PLY Playfair Mining Ltd

Playfair Mining Ltd. (TSX VENTURE:PLY) has closed its recently announced,
non-brokered, $1.1-million financing through the issuance of 1,091,667
non-flow-through shares and 3,500,000 flow-through shares, all at $0.24 per
share under the placement. 


The Company paid aggregate finder's fees of $25,000, 350,000 common shares
("Finder's Fee Shares") and 350,000 broker warrants (the "Broker Warrants") to
the finders in consideration for assisting with the purchase and sale of the
Shares. The Shares, Finder's Fee Shares and Broker Warrants issued pursuant to
the private placement are subject to a hold period expiring June 26, 2011. 


The financing proceeds will be used for working capital and exploration of
Playfair's 100-per-cent-owned copper-silver Seal Lake project located in central
Labrador, Canada.


Drilling at Seal Lake is progressing well with no interruptions, having
successfully completed 8 holes in 1300 meters of the planned 4000 meter Phase
One $1.4 million program.


In addition, Playfair Mining continues to see a strong rise in the asset value
of its four wholly owned tungsten deposits, located in four locations across
Canada. Playfair's 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
non-compliant NI 43-101 resource calculations.


Due to a growing disparity in global supply and demand, tungsten continues to
break through new all-time highs, with the spot price recently hitting
$370.00/MTU ($16.88/lb).


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.


Visit our website at www.playfairmining.com for more information and recently
added Seal Lake related drill program photos and videos.


ON BEHALF OF THE BOARD 

D. Neil Briggs, Director

Forward-Looking Statements: This Playfair Mining Ltd. News Release may contain
certain "forward-looking" statements and information relating to Playfair which
are based on the beliefs of Playfair management, as well as assumptions made by
and information currently available to Playfair management. Such statements
reflect the current risks, uncertainties and assumptions related to certain
factors including, without limitations, exploration and development risks,
expenditure and financing requirements, title matters, operating hazards, metal
prices, political and economic factors, competitive factors, general economic
conditions, relationships with vendors and strategic partners, governmental
regulation and supervision, seasonality, technological change, industry
practices, and one-time events. Should any one or more of these risks or
uncertainties materialize or change, or should any underlying assumptions prove
incorrect, actual results and forward-looking statements may vary materially
from those described herein.

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