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Brumby Resources Share Placement

Brumby Resources Limited (BMY) is pleased to announce that it has received firm placement commitments from professional and sophisticated investors to raise $2.61 million before costs. Argonaut Securities Pty Limited (Argonaut) acted as Lead Manager for the capital raising. The placement of 16,875,000 shares at an issue price of 15.5 cents per share is within the Company’s 15% capacity under ASX Listing Rules. The funds raised through the placement will be used to bolster the Company’s exploration work programmes in 2010 and 2011. The Company has a number of exciting projects presently under focus, including the manganese prospect at Oakover and the gold prospect at Brilliant Well (both in Western Australia). In addition, the Company intends to devote increased attention to its McArthur River tenement interests, located within the highly prospective and world class McArthur River Basin in the Northern Territory. The tenement geology encompasses the same favourable Lower Proterozoic formation which hosts the McArthur River, Century, Mt Isa, Dugald River and Cannington zinc-lead-silver deposits.