Rich Minerals Corp.

Rich Minerals Corp.

March 23, 2009 09:00 ET

Rich Minerals Corporation Closes Private Placement

CALGARY, ALBERTA--(Marketwire - March 23, 2009) - Rich Minerals Corporation. ("Rich" or the "Corporation") (TSX VENTURE:RMC) is pleased to announce that it has completed a non-brokered private placement of 6,000,000 common shares at a price of $0.05 per common share for gross proceeds of $300,000 (the "Offering"). Directors and officers of the Corporation acquired 700,000 common shares pursuant to the Offering. The Corporation now has 30,033,000 common shares issued and outstanding.

The Offering is subject to final TSX Venture approval. The securities issued pursuant to the Offering are subject to a four month hold. Proceeds of the Offering will be used for general corporate purposes and to increase the Corporation's working capital.

The Corporation has rescheduled its Annual and Special General Meeting; it is now scheduled for April 23, 2009.

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. Trading in the securities of the Corporation should be considered highly speculative.

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