Brilliant Mining Corp.
TSX VENTURE : BMC

Brilliant Mining Corp.

May 15, 2008 09:00 ET

Brilliant's Cash Position Increases Receives $3.4 Million From Warrant Exercises

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 15, 2008) - Brilliant Mining Corp. (TSX VENTURE:BMC) ("Brilliant" or the "Company") announced today that it has received a total of $3.4 million from the exercise of 2.9 million common share purchase warrants at an exercise price of $1.05 per share and from the exercise of 320,000 Agent share purchase warrants at an exercise price of $1.00 per share (All dollar amounts are expressed in Canadian dollars).

"This recent exercise of warrants increases our working capital to over $14 million(i) and marks the conversion of the Company's last outstanding share purchase warrants" states John Williamson, CEO of Brilliant Mining.

The exercised warrants were issued on May 10, 2006 as a component of the financing to acquire and fund its interest in the Lanfranchi Nickel Mine located in the Kambalda Nickel District of Western Australia.

(i)Estimated working capital for Brilliant Mining Corp. as at May 14, 2008 and April 30, 2008 for Donegal Resources Pty. Ltd., the fully owned Australian subsidiary.

On behalf of the Board of Directors

Mike Sieb, B.Sc., MBA, President

Brilliant Mining Corp.

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

Certain disclosures in this release, including management's assessment of Brilliant's plans and projects, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Brilliant's operation as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. Brilliant expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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