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Re: News Release - Monday, January 21, 2008
Crowflight Accepts $55 Million Debt Facility Offer; Commences
2008 Exploration Program
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CROWFLIGHT MINERALS INC. (Crowflight, the Company) (TSX Venture
Exchange: CML) today announced that it has accepted the offer for up to
Cdn$55 million in debt finance from RMB Resources Inc. (RMB). RMB is
arranging the finance as Agent for FirstRand Ireland Plc, the Lender
and underwriter of the debt finance package.

The proposed $55 million facility will be used to finance the remaining
construction and start-up of the Bucko Lake Nickel Mine near Wabowden,
Manitoba. The proposed loan is subject to final approval by the
FirstRand Underwriting Committee and other conditions typical of a
facility of this nature. RMB is a well-known arranger and provider of
mining project finance. FirstRand is one of South Africa's most
prominent financial institutions. Auramet Trading, LLC of Fort Lee, New
Jersey is advising Crowflight on this transaction.

Further details about the debt finance are available in the Crowflight
press release dated January 10, 2008.

Crowflight is also pleased to announce the commencement of 2008
exploration activities on its Manitoba Thompson Nickel Belt properties.
In 2008, the Company intends to spend approximately $2.5 million on
properties held under option from Xstrata Nickel and $2.0 million
jointly funded by partner Pure Nickel on properties including and
adjacent to the past producing Manibridge Nickel mine, located
approximately 20 kilometres south of the town of Wabowden.

The Company plans to complete 25 holes for a total of 10,000 metres
during the winter 2008 drilling season. In the spring, Crowflight
expects to initiate an 8,000 metre drilling program at Manibridge with
the aim to establish NI 43-101 compliant mineral resource estimates at
this past producing property and evaluate targets of high exploration
potential identified nearby.

Greg Collins, Crowflight's Vice President of Exploration commented:
"Our focus during this 2008 winter program will be further expanding
Inferred Resources identified at Halfway Lake and the evaluation of
high-priority exploration targets located in close proximity to the
Bucko Lake Nickel Mine, particularly the Bucko North target, located
300 metres north of planned underground workings associated with the
Bucko Lake Mine."

Three drills supplied by More Core Diamond Drilling Services Ltd. of
Stewart B.C. are currently coring. Results from the winter exploration
program are expected to become available over the coming weeks.

Meanwhile, construction of the Bucko Mine site is progressing steadily.
The hoist and headframe set was commissioned in November and is now
fully operational. The underground shaft de-watering and rehabilitation
to the 1000 Level (approximately 330 metres below surface) is complete,
thereby providing access to commence the underground development and
exploration program. Two drills supplied by Boart Longyear are on site
and Crowflight is preparing to commence underground drilling activities
in late January. Work continues to advance on the mill and other
surface buildings.


The technical content of this press release has been prepared and
approved by Mr. Greg Collins, P. Geo., Crowflight's Vice President of
Exploration, a Qualified Person under the NI 43-101 guidelines.


Crowflight Minerals Inc. (TSX-V: CML) is a Canadian junior mining
exploration and development company focused on nickel, copper and
Platinum Group Mineral ("PGM") projects in the Thompson Nickel Belt and
Sudbury Basin. The Company currently owns and/or has under option
approximately 800 square kilometres of exploration and development
properties in Manitoba and Ontario.

Crowflight's priority is to bring the Bucko Nickel deposit located near
Wabowden, Manitoba into production by mid-2008.


Except for statements of historical fact contained herein, the
information in this press release constitutes "forward-looking
information" within the meaning of Canadian securities law. Such
forward-looking information may be identified by words such as "plans",
"proposes", "estimates", "intends", "expects", "believes", "may",
"will" and include without limitation, statements regarding the
Company's plan of business operations; mineral resource estimates, the
benefits and liabilities associated with the debt financing, and
projected costs and expenditures. There can be no assurance that such
statements will prove to be accurate; actual results and future events
could differ materially from such statements. Factors that could cause
actual results to differ materially include, among others, metal
prices, competition, risks inherent in the mining industry, and
regulatory risks. Most of these factors are outside the control of the
Company. Investors are cautioned not to put undue reliance on
forward-looking information. Except as otherwise required by applicable
securities statutes or regulation, the Company expressly disclaims any
intent or obligation to update publicly forward-looking information,
whether as a result of new information, future events or otherwise.

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

Further information is available on the Company's website at or
contact:

Mike Hoffman
President and CEO
Crowflight Minerals
Tel: (416) 861 - 2964

Heather Colpitts
Manager, Investor and Public Relations
Crowflight Minerals
Tel: (416) 861 - 5803

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Copyright (c) 2008 CROWFLIGHT MINERALS INC. (CML) All rights reserved.
For more information visit our website at http://www.crowflight.com/
or send mailto:info@crowflight.com
Message sent on Mon Jan 21, 2008 at 6:27:23 AM Pacific Time
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