Rich Minerals Corp.

Rich Minerals Corp.

April 20, 2009 19:13 ET

Rich Minerals Sells Land and Building

CALGARY, ALBERTA--(Marketwire - April 20, 2009) - Rich Minerals Corporation (the "Corporation") (TSX VENTURE:RMC) is pleased to announce that it has sold commercial property located in Calgary, Alberta owned by its subsidiary, Rich Venture Corporation (the "Subsidiary"), to an arm's length purchaser, for a purchase price of $300,000, paid by way of a vendor take-back mortgage (the "Mortgage") in favour of the Subsidiary (the "Transaction").

Following the closing of the Transaction, the Mortgage was transferred by the Subsidiary to certain related parties of the Corporation in satisfaction of severance amounts owing by the Corporation to the related parties (the "Transfer of Mortgage"). See change of control news release of the Corporation dated and filed on SEDAR on February 23, 2009 for further information regarding the severance amounts. The Transfer of Mortgage is subject to TSX Venture Exchange approval.

The Corporation has determined that exemptions from the various requirements of the TSX Venture Exchange Policy 5.9 are available for the Transfer of Mortgage.

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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