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Re:   News Releases - Wednesday, January 14, 2009
      Tiomin Extends Freegold Ventures' Bridge Loan
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TORONTO - January 14, 2009: Tiomin Resources Inc.  ('Tiomin' or the
'Company') (TSX: TIO) announced today that it renegotiated the terms of
the US$2 million bridge loan the Company advanced to Freegold Ventures
Limited ('Freegold') on August 22, 2008. Freegold, as a result of a
delay in obtaining additional financing, requested the loan repayment
date of January 15, 2009 be extended to February 10, 2009.

Freegold announced today that it has received terms from a private
European lender for a secured line of credit of up to US $10 million
with the closing of the facility expected to be within the next three
weeks. Funds drawn under this facility will be used to repay in full
each of Freegold's US $2 million bridge loans owed to Tiomin and
another lender.  Closing of this facility is expected to occur within
the next three weeks, and in consideration of this timing, the Tiomin
agreed to extend the maturity of its loan to February 10, 2009.   As
consideration of this extension, the exercise price of the 350,000
warrants received at the time the bridge loans were advanced will be
reduced from $0.55 to $0.30, and Tiomin will receive an additional
250,000 common shares of Freegold.  The other terms and conditions of
the bridge loan will remain unchanged.

About Freegold Ventures Limited  (TSX: ITF, OTCBB: FGOVF, Frankfurt:
FR4)

Freegold is a North American exploration and development company with a
management team experienced in mine development and production that has
a proven track-record in transitioning exploration companies into gold
producers. Freegold is currently exploring advanced-stage gold projects
in Idaho and Alaska. More details regarding these projects can be
obtained by reviewing its website, www.freegoldventures.com, and
reviewing its recent press releases.

About Tiomin Resources Inc.

Tiomin is maximizing shareholder value by the acquisition, exploration
and development of industrial mineral, gold and base metal projects.
Jinchuan Group Limited ('Jinchuan'), one of China's largest mining
companies, owns approximately 20% of Tiomin. 

Tiomin has three main assets: approximately $20.6 million of cash (at
September 30, 2008), a 49% interest in the Pukaqaqa copper and gold
project in Peru and currently 100% interest in the Kwale titanium
project in Kenya.  Tiomin's share price currently only reflects the
value of its cash position and it receives no value for its other
assets in Peru or Kenya. 

In addition, Tiomin owns a 17.9% interest in Kivu Gold Corporation, a
company focused on mineral exploration in sub-Saharan Africa, and the
Company has earned a 70% interest in a joint venture company, Xinjiang
Pacific Resources ('XPR'), which has portfolio of exploration
properties that are in the Altay Shan mineral belt in Xinjiang Province
in northwestern China. The Company has a right to earn up to 90% of
XPR.

To find out more about Tiomin Resources Inc., please visit the company
website at www.tiomin.com.

For further information on Tiomin please contact:
        
Jim O'Neill, VP Corporate Controller and Investor Relations         
E-Mail: joneill@tiomin.com       
Phone: 416-350-3779, ext.  231         
        
Certain of the information contained in this news release constitute
'forward-looking statements' within the meaning of the Private
Securities Litigation Reform Act of 1995.   Such forward-looking
statements, including but not limited to those respect to the prices of
metals and minerals, estimated future production, estimated costs of
future production and the Company's sales policy, involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be
materially different from any forecast results, performance or
achievements expressed or implied by such forward-looking statements. 
Such factors include, among others, the actual prices of copper and
gold, the actual results of current exploration, development and mining
activities, changes in project parameters as plans continue to be
evaluated, as well as those factors disclosed in the Company's
documents filed from time to time with the Ontario Securities
Commission.

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Copyright (c) 2009 TIOMIN RESOURCES INC. (TIO)  All rights reserved.
For more information visit our website at http://www.tiomin.com/ or
send mailto:news@tiomin.com
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