MAGNUM ENERGY INC. (the "Company") (TSX VENTURE:MEN) is pleased to announce the
closing of its private placement (the "Private Placement") announced in its news
release dated November 18th, 2009. Pursuant to the Private Placement, the
Company issued a total of 2,912,285 flow-through shares (the "Flow-Through
Shares") at a price of $0.20 per Share for gross proceeds of $582,457.


Finder's fees of $35,974 were paid in accordance with the policies of the TSX
Venture Exchange. Additionally, 146,620 Finder's Warrants to acquire Class A
common shares of the Corporation at a price of $0.20 per share for a period of
one year were also issued.


All securities issued pursuant to the private placement are subject to hold
periods expiring between April 19 and April 30, 2012.


ON BEHALF OF THE COMPANY

Richard Nemeth, President