Brilliant Mining Corp.

Brilliant Mining Corp.

May 27, 2009 17:09 ET

Brilliant Obtains Court Approval for Arrangement

EDMONTON, ALBERTA--(Marketwire - May 27, 2009) - Brilliant Mining Corp. (TSX VENTURE:BMC) ("Brilliant") is pleased to announce that the Court of Queen's Bench of Alberta has granted a final order approving the Plan of Arrangement that was approved by shareholders of Brilliant at a special meeting on May 19, 2009.

The Arrangement will become effective upon the filing of Articles of Arrangement with the Registrar of Corporations for Alberta, which will occur after the close of trading on Friday, May 29, 2009 (the "Effective Date"). Pursuant to the Arrangement, the 12 million Panoramic Shares issued to Brilliant as partial consideration for the sale of Donegal will be distributed to Brilliant's shareholders of record ("Brilliant Shareholders") at the close of trading on the Effective Date pro rata to their holdings of Class A common shares of Brilliant ("Common Shares"). Brilliant Shareholders will receive beneficial ownership of the Panoramic Shares as legal title will remain in Brilliant's name until November 26, 2009 as the Panoramic Shares cannot be transferred, sold or otherwise disposed of until such date. Brilliant will then cause legal title to be transferred into the names of such Brilliant Shareholders.

The Arrangement also provides for consolidation of the Common Shares on the basis of one post-consolidation Common Share for two pre-consolidation Common Shares. The consolidated Common Shares are expected to trade on the TSX Venture Exchange at the market opening on June 1, 2009 under the new symbol "BLT".

Brilliant Shareholders were provided with a Letter of Transmittal and security return envelope with the materials they received in connection with the special meeting of Brilliant Shareholders held on April 19, 2009. Brilliant Shareholders who have not returned an executed Letter of Transmittal and the certificates representing their Common Shares to Olympia Trust Company, the Corporation's Registrar and Transfer Agent are encouraged to do so in order that they will receive certificates for the post-consolidated Common Shares.

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 at

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

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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