Mr. Peter Hughes reports

FINORE EXTENDS PGE & GOLD MINERALIZATION ALONG STRIKE AT HAUKIAHO

Finore Mining Inc. has released results from the first three drill holes from the company's initial drill program on the Lantinen Koillismaa palladium-platinum-gold-copper-nickel project (the LK project) in north-central Finland.

Highlights include:

• 44.0 metres at 0.80 gram per tonne platinum group elements (PGE) plus gold, 0.28 per cent copper and 0.19 per cent nickel from 58 metres (hole HAU11-002);
  • Including 13.0 metres at 1.15 grams per tonne PGE plus gold, 0.38 per cent copper and 0.27 per cent nickel from 84 metres;
• Five metres at 1.05 grams per tonne PGE plus gold, 0.33 per cent copper and 0.24 per cent nickel from 114 metres (hole HAU11-004).

These drill results confirm and extend the palladium-platinum-gold-copper-nickel mineralization on the Haukiaho target, situated in the southern part of the LK project. Drilling began in November, 2011, focusing on the central-western mineralization at Haukiaho, known as the Torkoaho zone. To date, a total of 12 holes have been geologically and geotechnically logged with zones of potential mineralization selected for sampling and assaying. Prior to the beginning of this drill campaign, the Torkoaho zone had a total of seven historic drill holes that were scattered along a strike of one kilometre. A significant portion of the current 10,000-metre phase V drill program at the LK project has been designed to target the 3,700-metre strike and downdip extension of mineralization at Haukiaho to upgrade the inferred mineral resource estimated by WGM as part of the NI 43-101 technical report submitted to Finore (see Finore news release dated Jan. 16, 2012).

Finore's chief executive officer, Ian F. Laurent, commented: "We are extremely pleased with these results from hole 2 confirming the extension of mineralization along strike to the west. It is interesting to note that the precious metal grades are nearly double their grades estimated in the inferred mineral resource on the Haukiaho deposit. We recognize that this is just the beginning, as we still have another two kilometres of strike to drill test at Haukiaho."

Drill results have been received for palladium, platinum, gold, copper and nickel for holes Hau11-002, Hau11-003 and Hau11-004. Drill results are shown in the attached table. Nickel results are total nickel contained in both sulphides and silicates. Analytical studies have been commissioned to determine the weighted average nickel content in sulphides.

                   BEST INTERCEPTS OF PGE PLUS GOLD, COPPER AND NICKEL
                         PHASE V DRILLING AT HAUKIAHO AND TORKOAHO
                          
Hole ID         From        To    Interval        Pd       Pt       Au     PGE + Au    Copper    Nickel
                  (m)       (m)         (m)     (g/t)    (g/t)    (g/t)        (g/t)       (%)       (%)

Hau11-001       Hole abandoned
Hau11-002       58.0     102.0        44.0      0.48     0.18     0.15         0.80      0.28      0.19
Including       84.0      97.0        13.0      0.71     0.27     0.17         1.15      0.38      0.27
Hau11-003       84.2      85.0         0.8      0.03     0.01     0.07         0.11      0.10      0.11
Hau11-004      114.0     126.0        12.0      0.38     0.14     0.12         0.64      0.20      0.14
Including      114.0     119.0         5.0      0.63     0.23     0.19         1.05      0.33      0.24
                         
Notes: 
- Lower cut-off grade equals 0.1 gram per tonne PGE plus gold.
- Internal waste equals zero metre.
- Hole Hau11-001 was not sampled.
- Based on current geological interpretation, results are true widths.

Results explained

Drill hole Hau11-001 was abandoned at 45 metres, after encountering difficult ground conditions. Hole Hau11-002 was collared 10 metres to the south of hole Hau11-001 and successfully intersected a 44-metre-wide zone of palladium-platinum-gold-copper-nickel mineralization (from 58 metres) which is hosted in a cumulate gabbro host rock, commonly known as the marginal series. Within this 44-metre-wide mineralized zone, there is a 13-metre-thick, high-grade embayment zone with a 20- to 35-per-cent increase in grade for all five metals. Hole Hau11-002 is the most western drill hole at Haukiaho, and confirms that mineralization is open along strike and down dip. A future hole is scheduled to test the mineralization downdip.

