MBMI Provides Corporate Update and Files Financials

RICHMOND HILL, ONTARIO--(Marketwire - Oct. 6, 2011) - MBMI RESOURCES INC. ("MBMI" or the "Company") (TSX VENTURE:MBR) wishes to provide an update on its corporate activities.

The financial reporting and corporate compliance services of RG Mining Investments Inc. has been terminated. Pursuant to this termination, and effective September 30, 2011, MBMI has accepted the resignations of Stephen M. Gledhill as Chief Financial Officer and Leslie Haddow as Corporate Secretary.

In addition, Mr. Frank Pastorino, the Company's Vice President of Operations, has also been terminated.

Mr. Sam Y.C. Kwan has been appointed as Chief Financial Officer of the Company, effective on October 1, 2011.

Sam Y.C. Kwan, CA, CPA, has more than twelve years financial experience in external audit, taxation, accounting and corporate finance. He has experience in international business and has been involved in foreign exchange risk management and hedging strategy implementation. Mr. Kwan is a Chartered Accountant who has practiced at major accounting firms, most recently at BDO Dunwoody LLP. Mr. Kwan is the Audit Committee Chairman of Kam and Ronson Media Group Inc. and the President of Horwath Leebosh Global Advisors, Inc., the Asia Pacific corporate finance division of Horwath Leebosh Appel LLP, which provides financial advisory services to Chinese, Hong Kong and other Pacific Rim entities.

In connection with this appointment of Sam Y.C. Kwan as Chief Financial Officer, the Company's Board of Directors ("the Board") has approved a consulting agreement entitling Mr. Kwan to an annual base salary of $80,000 ($6,667 per month) plus $9,600 ($800 per month) in housing allowances, and a signing bonus of 250,000 share purchase options of the Company exercisable at a price of $0.10 per share for five years from the date of grant.

The Board has also appointed Mr. John H. Wong (President and Chief Executive Officer) as a director to fill a vacancy and bring the total appointed directors to six.

Mr. John H. Wong holds a Bachelor's degree in Finance and a Master of Business Administration. Mr. Wong has accumulated over twenty years of international experience in diversified investment projects in Europe, America, Asia and Africa. He has been involved in feasibility studies, management, marketing and financial control in various industries and his diverse worldwide investment experience strengthens his global view and analytical abilities. Mr. Wong is a director of the TSX-V listed company Kam & Ronson Media Group Inc., President of SinoCan Capital Inc. and CEO of Horwath Leebosh Global Advisors Inc.

In connection with Mr. Wong's previously announced appointment on July 29, 2011, as President and Chief Executive Officer, the Board has approved a consulting agreement entitling Mr. Wong to an annual base salary of $120,000 ($10,000 per month) and a signing bonus of 375,000 share purchase options of the Company exercisable at a price of $0.10 per share for five years from the date of grant.

The Board has also approved a directors' compensation program entitling each non-executive director of the Company (other than the Chairman of the Board) to annual director retainer fees of $12,000 ($1,000 per month). In addition, each director (other than the Chairman of the Board) will be granted of 250,000 share purchase options of the Company exercisable at a price of $0.10 per share for five years from the date of issuance ("Director's Options"). The Chairman of the Board will be entitled to annual director retainer fees of $24,000 ($2,000 per month) and a grant of 375,000 share purchase options of the Company exercisable at a price of $0.10 per share for five years from the date of issuance.

As both John H. Wong and Sam Y.C. Kwan are officers of the Company who also act as directors, they will not be entitled to director retainer fees, but will be entitled to Director's Options.

In addition, the Board has approved a grant of 250,000 share purchase options of the Company exercisable at a price of $0.10 per share for two years from the date of grant to each director of the Company (other than the Chairman of the Board and John H. Wong, a director and the Chief Executive Officer), and a grant of 375,000 share purchase options of the Company exercisable at a price of $0.10 per share for two years from the date of grant to the Chairman of the Board and to John H. Wong. All of these options will vest upon the validation of Financial and Technical Assistance Agreements of the Company relating to certain properties in the Philippines which are currently the subject of a dispute as disclosed in the Company's press release of April 19, 2011 (the "Validation") if such Validation is obtained within one year of the option grant. If the Validation is not obtained within one year of the option grant, one-half of the options granted will expire after one year from the option grant. The remaining options will either vest upon the Validation if the Validation is obtained within two years of the option grant, or expire two years from the date of grant if the Validation has not been obtained by that time.

All share purchase options granted have been granted under the Company's stock option plan under which 10% of the Company's issued and outstanding shares are reserved for issuance under the plan.

Head Office Relocation

Effective October 1, 2011, the Company's corporate head office was relocated to Richmond Hill, Ontario:

30 Wertheim Court, Unit 10 East Office

Richmond Hill, Ontario

Canada L4B 1B9

Financial Results

MBMI has completed and filed its interim Financial Statements and Management Discussion and Analysis for the period ended July 31, 2011.

Full results may be found at www.sedar.com or the Company's website.

ON BEHALF OF THE BOARD OF DIRECTORS

John H. Wong, President and C.E.O.