Rodinia Minerals Inc.

Rodinia Minerals Inc.

April 24, 2007 09:15 ET

Rodinia Secures Water Rights and Two Mill Sites Through Lease of Red Bluff Claims

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 24, 2007) -


Rodinia Minerals Inc. ("Rodinia") (TSX VENTURE:RM) is pleased to announce that it and its Delaware subsidiary, Donnybrook Platinum Resources, Inc. ("Donnybrook"), together known as (the "Company"), have entered into a mineral lease agreement (the "Agreement") with Ethel Schell Larsen's Red Bluff Mine, LLC ("Red Bluff"), to explore, develop and mine 46 unpatented lode mining claims and two permitted mill site claims (the "Claims"), located in Gila County, Arizona. The Agreement also gives the Company the option to purchase, at commercially prevailing rates, water associated with water rights owned by Red Bluff. Red Bluff will receive a 3% Yellowcake royalty in respect of uranium mined from the Claims, and a 3% net smelter return royalty in respect of all other ores mined from the Claims.

The Agreement, which is subject to regulatory approval, gives the Company the exclusive right of exploration and mining for a period of 17 years in return for paying to Red Bluff, over a period of five years:

- US$600,000 in rental payments;

- an aggregate of 1.2 million common shares of Rodinia (the "Shares");

- 1 million non-transferable share purchase warrants (the "Warrants"), each Warrant entitling Red Bluff to purchase one common share of Rodinia for a period of five years to April 18, 2012, at a price of $1.00 per share; and

- expending an aggregate of US$1 million on exploration and development of the Claims.

After year five, the Company will pay annual advance royalty payments to Red Bluff of US$150,000 for each of years 6 through 15 and US$200,000 for each of years 16 and 17.

Rodinia has agreed to pay a finder's fee to the maximum permitted under TSX policies in connection with its entering into the Agreement. The Shares and Warrants and any securities issued in payment of the finder's fee will be subject to a hold period expiring four months and one day after their issuance.

The Red Bluff property is part of the Dripping Springs Quartzite uranium bearing unit in Gila County, Arizona and is located approximately nine miles due south of the Workman Creek deposit where Rodinia has, as previously reported, a NI 43-101 compliant inferred resource of 5,542,000 lbs.

The Red Bluff mine was discovered in 1950 and was acquired by Westinghouse in 1976 through its wholly-owned subsidiary, Wyoming Minerals Corp. Approximately 70 holes were drilled and a historic resource was reported by David Kuck, Professional Geologist, in June 1988, but as such report is not NI 43-101 compliant, details of the historic estimate are not included in this news release. The Agreement also gives the Company access to an extensive historical data base.

Don Morrison, President of Rodinia, commented that, "By securing such a comprehensive land package that includes two mill sites and access to water, Rodinia has achieved a major strategic milestone, especially in light of the general shortage of water in the area and the scarcity of operating uranium mills in North America. The transaction substantially completes the Company's acquisition program in the Dripping Springs Quartzite."


Donald Morrison, President

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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