Niblack Mining Corp.

Niblack Mining Corp.

March 15, 2007 19:05 ET

Niblack Mining Closes $15.39 Million Private Placements

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 15, 2007) -


Niblack Mining Corp. (the "Company") (TSX VENTURE:NIB) announces that the brokered private placement with a syndicate of agents, led by Pacific International Securities Inc. and including Haywood Securities Inc., and Salman Partners Inc. (the "Agents") has now closed. Under the brokered private placement, the Company issued 15,115,000 units (the "Units") at a price of $0.85 per unit to raise gross proceeds of $12,847,750. This included Units issued as a result of the Agents' election to exercise the over-allotment option. The Company also announces the closing of the previously announced non-brokered private placement for 3,000,000 Units raising gross proceeds of $2,550,000. The total gross proceeds raised in the two offerings are $15,397,750.

Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share for a period of eighteen months from the Closing Date at a price of $1.25.

As consideration for acting as agents in the brokered offering, the Agents received commissions of $451,889.75 cash, 526,415 units on the same terms as the Units and 1,511,500 compensation options (the "Compensation Options"). Each Compensation Option will entitle the Agents to purchase one additional common share for a period of eighteen months from the Closing Date at an exercise price of $0.90.

Proceeds from the offering will be used to finance further exploration on the Niblack property and for general working capital.

All of the securities issued pursuant to this private placement have a four month hold period that expires on July 16, 2007.

On Behalf of the Board,


Paddy Nicol, MBA, President

This news release, required by applicable Canadian laws, is not for distribution to U.S. news wire services or for dissemination in the United States, and does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Contact Information