PLY Playfair Mining Ltd

Playfair Mining (TSX VENTURE:PLY) is pleased to announce it is arranging a non
brokered private placement financing via the issuance of 4,500,000 common shares
at a price of $0.24 per share for total proceeds of $1,080,000.


The financing proceeds will be used for working capital as the company embarks
on an aggressive drilling program at its 100% owned copper-silver Seal Lake
project located in central Labrador, Canada. The initial drill program at Seal
Lake will consist of 4,000 metres of drilling to test the basin-wide continuity
of copper-silver occurrences previously drilled in 1956 and 1972. The first
target area is located near the west end of the property, where drilling will
test a 10-kilometre strike length with holes spaced an estimated one kilometre
apart. The second target area, a five-kilometre strike length, is located at the
east end of the property will be similarly tested with one kilometre spaced
holes.


In addition to the Seal Lake copper-silver project, Playfair Mining owns four
high grade Tungsten deposits and remains well positioned to take advantage of
the potential upcoming global Tungsten shortage. Playfair's four tungsten
deposits have all had significant work completed on them. Two of the deposits
(Risby and Grey River) have NI 43-101 compliant resource estimates while the
other two deposits (Lened and Clea) have historical noncompliant NI43-101
resource calculations. With substantial past work done on these four tungsten
assets, Playfair views the properties as providing outstanding leverage to the
price of tungsten with no current exploration expenditures required.


Tungsten has recently traded to an all-time high of $340 per Metric Ton Unit, an
increase of 50% over recent lows. Please see our website for an internet link
for the spot tungsten price.


Visit our newly revamped website at www.playfairmining.com for more information.

ON BEHALF OF THE BOARD

D. Neil Briggs, Director

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