Miraculins Inc.

Miraculins Inc.

August 17, 2010 10:35 ET

Miraculins Announces Accelerated Expiry of Warrants

Possible Proceeds to Company of Up to $1,020,000

WINNIPEG, MANITOBA--(Marketwire - Aug. 17, 2010) - Miraculins Inc. (TSX VENTURE:MOM) (the "Company"), a medical diagnostic company focused on developing and commercializing diagnostic tests for unmet clinical needs, announces that it will be issuing notice of accelerated expiry to the holders (the "Warrantholders") of share purchase warrants of the Company (the "Warrants"), which were issued pursuant to a private placement that closed on April 1, 2010.

Each Warrant entitles the Warrantholder to purchase one common share of the Company (a "Common Share") at a price of $0.10 for a period of 12 months from the date of issuance of the Warrants. However, pursuant to the terms of the Warrants, the Company has the option to accelerate the expiry of the Warrants in the event that the Common Shares have closed at or above $0.14 per Common Share for any 20 out of 30 consecutive days on which the TSX Venture Exchange is open for trading. As the Common Shares have closed at or above $0.14 per Common Share for 20 out of the 30 consecutive trading days up to and including August 16, 2010, the Company is triggering the accelerated expiry of the Warrants.

The Company will send written notice to all of the Warrantholders and the Warrantholders shall have a period of 20 trading days from deemed receipt of notice in which to exercise their Warrants. If a Warrantholder does not elect to exercise their Warrants during this period, then the Warrants shall expire. Given that the current trading price of the Common Shares is above the exercise price of the Warrants, management of the Company anticipates that a significant number of Warrants will be exercised.

About Miraculins Inc.

Miraculins is a medical diagnostic development company focused on non-invasive tests for unmet clinical needs. Miraculins is bridging the gap between commercially available diagnostic tests and research conducted at leading research institutions around the world. The Company's lead program, a suite of biomarkers for preeclampsia, is partnered with Alere Inc. (formerly known as Inverness Medical Innovations) (NYSE:ALR), one of the world's largest diagnostic companies. Miraculins has also recently completed the definitive agreement to acquire the PREVU™ Skin Cholesterol Test, an FDA cleared product for cardiovascular risk assessment. For further information please visit Miraculins website at www.miraculins.com.

Caution Regarding Forward-Looking Information

Certain statements contained in this press release constitute forward-looking information within the meaning of applicable Canadian provincial securities legislation (collectively, "forward-looking statements"). These forward-looking statements relate to, among other things, our objectives, goals, targets, strategies, intentions, plans, beliefs, estimates and outlook, including, without limitation, our anticipated future operating results, and can, in some cases, be identified by the use of words such as "believe," "anticipate," "expect," "intend," "plan," "will," "may" and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.

These statements reflect management's current beliefs and are based on information currently available to management. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from these expectations include, among other things: Miraculins' early stage of development, lack of product revenues and history of operating losses, uncertainties related to clinical trials and product development, rapid technological change, uncertainties related to forecasts, competition, potential product liability, additional financing requirements and access to capital, unproven markets, supply of raw materials, income tax matters, management of growth, partnerships for development and commercialization of technology, effects of insurers' willingness to pay for products, system failures, dependence on key personnel, foreign currency risk, risks related to regulatory matters and risks related to intellectual property and other risks detailed from time to time in Miraculins' filings with Canadian securities regulatory authorities, as well as Miraculins' ability to anticipate and manage the risks associated with the foregoing. Additional information about these factors and about the material factors or assumptions underlying such forward-looking statements may be found in the body of this news release. Miraculins cautions that the foregoing list of important factors that may affect future results is not exhaustive. When relying on Miraculins' forward-looking statements to make decisions with respect to Miraculins investors and others should carefully consider the foregoing factors and other uncertainties and potential events.

These risks and uncertainties should be considered carefully and prospective investors should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Miraculins cannot provide assurance that actual results will be consistent with these forward-looking statements. Miraculins undertakes no obligation to update or revise any forward-looking statement.

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.

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