Vancouver, B.C.
- Brilliant Mining Corp. (BMC: TSXV) ("Brilliant"
or the "Company")
announced today that it has received a total of $3.4 million from the
exercise of 2.9 million common share purchase warrants at an exercise price
of $1.05 per share and from the exercise of 320,000 Agent share purchase
warrants at an exercise price of $1.00 per share (All dollar amounts are expressed in Canadian dollars).
"This recent
exercise of warrants increases our working capital to over $14 million* and
marks the conversion of the Company's last outstanding share purchase
warrants" states John Williamson, CEO of Brilliant Mining.
The exercised warrants
were issued on May 10, 2006 as a component of the financing to acquire and
fund its interest in the Lanfranchi Nickel Mine located in the Kambalda
Nickel District of Western Australia.
*Estimated working
capital for Brilliant Mining Corp. as at May 14, 2008 and April 30, 2008 for
Donegal Resources Pty. Ltd., the fully owned Australian subsidiary.
On behalf of the Board
of Directors
"Mike Sieb
Mike Sieb, B.Sc., MBA
President
Brilliant Mining Corp.
For further information
about Brilliant Mining Corp., or this news release, please visit our website
at www.brilliantmining.com,
or contact:
The TSX Venture
Exchange has not reviewed and does not accept responsibility for the adequacy
or accuracy of this release.
Certain disclosures
in this release, including management's assessment of Brilliant's plans and
projects, constitute forward-looking statements that are subject to numerous
risks, uncertainties and other factors relating to Brilliant's operation as a
mineral exploration company that may cause future results to differ
materially from those expressed or implied in such forward-looking
statements. Readers are cautioned not to place undue reliance on
forward-looking statements. Brilliant expressly disclaims any intention or
obligation to update or revise any forward-looking statements whether as a
result of new information, future events or otherwise.