURE : BLT

Brilliant Mining Corp.

October 16, 2009 15:57 ET

Brilliant Mining Corp. Announces Closing of $1 Million Private Placement

EDMONTON, ALBERTA--(Marketwire - Oct. 16, 2009) - Brilliant Mining Corp. (TSX VENTURE:BLT) ("Brilliant") today announced that it has closed a non-brokered private placement of 6,666,666 units of Brilliant (each a "Unit") at a price of $0.15 per Unit for gross proceeds of $999,999.90. Each Unit consisted of one common share of Brilliant ("Common Share") and one non-transferable share purchase warrant ("Warrant") entitling the holder to acquire one additional Common Share at a price of $0.20 per share until October 15, 2014.

The Units were sold to qualified purchasers in reliance upon exemptions from the prospectus and registration requirements of applicable securities legislation. In connection with the sale of an aggregate of 2,000,000 Units, Brilliant paid Canaccord Capital Corporation and PI Financial Corp. aggregate finder's fees in the sum of $15,000 (equal to 5% of the proceeds from the sale of the 2,000,000 Units) and granted non-transferable share purchase warrants ("Finder's Warrants") to acquire an aggregate of 100,000 Common Shares (equal to 5% of the 2,000,000 Units) on the same terms as the Warrants. The Common Shares and Warrants comprising the Units, the Finder's Warrants and the Common Shares issuable on exercise of the Warrants and Finder's Warrants are subject to a restricted period expiring on February 16, 2010.

About Brilliant Mining Corp.

Brilliant Mining Corp. is a two-time TSX-Venture Top 50 award winning resource company in search of undervalued resource opportunities. Brilliant's internationally experienced technical team and Board of Directors aim to leverage their broad range of expertise to acquire and develop high quality, advanced stage mineral projects.

On behalf of the Board of Directors

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

Brilliant Mining Corp.

For further information about Brilliant Mining Corp. or this news release, please visit our website www.brilliantmining.com.

Brilliant Mining Corp. is a member of the Discovery Group of Companies, for more information on the group visit www.discoveryexp.com.

Neither the 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.

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