MEN

MAGNUM ENERGY INC. (the "Company") (TSX VENTURE:MEN) is pleased to announce the
closing of its private placement (the "Private Placement") announced in its news
releases of October 14, 2009 and October 16, 2009. Pursuant to the Private
Placement, the Company issued 3,000,000 common shares (the "Shares") at a price
of $0.20 per Share for gross proceeds of $600,000.


A Finder's fees of $13,500 in cash was paid in accordance with the policies of
the TSX Venture Exchange.


All securities issued pursuant to the private placement are subject to a hold
period expiring on February 24, 2010.


ON BEHALF OF THE COMPANY

Richard Nemeth, President and CEO

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