Mr. Gordon Leask reports

MANSFIELD CLOSES CDN$5,550,000 PRIVATE PLACEMENT

Mansfield Minerals Inc. has completed a non-brokered private placement for gross proceeds of $5.55-million through the sale of 13,875,000 units at a purchase price of 40 cents per unit. Each unit consists of one common share of the company and one non-transferable common share purchase warrant. Each warrant entitles the holder thereof to purchase one additional common share of the company at an exercise price of 60 cents per warrant share for a period of 24 months following the closing of the offering.

In connection with the offering, the company paid to finders at arm's length to the company total commissions, which the finders elected to receive by the issuance of a total of 469,250 units of the company, with each finder's unit consisting of one common share of the company and one non-transferable common share purchase warrant. Each finder's warrant entitles the holder thereof to purchase one additional common share of the company at an exercise price of 60 cents per finder's warrant share for a period of 24 months following the closing date. The finders also received non-transferable compensation options exercisable for a period of 24 months following the closing date, which allow the holders to acquire up to a total of 469,250 common shares of the company at an exercise price of 45 cents per finder's share. All securities issued in connection with the offering are subject to a hold period expiring on Feb. 13, 2013.

The net proceeds from the offering will be primarily used for further development of the Lindero gold project, which will include additional resource definition drilling at the Arizaro target located adjacent to the Lindero gold deposit, and for general working capital purposes.

We seek Safe Harbor.