Mr. Ken Bates reports

CLINE MINING ANNOUNCES ENTERING INTO RECAPITALIZATION AGREEMENT

Cline Mining Corp. has entered into the definitive recapitalization agreement with Marret Asset Management Inc., as agent for the bondholders and standby purchasers party thereto. The transactions contemplated by the recapitalization agreement were disclosed by the company on Dec. 27, 2012. Pursuant to the recapitalization agreement, the company has filed a preliminary short form prospectus dated April 25, 2013, with respect to the rights offering and issuance of warrants to its shareholders, as described in greater detail in the preliminary prospectus. The preliminary prospectus is subject to review by the securities regulators in each province as well as the Toronto Stock Exchange (TSX). Both the recapitalization agreement and the preliminary prospectus are available on the company's reference page at the System for Electronic Document Access and Retrieval.

Additionally, the company announced that the TSX has granted an extension postponing the date of the listing committee hearing to June 25, 2013, to consider whether the company continues to meet TSX listing requirements. The continued listing of the company on the TSX is a precondition to completion of the transactions contemplated by the recapitalization agreement and the preliminary prospectus. The delisting review by the TSX of the company was announced on Jan. 9, 2013.

We seek Safe Harbor.