MEN

MAGNUM ENERGY INC. (the "Corporation") (TSX VENTURE:MEN) is pleased to announce
that a total of 1,625,000 stock options have been granted to the directors,
officers and a consultant of the Corporation at an exercise price of $0.18 per
share for a period of five years from the date of grant. The options have been
granted in accordance with the Corporation's stock option plan.


The Corporation proposes to reduce the exercise price of a total of 400,000
stock options with an exercise price of $0.34 to an exercise price of $0.18 per
share. There has been no change to the expiry dates of the options.


The grant and re-pricing of the stock options are subject to the approval of the
TSX Venture Exchange.


ON BEHALF OF THE CORPORATION

Richard A. Nemeth, President

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