Numine Resources Ltd.

November 12, 2010 10:05 ET

Numine Resources Announces Receipt of Conditional Approval for Its Qualifying Transaction

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 12, 2010) - Numine Resources Ltd. ("Numine") (TSX VENTURE:NMR.P), a capital pool company as defined under the policies of the TSX Venture Exchange (the "Exchange"), is pleased to announce that its Qualifying Transaction (the "QT") involving the acquisition of all the issued and outstanding securities of Sunset Cove Mining Inc. ("Sunset Cove") has been conditionally approved by the Exchange. Sunset Cove is a junior exploration and development company that holds an option to acquire a 90% interest in the Carolay Poylmetallic Silver Property, located 320 km east of Trujillo in Peru. After completion of the QT, Numine will be renamed "Sunset Cove Mining Inc."

"This is a significant step in the development of Sunset Cove," said Lorne Woods, President and CEO of Sunset Cove. "We look forward to building shareholder value and continuing to work on and develop our Carolay Property," added Woods.

"Peru is a beautiful country," said Woods, "not only did one of its most famous authors recently win the Nobel Prize for literature, it also ranks first in terms of global silver production, second in copper and fifth in gold. In total reserves and resources it ranks third in the world." Peru was recently ranked highest among South American countries by the World Bank's "Doing Business 2011" report, which ranks competitiveness and ease of doing business. "We feel that we are in the right place at the right time," continued Woods.

Sunset Cove recently publicly filed a National Instrument 43-101 compliant report on the Carolay Property. The geological survey revealed gold, silver, copper, lead and zinc mineralization in 24 out of 26 samples. It mentioned the potential of both the mineralized polymetallic Carolay Vein and the Cezar Zone which looks like a disseminated copper ore-body. Based on the evidence in this report, Sunset Cove is preparing to launch a 5,000 meter drilling program at the property to establish the extent of the positive mineralization.

Mr. Alain Blais, P.Geo., Vice-President, Geology, is the Qualified Person for Sunset Cove as defined by National Instrument 43-101. Mr. Alain Blais is also responsible for ensuring that the geological information contained in this news release is accurate.

Closing and final acceptance of the QT is subject to the satisfaction of certain conditions, including fulfilling of all remaining filing requirements under the Exchange's policies and the completion of the concurrent private placement for minimum gross proceeds of $1 million. A Filing Statement concerning the QT will be posted at under Numine's profile.

Closing of the QT is scheduled to occur on or about November 30, 2010.

Neither TSX Venture Exchange Inc. 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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