Saturn Minerals Inc.
TSX VENTURE : SMI

Saturn Minerals Inc.

May 31, 2011 14:20 ET

CORRECTION FROM SOURCE: Saturn Minerals Inc. Reports Coal Quality Results Karolina Basin Coal Quality Returns Up to 24,120 kj/kg (10,368 BTU/lb)

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 31, 2011) - Saturn Minerals Inc. (TSX VENTURE:SMI) ("Saturn", the "Company"), amended news release, "as received" and "air dry" ash contents (see paragraph 3*), is pleased to announce the results of the proximate coal analysis from the Karolina Basin discovery on the Company's Overflowing Property. The Overflowing Property is one of several coal properties which together constitute the Company's 'Saskatoba Project'.

51 coal samples were collected from six drill holes which encountered the Saturn Coal Seam in the Karolina Basin. Coal intersections in individual drill holes ranged form 3.00 m to 88.98 m. Sample intervals were selected based on visual examination and submitted to Loring Laboratories Ltd. of Calgary, Alberta to test coal properties. The average length of sample intervals was approximately 3.5 m.

The best composite sample result is a 32.01 m continuous coal intersection from drill hole QP 227-04 (from 88.39 to 120.40 m depth interval) which returned an extremely high calorific value of 24,120 kj/kg or 10,368 BTU/lb (both values are weighted averages from 7 consecutive samples at "air dry" basis) and extremely low ash content of 8.86% ("as received") and 15.53% ("air dry")*. This result represents one of the best coal quality intervals of comparable thickness encountered to date in the Hudson Bay area of eastern Saskatchewan & western Manitoba. The Company intends to complete additional washability tests on coal samples to assess potential gain in calorific value and additional loss in ash content.

A collection of all 35 samples which represent the thickest coal intersections (a total of 134.4 m of coal) encountered in the central part of the Karolina Basin (drill holes QP 227-01 and QP 227-04) displays high calorific values at a weighted average of 20,532 kj/kg or 8,827 BTU/lb ("air dried" basis) and relatively low ash (16.68%) and sulfur (1.94%) contents. The exclusion of 4 samples which represent the deepest parts of the coal intersections in both drill holes raises the average calorific value of coal from the central part of the basin to 21,092 KJ/kg or 9,067 BTU/lb and reduces total ash content to 15.26%.

A collection of 16 samples which represent coal intersections along the northern periphery of the Karolina Basin (a total of 38.42 m of coal) returned moderate calorific values at a weighted average of 18,647 kj/kg or 8,016 BTU/lb ("air dried" basis), moderate ash (23.44%) and low sulfur (1.50%) contents. The exclusion of 2 samples which represent subordinate intersections of distinctly impure coals (the bottom 1.45 m interval in drill hole QP 227-7 and the entire 4.12 m interval in drill hole QP 227-3) raises the average calorific value of coal from the northern periphery of the Karolina Basin to 19,598 kj/kg or 8,425 BTU/lb and reduces total ash content to 20.80%. These parameters characterize coals of significant thickness (10.75 to 11.28 m) which were encountered at extremely shallow depths (15.77 to 26.52 m).

To view Table 1: Karolina Basin - Central and Table 2: Karolina Basin - Northern Periphery please visit the following link: http://media3.marketwire.com/docs/smi_T1-2.pdf

Most coal samples from the Karolina Basin are characterized by significantly lower ash content and higher calorific values ("dry" basis) as compared to samples collected by the Company from the coal discovery in the Leif Basin (Armit Property) in eastern Saskatchewan (see Saturn news release, February 24th, 2010). Both groups of samples are characterized by comparable contents of total sulfur and similar calorific values on an "as received" basis.

The reported analytical results form the Karolina Basin support the expectation that thicker coals from the central parts of individual coal basins are characterized by relatively better quality than thinner coals encountered at the peripheries of such basins. Minor coal intervals of distinctly lower quality (due to significantly higher ash contents) are expected to occur almost exclusively near the bases of significant coal seams. Both features allow for considerable optimization of a potential open pit mine.

The sampling intervals in this news release are reported according to driller measurement blocks being the usual reference for all core sampling. Coal seam boundaries and widths are based on driller measurements and may locally differ from the boundaries and widths of the coal intersections as previously reported (see Saturn news release, March 29th, 2011) which were identified in and carefully calibrated by downhole density logs.

The Company is currently incorporating newly acquired analytical data into its continuously updated exploration model to refine and calibrate exploration methods and identify additional drill targets on the Saskatchewan and Manitoba properties which constitute the Saskatoba Project.

Dr. Krzysztof Mastalerz, P.Geo., the Company's Qualified Person under NI 43-101 standards has reviewed and approved the technical content of this news release.

About Saturn Minerals Inc.

Saturn Minerals Inc. (TSX VENTURE:SMI) is a junior Canadian energy & resources company advancing a portfolio of energy and resource assets in Saskatchewan and Manitoba. The Company owns over 1,240 sq. km of coal rights and 1,524 km of oil & gas rights in eastern Saskatchewan and western Manitoba. Saturn has made two coal discoveries at its Saskatoba Project since 2009, including one of the thickest coal intercepts encountered in Canada at 88 meters. Saturn continues to build strategic relationships throughout Saskatchewan & Manitoba to pursue new opportunities and advance current projects in the eastern regions of the Western Canadian Sedimentary Basin.

SATURN MINERALS INC.

Stan Szary, President

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 news release.

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