Mr. Peter Hughes reports

FINORE EXTENDS MINERALIZED STRIKE 150 METERS AT KAUKUA, FINLAND

Finore Mining Inc. has released further results 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:

• 49.55 metres of 1.1 grams per tonne platinum group elements plus gold (PGE plus Au), 0.15 per cent copper, 0.1 per cent nickel from 212 m (hole KAU12-053);
• 47 metres of 1.21 grams per tonne PGE plus Au, 0.16 per cent copper, 0.12 per cent nickel from 184 metres (hole HAU12-052);
  • Including 6.1 metres of 2.63 grams per tonne PGE plus Au, 0.34 per cent copper, 0.17 per cent nickel from 205.9 metres;
• 18.80 metres of 1.85 grams per tonne PGE plus Au, 0.23 per cent copper, 0.14 per cent nickel from 157.3 metres (hole HAU12-052);
  • Including five metres of 2.54 grams per tonne PGE plus Au, 0.3 per cent copper, 0.19 per cent nickel from 158 metres;
• 3.4 metres of 5.34 grams per tonne PGE plus Au, 0.84 per cent copper, 0.35 per cent nickel from 225 metres (hole HAU12-051).

Drill hole KAU12-052 has returned two high-grade zones of palladium, platinum, gold, copper and nickel (PGE and gold, copper and nickel) from the Kaukua target, which is situated in the northern part of the LK project. These results have extended the strike of the known mineralization 150 metres to the west. Assay results have been returned for the first five drill holes of the 2011/2012 phase V drill program at the Kaukua target. To date, a total of 15 holes have been geologically and geotechnically logged with zones of potential mineralization selected for sampling and assaying. Prior to the beginning of the phase V drill campaign, Kaukua had a total of 50 holes drilled by Nortec Minerals Corp. between 2007 and 2009, and eight historic holes drilled by the Geological Survey of Finland (GTK). A portion of the current 10,000-metre drill program at LK has been designed to target the known 750-metre mineralized strike and downdip extension at Kaukua to upgrade the inferred mineral resource estimated by Watts, Griffis and McOuat (WGM) as part of the National Instrument 43-101 technical report submitted to Finore (see Finore news release dated Jan. 16, 2012, and summary at the end of this press release).

Finore's chief executive officer, Ian Laurent, commented: "The company is pleased to see the mineralization extends a further 150 metres to the west at Kaukua. We will continue to trace the mineralized horizon along strike to the west. These results also confirm the known grade and thickness of PGE-plus-gold-copper-nickel mineralization, and we can now trace the continuity of mineralization for over 900 metres of strike. It still remains open along strike to the west and downdip. Mineralization at the Kaukua zone is hosted within a 25-metre-thick cumulate pyroxenite and can be traced along a strike of 900 metres, down to a depth of 350 metres below surface. We look forward to receiving more results from Kaukua."

New drill results have been received for palladium, platinum, gold, copper and nickel for holes 51 through to 55 and are shown in the attached table. All previous drill results from Kaukua (including GTK drill holes) can be found on Finore's website. Nickel results are reported as 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 NI -- PHASE V DRILLING AT KAUKUA

Hole ID         From           To     Interval           Pd        Pt       Au  PGE plus Au     Copper    Nickel
                  (m)          (m)          (m)        (g/t)     (g/t)    (g/t)        (g/t)        (%)       (%)

