Nitinat Minerals Corporation
TSX VENTURE : NZZ

September 21, 2011 14:56 ET

Nitinat Announces Private Placement

TORONTO, ONTARIO--(Marketwire - Sept. 21, 2011) - Nitinat Minerals Corporation (the "Corporation") (TSX VENTURE:NZZ) is pleased to announce that, subject to regulatory approval, it has agreed to a non-brokered private placement of up to 5,000,000 units at a price of $0.15 per unit for gross proceeds of $750,000. Each unit is comprised of one (1) common share and one (1) common share purchase warrant (the "Warrant"). Each Warrant entitles the holder thereof to purchase one (1) common share for a period of two (2) years from the date of issuance. The Warrants are exercisable into common shares at a price of $0.20 each. The proceeds will be used for further exploration and development of the Corporation's properties and for general working capital.

The Corporation also announces that it has granted an aggregate of 800,000 stock options to an officer and a consultant to the Corporation. Each option is exercisable at $0.20 per common share and is exercisable at any time until September 21, 2016.

This update contains "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward looking statements can be identified by the use of forward looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Nitinat is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward looking statements contained in this release. Nitinat cannot assure investors that actual results will be consistent with these forward looking statements and Nitinat assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

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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