MEN

MAGNUM ENERGY INC. (the "Company") (TSX VENTURE:MEN) is pleased to announce the
closing of the first tranche of its private placement (the "Private Placement")
announced in its news release dated November 18th, 2009. Pursuant to the Private
Placement, the Company issued 2,819,785 flow-through shares (the (the
"Flow-Through Shares") at a price of $0.20 per Share for gross proceeds of
$563,957.


Finder's fees of $15,974 were paid in accordance with the policies of the TSX
Venture Exchange. Additionally, 46,620 Finder's Warrants to acquire Class A
common shares of the Corporation at a price of $0.20 per share for a period of
one year were also issued.


All securities issued pursuant to the private placement are subject to a hold
period expiring on April 19, 2012.


ON BEHALF OF THE COMPANY

Richard Nemeth, President

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