MBMI Resources Inc.MBMI Resources Inc.
MBMI Resources Inc.
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 June 28, 2012
MBMI Announces Updates on Share Consolidation and Announces Debenture Conversions

 Richmond Hill, Ontario, June 28, 2012 -- MBMI RESOURCES INC. (the "Company") (TSX-V: MBR) is pleased to announce the successful completion of the consolidation of the Company's common shares (the "Common Shares"). The Common Shares are now trading on the TSX Venture Exchange on a ten (10) to one (1) basis whereby one (1) new Common Share has replaced every ten (10) pre-consolidation Common Shares issued and outstanding.

On June 21, the Company announced it had 181,657,658 Common Shares outstanding and an expected number of approximately 18,165,765 Common Shares outstanding after completion of the share consolidation. The Company is hereby correcting that disclosure, as there were 182,009,658 pre-consolidation Common Shares outstanding, and upon completion of the consolidation, 18,200,968 post-consolidation Common Shares were outstanding.

The Company is also pleased to announce that two of our Debenture holders, Kam Yuen Capital Ltd. ("Kam Yuen") and Gwynneth Gold Limited ("Gwynneth Gold") have converted their Debentures into Common Shares. This conversion occurred privately, at the election of the Debenture-holders. (Kam Yuen's offices are located at Room 805A, 8/F Sino Plaza, 255 Gloucester Rd., Causeway Bay, Hong Kong. Gwynneth Gold's offices are located at Room 1902, Cheung Kong Center 2 Queen's Road Central, Hong Kong.) As a result, 2,000,000 post-consolidation Common Shares and warrants exercisable for 1,000,000 post-consolidation Common Shares were issued to Kam Yuen in repayment of a Debenture having a principal outstanding of $200,000, and 1,600,000 post-consolidation Common Shares and warrants exercisable for 800,000 post-consolidation Common Shares were issued to Gwynneth Gold in repayment of a Debenture having a principal outstanding of $160,000. In completing this conversion, Kam Yuen and Gwynneth Gold sought their shareholdings of the Company now that its share consolidation has been completed.

Kam Yuen now owns and controls 3,618,967 post-consolidation Common Shares (or approximately 16.5% of those outstanding) and Gwynneth Gold owns and controls 3,913,581 post-consolidation Common Shares (or approximately 17.8% of those outstanding). Harmony Asset Limited, the parent company of Gwynneth Gold, is a joint actor with that company, but exercises no control over the securities of the Company held by Gwynneth Gold. Another Debenture-holder also converted its Debenture into 200,000 post-consolidation Common Shares and warrants exercisable for 100,000 post-consolidation Common Shares.

For further details regarding the securities-holdings of Kam Yuen Capital Ltd. and Gwynneth Gold Limited, please see the Early Warning Reports issued by those companies on April 30, 2012 and May 8, 2012 (available at www.sedar.com). For details regarding the Debentures which have been converted, as well as the warrants issued thereunder, please see the Company's press release of May 1, 2012 (also available at www.sedar.com).


For further information relating to the Company or this release, please refer to the Company's website at www.mbmiresources.com or contact John Wong, President and CEO by telephone at 905-886-3888 or by email at mbmi@mail.com.

Cautionary Statement:

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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

The foregoing information may contain forward-looking statements relating to the future performance of MBMI Resources Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. MBMI Resources Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

You can view the Next News Releases item: Tue Jul 31, 2012, MBMI Announces Results of Shareholders Meeting and Proposed Private Placement

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