Hole Hau11-003 was drilled 100 metres east of hole Hau11-002, but did not intersect the mineralized host rock (gabbro) before entering the quartz-albite basement rock. With the new information, the geologic model has been reinterpreted and a new hole will be collared 100 metres to the north of hole Hau11-003 and along strike of the mineralization intersected in holes Hau11-002 and Hau11-004.

Hole Hau11-004 was drilled to target the mineralization downdip of GTK hole R392, 200 metres east of hole Hau11-002 and 100 metres east of hole Hau11-003. Although the marginal series is narrower, the grades of the precious and base metals are similar to the higher-grade embayment zone encountered in hole Hau11-002.

The geological interpretation and model are constantly being updated. Platinum group element and gold mineralization at Haukiaho continues to be intimately associated with significant copper and nickel values. Mineralization is predominantly hosted in a gabbroic-phase-rich marginal series of the Kuusijarvi block, which makes up the Koillismaa layered intrusive complex near the footwall contacts of the metasomatized Precambrian quartz-albite basement rock.

Laboratory and analyses

ALS Chemex based in Outokumpu, Finland, is conducting the preparation and analytical work of drill core samples from the phase V drill program. The samples are analysed for platinum, palladium and gold by lead fire assay (30-gram nominal charge) with an inductively coupled plasma atomic emission spectroscopy (ICP-AES) finish. A multielement suite of 35 elements including copper and nickel are analyzed by aqua regia digestion with also an ICP-AES finish. Ore grade analyses are carried out on any results for copper and nickel that are over the upper detection limit. The company continues to use Labtium Oy (a Finnish laboratory based in Rovaniemi, Finland) for check sampling and quality assurance/quality control purposes, along with select analyses of nickel-rich zones to determine the sulphide nickel values with respect to the total nickel values.

About the LK project

The LK project is located in north-central Finland, 660 kilometres north of the capital Helsinki, 65 kilometres south of the Arctic Circle. The project is well serviced by power, roads and water, allowing all-season access. The LK project consists of the Kaukua, Lipeavaara, Murtolampi and Haukiaho targets. Nortec carried out over 10,000 metres of diamond core drilling on the Kaukua target between 2007 and 2009. The Haukiaho target has over 7,000 metres of historical diamond drilling conducted over since the 1960s to 2004. Nortec did not carry out any drilling on the Haukiaho target. The LK project has a combined surface area of over 3,750 hectares and covers a palladium-platinum-gold-copper-nickel-mineralized horizon known as the marginal series that is hosted within a sequence of mafic- and ultramafic-layered intrusions.

The mineral resource estimate of the Kaukua and Haukiaho deposits that form part of the LK project was prepared by Watts, Griffis and McOuat (WGM) in November and December, 2011.

Inferred mineral resource

• 19.6 million tonnes at 0.26 gram per tonne palladium, 0.09 gram per tonne platinum, 0.10 gram per tonne gold, 0.24 per cent copper and 0.15 per cent nickel (Haukiaho);
• 8.5 million tonnes at 0.76 gram per tonne palladium, 0.27 gram per tonne platinum, 0.08 gram per tonne gold, 0.16 per cent copper and 0.11 per cent nickel (Kaukua);
• A combined total of 28.1 million tonnes for 586,080 ounces PGE plus gold, 60,567 tonnes of copper and 38,703 tonnes of nickel.

Indicated mineral resource (Kaukua)

• 2.6 million tonnes at 0.67 gram per tonne palladium, 0.22 gram per tonne platinum, 0.07 gram per tonne gold, 0.17 per cent copper and 0.12 per cent nickel for 80,399 ounces PGE plus gold, 4,429 tonnes of copper and 3,126 tonnes of nickel.

WGM has recommended that Finore continue to upgrade the quality of the mineral resources on the LK project through continuing exploration (see Finore news release dated Jan. 16, 2012).

Turkka Rekola, MSc, project geologist at Finland, and Ian Laurent, MSc (economic geology), MAIG, RPGeo, chief executive officer of Finore, are the persons responsible for initiating and guiding of the work programm on the LK project. Mr. Laurent is the qualified person as defined by NI 43-101 and prepared this news release.

We seek Safe Harbor.