Patricia Mining Corp. Announces the Issuance of a $500,000 Convertible Debenture

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES.


Patricia Mining Corp. ("Patricia") (TSX VENTURE:PAT) announces the issuance of a
$500,000 convertible debenture. The convertible debenture bears interest at a
rate of 9% per annum and is due March 31, 2009. At the option of the holder, and
after six months the debenture becomes convertible into common shares at a rate
of $0.52 per share which is equal to a conversion rate of 1,923 shares per
$1,000 principal. During the first six months the Company may redeem the
debenture at 102% of the principal plus accrued interest. After six months the
Company may prepay any portion of the principal amount without penalty provided
conversion has not occurred. This transaction is subject to regulatory approval.


Patricia's main asset is a 45% interest in the operating Island Gold Mine
located near Wawa, Ontario. As of December 31, 2007 the mine had Proven and
Probable Reserves estimated to be 1,058,881 tonnes of ore at a grade of 8.39 g/t
for 285,536 ounces of gold. In addition the mine had Measured and Indicated
Resources totalling 192,422 ounces of gold and Inferred Resources estimated at
193,350 ounces of gold.


National Instrument 43-101 The reserve and resource calculation of the Island
Gold property as of December 31, 2007 was performed by Ms. Nicole Rioux, Geo.,
of Genivar, a qualified person under the terms of NI 43-101 and was supervised
by Mr. Jules Riopel, M.Sc. P. Geo., MBA, Director Geology and Exploration, an
employee of Richmont Mines Inc.


This release was prepared by management of the Company who takes full
responsibility for its contents. 


Some statements contained in this release are forward-looking and, therefore,
involve uncertainties or risks that could cause actual results to differ
materially. Such forward-looking statements include comments regarding mining
and milling operations, mineral resource statements and exploration program
performance. Factors that could cause actual results to differ materially
include metal price volatility, economic and political events affecting metal
supply and demand, fluctuations in mineralization grade, geological, technical,
mining or processing problems, exploration programs and future results of
exploration programs at the Island Gold Project, future profitability and
production.


The securities referred to herein have not been registered under the US
Securities Act of 1933 and may not be offered or sold in the United States or to
a US person absent registration or an applicable exemption from registration.

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