MBMI Announces Updates on Share Consolidation and Announces Debenture Conversions

MBMI RESOURCES INC. (the "Company") (TSX VENTURE: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.


Cautionary Statement:

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.

Mbmi Resources Inc. (TSXV:MBR)
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