January 04, 2012
Magnum Energy Inc. Announces Closing of Private Placement
MAGNUM ENERGY INC. (the "Company") (MEN-TSX:V) is pleased to announce the closing of its private placement (the "Private Placement") announced in its news release dated November 18th, 2009. Pursuant to the Private Placement, the Company issued a total of 2,912,285 flow-through shares (the (the "Flow-Through Shares") at a price of $0.20 per Share for gross proceeds of $582,457.

Finder's fees of $35,974 were paid in accordance with the policies of the TSX Venture Exchange. Additionally, 146,620 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 hold periods expiring between April 19 and April 30, 2012.

For further information on Magnum Energy Inc. please contact either:

Richard Nemeth, President & CEO, 604.218.1479 or rnemeth@magnumenergyinc.com.

Dean Stuart, Boardmarker Group, 403.517.2270 or dean@boardmarker.net.

ON BEHALF OF THE COMPANY

Signed "Richard Nemeth"
Richard Nemeth, President

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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