MEN

MAGNUM ENERGY INC. (the "Company") (TSX VENTURE:MEN) is pleased to announce that
it has closed the first tranche of its private placement (the "Private
Placement") announced in a news release dated May 28, 2010 and amended on June
14, 2010. Pursuant to the Private Placement, the Company issued 1,581,750 Class
A Voting common shares (the "Shares") at a price of $0.40 per Share for gross
proceeds of $632,700.


Finder's fees consisting of 110,723 broker warrants (the "Broker Warrants") and
$44,289 in cash were paid in accordance with the policies of the TSX Venture
Exchange. Each Broker Warrant will entitle the holder to purchase one Share of
the Company for a period of twelve months from the date of issuance at a price
of $0.40 per Share.


All securities issued pursuant to the first tranche of the Private Placement are
subject to a hold period expiring on October 23, 2010.


ON BEHALF OF THE COMPANY

Richard Nemeth, President

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