Nitinat Minerals Corporation

Nitinat Minerals Corporation

February 22, 2012 16:20 ET

Nitinat Provides Update on Private Placement

TORONTO, ONTARIO--(Marketwire - Feb. 22, 2012) - Nitinat Minerals Corporation (TSX VENTURE:NZZ) (the "Corporation") announces that further to its press releases of September 21 and November 23, 2011, the Company has decided to defer the previously announced private placement at the present time. The Corporation has not issued any securities pursuant to the private placement.

Due to recent market volatility, the Company believes raising capital at the current market price would be unnecessarily dilutive to all shareholders.

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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