Mr. Donald Moore reports

PLAYFAIR MINING LTD. ANNOUNCES PRIVATE PLACEMENT UNDER THE LISTED ISSUER FINANCING EXEMPTION (LIFE) AND SHARE CONSOLIDATION.

Playfair Mining Ltd. intends to conduct a non-brokered private placement, under the listed issuer financing exemption (LIFE) (as defined below), of up to 30 million units at a price of six cents per unit for gross proceeds of approximately $1.8-million. Each unit will consist of one postconsolidation (as defined below) common share of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one postconsolidation common share of the company at a price of 15 cents at any time on or before that date that is 24 months after the closing date of the offering. The net proceeds raised from the offering will be used for general working capital purposes and for exploration activities at the company's Golden Circle project in Nova Scotia.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106, Prospectus Exemptions, the offering is being made to purchasers resident in Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of NI-45-106. The securities offered under the LIFE will not be subject to a hold period in accordance with applicable Canadian securities laws. The company will file an offering document related to the offering that will be accessible under the company's profile on SEDAR+ and on the company's website. Playfair Mining prospective investors should read the offering document before making an investment decision. In connection with closing of the offering, the company may pay finders' fees to eligible third parties who have assisted with introducing subscribers to the offering. Closing of the offering remains subject to the approval of the TSX Venture Exchange and completion of the share consolidation.

In connection with the offering, the company also announces that the board of directors has authorized the company to complete a consolidation of the company's common share capital on a one-for-three basis. The company currently has 141,347,160 common shares outstanding and, following completion of the share consolidation but before completion of the offering, it is expected to have approximately 47,115,720 shares outstanding. Completion of the share consolidation remains subject to the approval of the TSX Venture Exchange.

About Playfair Mining Ltd.

Playfair is a Canadian-based resource company currently active at its Golden Circle project, a 76.47-square-kilometre area covering eight historic gold districts in Nova Scotia.

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