Mr. Douglas Mason reports

MAGNUM GOLDCORP INC. ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Subject to regulatory approval, Magnum Goldcorp Inc. intends to proceed with a non-brokered private placement to raise up to $150,000 by the issuance of three million units at five cents per unit. Each unit will consist of one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional common share for a period of two years at an exercise price of 20 cents.

Insiders may participate in the private placement. In addition, the company may pay finders' fees in cash equal to 7 per cent of the gross proceeds raised under the private placement and issue finder warrants equal to 7 per cent of the total number of units issued to subscribers introduced to the company by each such finder. Each finder warrant is exercisable for one share at 20 cents per finder warrant share for two years from the date of issuance.

All securities issued in connection with the private placement will have a four-month-and-one-day hold period in Canada from the closing of the private placement.

The company intends to use the proceeds from this private placement for general working capital purposes.

We seek Safe Harbor.