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 July 27, 2009
MBMI Amends Convertible Debenture Financing Terms

 Vancouver, B.C., July 27, 2009 - MBMI RESOURCES INC. ("MBMI" or the "Company") (TSX V: MBR) reports that further to its May 25, 2009 news release, it has amended financing terms pertaining to a secured 2 year convertible debenture for up to $1.5million and a 2 year bridge loan for up to $1.5 million for a total of up to $3 million.

The principal amount of the Debenture is now convertible into Units of MBMI at the option of the Lender at a fixed conversion price of $0.10 per Unit. The Units are comprised of a Common share and one Common Share purchase Warrant. One Warrant will entitle the holder to purchase one Common Share at a price of $0.13 per share for a period of 2 years from closing. Interest of 10% per annum will be payable, and MBMI will issue to the Bridge Loan Lenders up to 4,800,000 common shares on closing.

Closing of the financing is nearing completion and subject to execution of definitive Loan documents and regulatory approvals as may be required. Finders' fees will be payable on closing.

The net proceeds of the financings shall be used for exploration and development of the Company's Philippine nickel mineral properties, and for general corporate purposes.

Corporate Profile

MBMI Resources Inc. is a Canadian-based mining company focused on the exploration and development of nickel mineral properties in the Philippines. MBMI and its Philippine partners have an interest in nine nickel laterite projects in the Philippines, covering an area greater than 22,000 hectares. MBMI's objective is to become a major supplier of high-grade nickel products to primary industrial consumers in Asia.


"Michael T. Mason"
President and Director

Further Information

For further information relating to the Company or this release, please refer to the Company's website at www.mbmiresources.com or contact Investor Relations at 1-877-399-1991 or mbr@mbmiresources.com.

Neither the TSX Venture Exchange 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.

This news release may contain forward-looking information including but not limited to comments regarding the timing and content of upcoming financings, work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking information includes disclosure regarding possible future events, or conditions or results of operations that is based on assumptions about future economic conditions and courses of action, and therefore, involves inherent risks and uncertainties. Although management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such statements.

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