Playfair Mining to Raise $3,000,000

Playfair Mining (TSX VENTURE:PLY) is pleased to announce that it will raise up
to $3,000,000 through a non-brokered private placement. The company will issue
up to 10,000,000 flow through common shares at a price of $0.30 per share. A
finders fee may be payable in accordance with TSX policy.


Proceeds from the financing will be used for the extensive drill programs
Playfair has currently underway at Grey River and Risby. The Risby project is a
large scheelite-bearing skarn deposit with an NI 43-101 compliant inferred
resource of 6,385,000 tonnes grading 0.46% tungsten trioxide (WO3) at a 0.2% cut
off. The planned 7,000 meter drill program at Risby is aimed at significantly
increasing the resource of contained tungsten.


The Grey River deposit is a high-grade, underground tungsten project with the
potential to become one of the next tungsten producing mines outside of China.
Current drilling is focused on the priority #10 Vein Zone, both below and on
either side of the current 43-101 compliant inferred resource (852,000 tonnes
grading 0.86% WO3 at a 0.2% cut off).  The #10 Vein is a typical high-grade
wolframite-quartz greisen vein deposit, with a roughly vertically oriented
tungsten enriched quartz vein that varies from 0.9 to over 4.3 metres wide
(averaging about 1.2 metres wide, based on underground mapping) that has been
traced for over a strike length of greater than 1,600 metres long.


Donald Moore, Playfair's Chairman and CEO states, "We are excited and confident
that the drill programs at Risby and Grey River will add considerably to our
already sizeable NI 43-101 compliant resources. This is a big part of our
strategy to move Playfair towards becoming one of the western world's next
tungsten producers, and is a major step in establishing Risby as a world class
tungsten deposit."


Playfair's Canadian Tungsten Deposits

Playfair owns four high-grade tungsten deposits, all in Canada. Two of the four
high-grade deposits (Lened and Clea) have significant historical resource
estimates that pre-date NI 43-101 but that have been delineated by well
established mining companies. The Grey River and Risby deposits have NI 43-101
Compliant Resource Estimates.  In addition, to these four deposits, Playfair has
the early stage but highly-prospective Granite Lake Molybdenum exploration
property. Playfair is very well positioned to benefit from the expanding global
demand for tungsten having four high-grade deposits, all located within Canada.




NI 43-101 Compliant Resource Estimates

---------------------------------------------------------------------------
Property Classifi-  Cut-off    Tonnes  Grade     Pounds     MTU's   Company
            cation    Grade            WO3 %        WO3
                       %WO3
---------------------------------------------------------------------------
Risby     Inferred      0.2 6,385,000   0.46 65,043,600  2,950,200  Wardrop
          Resource                                                     2007
---------------------------------------------------------------------------
Grey      Inferred      0.2   852,000   0.86 16,153,700    732,700  Wardrop
River     Resource                                                     2007
---------------------------------------------------------------------------

Historic Resource Estimates(i)

---------------------------------------------------------------------------
Property Classifi-  Cut-off    Tonnes  Grade     Pounds     MTU's   Company
            cation    Grade            WO3 %        WO3
                       %WO3
---------------------------------------------------------------------------
   Lened  Historic      0.4   737,000   1.14 18,523,050   840,200     Union
          Resource(i)                                               Carbide
                                                                       1986
---------------------------------------------------------------------------
    Clea  Historic      0.5   257,000   0.93  5,269,000   239,000    Placer
          Resource(i)                                                  Dome
                                                                       1980
---------------------------------------------------------------------------

(i) Estimates of tungsten resources are historical in nature, predate and
    are noncompliant with NI 43-101. Playfair is not treating the
    historical estimates as current mineral resources or reserves.
    Playfair has not undertaken any independent investigation of the
    resource estimates nor has it independently analyzed the results
    of the previous exploration work in order to verify the resources,
    and therefore the historical estimates should not be relied upon.
    However, Playfair believes that these historical estimates provide
    a conceptual indication of the potential of the occurrences and are
    relevant to ongoing exploration.



Michael Moore P.Geo is the Qualified Person who has reviewed the technical
information contained in this News Release on behalf of Playfair.



Visit our website at www.playfairmining.com for more information.

ON BEHALF OF THE BOARD

D. Neil Briggs, President and Director

No Stock Exchange has Approved or Disapproved the Information Contained Herein.

The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release.
Playfair Mining (TSXV:PLY)
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