KAU12-051     147.00       179.20        32.20         0.41      0.14     0.03         0.59       0.07      0.08
KAU12-051     182.85       191.00         8.15         0.36      0.13     0.03         0.52       0.10      0.05
KAU12-051     225.00       228.40         3.40         3.66      1.29     0.39         5.34       0.84      0.35
KAU12-052     157.30       176.10        18.80         1.30      0.43     0.12         1.85       0.23      0.14
including     158.00       163.00         5.00         1.82      0.59     0.13         2.54       0.30      0.19
KAU12-052     184.00       231.00        47.00         0.81      0.28     0.12         1.21       0.16      0.12
including     205.90       212.00         6.10         1.61      0.52     0.50         2.63       0.34      0.17
KAU12-052     233.00       236.00         3.00         0.83      0.29     0.14         1.26       0.24      0.06
KAU12-053     192.20       207.00        14.80         0.97      0.34     0.06         1.37       0.13      0.13
KAU12-053     212.00       261.55        49.55         0.75      0.28     0.07         1.10       0.15      0.10
KAU12-054     174.00       188.70        14.70         0.49      0.18     0.03         0.70       0.08      0.09
KAU12-054     191.00       210.00        19.00         0.63      0.22     0.05         0.90       0.13      0.09
KAU12-054     220.00       236.00        16.00         0.46      0.16     0.06         0.67       0.12      0.07
KAU12-054     250.00       254.00         4.00         0.69      0.25     0.04         0.98       0.06      0.05
KAU12-054     257.00       262.90         5.90         0.36      0.12     0.03         0.51       0.06      0.05
KAU12-055     169.00       174.70         5.70         0.37      0.13     0.05         0.55       0.17      0.10
KAU12-055     266.00       268.00         2.00         0.86      0.30     0.09         1.25       0.35      0.32

Notes: 
- Pd refers to palladium, Pt refers to platinum, Au refers to gold, Cu refers to copper, Ni refers to nickel, 
  g/t refers to grams per tonne.
- Lower cut-off grade equals 0.5 gram per tonne PGE plus gold; internal waste equals two metres.
- Hole HAU11-001 was not sampled.
- Based on current geological interpretation, results are true widths.

Results explained

The best results were returned from hole 52, which was drilled 100 metres to the west of the high-grade mineralized zone previously intersected in drill hole KAU09-020 in the western portion of the main Kaukua target area. The 2011/2012 drill program has been designed to target and test the downdip and along-strike continuity of these thicker higher-grade mineralized zones encountered during earlier drill programs. The geological interpretation and model are constantly being updated to incorporate the new drill data, better defining the location and extent of these larger zones of higher-grade mineralization such as that which has been intersected in holes 52 and 53. The larger zones occur as embayment zones regularly along the known 900-metre strike at Kaukua.

The PGE and gold mineralization at Kaukua continues to be intimately associated with significant copper and nickel values. Mineralization is predominantly hosted in pyroxenite and gabbronorite phases of the marginal series of the Kaukua block, which makes up the Koillismaa layered intrusive complex (KLIC), near the footwall contacts of the Precambrian basement potassium-feldspar-rich and siliceous granites.

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 analyzed 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 is 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.

The company's quality assurance/quality control program includes the regular insertion of blanks, multiple certified assay standards and duplicate samples into the sample shipments. These quality control samples are inserted every 10 samples within every assay batch. Regular monitoring of these quality control samples is a critical part of the Finore's quality assurance/quality control protocols.

About 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 PGE-plus-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 WGM in November, 2011, and December, 2011, and filed on SEDAR on Jan. 24, 2012.

• Inferred mineral resource:
  • 19.6 million tonnes of 0.26 gram per tonne palladium, 0.09 gram per tonne platinum, 0.1 gram per tonne gold, 0.24 per cent copper and 0.15 per cent nickel (Haukiaho);
  • 8.5 million tonnes of 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 (370,998 ounces palladium, 130,311 ounces platinum, 84,770 ounces gold), 60,567 tonnes of copper and 38,703 tonnes of nickel.
• Indicated mineral resource (Kaukua):
  • 2.6 million tonnes of 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 (56,112 ounces palladium, 18,425 ounces platinum, 5,862 ounces gold), 4,429 tonnes of copper and 3,126 tonnes of nickel.

WGM have 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, Finland, and Ian F. Laurent, MSc (economic geology), MAIG (RPGeo), chief executive officer of Finore, are the persons responsible for initiating and guiding of the work programs on the LK project. Mr. Laurent, a qualified person as defined by NI 43-101, has reviewed and approved the contents of this news release.

We seek Safe Harbor.