Toronto, Ontario -Nitinat Minerals Corp. (the “Corporation”) is pleased to announce that it intends to raise gross proceeds of up to $340,000 through a non-brokered private placement of up to 2 million common shares (the “Shares”) of the Corporation at a price of $0.17 per Share.

The non-brokered private placement is subject to all necessary regulatory approvals. The securities being issued in the private placement will be subject to a four-month hold period in accordance with applicable Canadian securities laws. The Corporation intends to use the net proceeds for general working capital.