Mr. Stan Szary reports

SATURN MINERALS INC. CLOSES $495,000 FLOW-THROUGH PRIVATE PLACEMENT

Saturn Minerals Inc. has received TSX Venture Exchange approval and has completed a flow-through financing of 5.5 million flow-through units at a price of nine cents per unit. Each FT unit consists of one flow-through common share and 0.3636 non-flow-through share purchase warrant. Each FT warrant will entitle the holder to purchase one additional non-flow-through common share, exercisable at a price of 15 cents per share for a period of 18 months from the date of issue of the FT warrant. The FT shares will entitle the holder to receive the tax benefits applicable to flow-through shares, in accordance with provisions of the Income Tax Act (Canada).

The FT warrants are subject to an accelerated expiry if, at any time after an initial four-month hold period expires, the closing price of Saturn's common shares on the TSX Venture Exchange exceeds 20 cents for any 20 consecutive trading days, in which event the holder will be given notice that the warrants will expire 30 days following the date of such notice. The warrants may be exercised by the holder during the 30-day period between the notice and the expiration of the warrants.

All securities issued will be subject to a four-month hold period. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities. The company will pay a finder's fee of $29,700 to EMD Financial Inc. for its services in connection with the private placement.

Proceeds from the private placement will be used to advance Saturn's Saskatchewan oil and gas properties.