CROWFLIGHT MINERALS INC. ("Crowflight" or the "Company") (TSX:CML) wishes to
augment is 2010 disclosure record to provide additional information in respect
of $23.05 million of unsecured convertible debenture notes ("Notes") issued in
three tranches in the latter half of 2010 to King Place Enterprises Ltd., a
company that was at the time a related party of Crowflight. 


The first Note was issued on August 27 (for $10.05 million), the second on
September 23 (for $3 million), and the third on November 29 (for $10 million).
As already disclosed in the Company's news releases following each of these
issuances, the Notes each had a six month term and were convertible at a five
day volume weighted average price less the maximum allowable discount permitted
by TSX. A maximum of 58,356,471 common shares could be converted prior to
disinterested shareholders approval of the Notes. At the time of the initial
Note purchase, King Place owned 42.5% of Crowflight shares. The Notes were not
issued in pre-arranged tranches but rather were the result of individual
negotiations and related to specific business purposes. The Note proceeds were
urgently required due to working capital deficiencies being experienced by
Crowflight in order to pay essential creditors to keep Bucko nickel mine open.
In particular, the first and second Note issuances were made to address short
term cash flows and operational issues at the Bucko Lake mine and the third Note
issuance was made to address certain outstanding accounts payable. 


A material change report dated September 3, 2010 was filed for the August Note,
although no material change reports were filed following the September and
November Note issuances. News releases disclosing the material terms of the
Notes were promptly issued following each Note issuance. King Place did not have
representation on the Crowflight board at the time of the August Note issuance
and had only one director nominee at the time of the September and November Note
issuances. All of the Notes were unanimously approved by the Crowflight board,
with the King Place nominee abstaining from the deliberations and voting with
respect to the September and November Note issuances. 


On August 6, 2010 King Place was acquired by Hebei Wenfeng Iron and Steel Co.
Ltd. ("Hebei"), a private Chinese steel producer, which thereby became the
ultimate control person of Crowflight. Mr. Wenfeng Liu, a former senior
executive of Hebei, was appointed Crowflight's Chairman in conjunction with the
November Note issuance. Furthermore, one of the conditions of the final Note was
that there be a change of at least a majority of the Crowflight board in favour
of King Place nominees.


In connection with the Notes, Crowflight did not require any formal valuation or
minority shareholder approval because the fair market value of each of the Notes
constituted less than 25% of Crowflight's market capitalization at the time it
was agreed upon and, in addition, the Crowflight board also determined the
company to be in serious financial difficulty at the time. It was not possible
at the time the Note issuances were effected to determine the number of
Crowflight shares into which the Notes could have been converted beyond the
58,356,471 shares allowed before shareholders approval. There were no agreements
involving third parties in connection with any of the Note issuances. 


On December 29, 2010, $2,617,288 of the Notes including interest were converted
into 58,356,471 Crowflight shares which raised King Place's shareholdings to
305,386,442 shares or 47.6% of outstanding shares at that time. On March 9,
2011, the Company repaid $10 million of the Notes from the proceeds of a private
placement and on March 28, 2011 the Company announced that it had received a
notice of conversion of the final $10 million principal amount Notes and will
issue approximately 258.8 million shares to settle the remaining balance of the
Notes ($11.3 million inclusive of $0.9 million of interest). The TSX has
conditionally accepted notice of the conversion subject to Crowflight obtaining
disinterested shareholder approval by way of a shareholders meeting or by
written consent resolution. The Company is currently making a further submission
to TSX demonstrating that it has in-hand the required minimum number of executed
consent resolutions so that completion of the final Note conversion is expected
to occur in the immediate future. Upon completion of the conversion, King Place
will own or control 564,316,145 shares, or 37.6% of the 1.5 billion shares then
issued and outstanding of the Company.


About Crowflight Minerals Inc.

Crowflight Minerals Inc. (TSX:CML) is a Canadian junior mining company that owns
and operates the Bucko Lake Nickel Mine near Wabowden, Manitoba. The Company
also holds nickel, copper and Platinum Group Mineral (PGM) projects in the
Thompson Nickel Belt and Sudbury Basin. 


Cautionary Note on Forward-Looking Information

This press release contains forward-looking statements under Canadian securities
legislation. Generally, forward-looking statements can be identified by the use
of forward-looking terminology such as "plans", "expects" or "does not expect",
"is expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of such
words and phrases or statements that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements are based on the opinions and estimates of management
as of the date such statements are made. Forward-looking statements are subject
to known and unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of the Company to
be materially different from those expressed or implied by such forward-looking
statements, including but not limited to those risks of the Company described in
its annual information form that is available under its profile on SEDAR at
www.sedar.com. Although management of the Company has attempted to identify
important factors that could cause actual results to differ materially from
those contained in forward-looking statements, there may be other factors that
cause results not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements. The Company does not undertake to update any forward-looking
statements, except in accordance with applicable securities laws.