Sunset Cove Mining Inc.

November 16, 2010 10:17 ET

Sunset Cove Announces Private Placement

MONTREAL, QUEBEC--(Marketwire - Nov. 16, 2010) - Sunset Cove Mining Inc. ("Sunset Cove", or the "Company") announces today that it intends to carry out a non-brokered private placement offering of a minimum of 5 million units and a maximum of 20 million units at a subscription price of $0.20 per unit, each unit consisting of one common share and a half warrant, each whole warrant exercisable for one additional common share at an exercise price of $0.25 for 18 months from their issuance date. (the "Private Placement"). Gross proceeds to be raised from the Private Placement are anticipated to be between minimum of $1 million and a maximum of $4 million.

The Private Placement will close immediately prior to, or concurrently with, Sunset Cove's business combination with Numine Resources Ltd. ("Numine"), and closing of the two transactions is mutually conditional upon one another. The Company intends to use the net proceeds from the Private Placement to fund exploration and development expenditures on its Carolay property in Peru, and for general corporate purposes. All common shares sold pursuant to the Private Placement will become free trading upon completion of the business combination with Numine Resources Ltd.

Upon closing, and subject to regulatory approval, Sunset Cove may pay a finder's fee to arm's length parties equal to eight per cent (8%) of the gross proceeds raised from the Private Placement, and issue compensation warrants up to eight per cent (8%) of the number of units placed (each compensation warrant entitling the holder to acquire one unit of the Company at an exercise price of $0.20 per unit for a period of 18 months)

Closing of the Private Placement is expected 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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