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File: 2012 Sep 7 NR - Private Placement.doc


Mansfield Announces Cdn$5,750,000 Private Placement
*NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR  FOR DISSEMINATION IN THE UNITED STATES*

VANCOUVER, CANADA (TSX Venture: MDR)  September 7, 2012

Mansfield Minerals Inc. (the "Company") is pleased to announce that the Company has obtained subscriptions for the com
--->pletion of a non-brokered private placement (the "Offering") for gross proceeds of $5,750,000 through the sale of 14,3
--->75,000 units (each a "Unit") at a purchase price of $0.40 per Unit.  Each Unit will consist of one common share of the
---> Company and one non-transferable common share purchase warrant (a "Warrant").  Each Warrant will entitle the holder t
--->hereof to purchase one additional common share of the Company (a "Warrant Share") at an exercise price of $0.60 per Wa
--->rrant Share for a period of 24 months following the closing of the Offering (the "Closing Date"). 

In connection with the Offering, the Company will pay to arm's length finders (the "Finders") a finder's fee equal to 
--->5% of the gross proceeds of the Offering, payable in cash or Units at the election of the Finders. In addition, the Fi
--->nders will receive finder's options (each, a "Finder's Option") exercisable for a period of 24 months following the Cl
--->osing Date to acquire such number of common shares of the Company (each, a "Finder's Share") as is equal to 5% of the 
--->number of Units sold under the Offering, at a purchase price of $0.45 per Finder's Share.

The Offering is subject to the acceptance of the TSX Venture Exchange. All securities issued in connection with the Of
--->fering will be subject to a hold period expiring four months and one day following the Closing Date. 

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

The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933
--->, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the accou
--->nt or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. reg
--->istration requirements. This release does not constitute an offer for sale of securities in the United States.

ON BEHALF OF THE BOARD OF DIRECTORS,

"Gordon P. Leask"

Gordon P. Leask, P. Eng.
President and CEO
For additional information
Gordon P. Leask, President and CEO
(604) 681-4462   www.mansfieldminerals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the 
--->TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note to US Inves
--->tors:  This news release may contain information about adjacent properties on which we have no right to explore or min
--->e.  We advise U.S. Investors that the SEC's mining guidelines strictly prohibit information of this type in documents 
--->filed with the SEC.  U.S. Investors are cautioned that mineral deposits on adjacent properties are not indicative of m
--->ineral deposits on our properties.  This news release may contain forward-looking statements including but not limited
---> to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of proper
--->ty titles, potential mineral recovery processes, the expected use of proceeds from the Offering, etc.  Forward-looking
---> statements address future events and conditions and therefore involve inherent risks and uncertainties.  Actual resul
--->ts may differ materially from those currently anticipated in such statements.