Saturn Minerals Completes Private Placement

Saturn Minerals Inc. (TSX VENTURE:SMI)(FRANKFURT:SMK) ("Saturn" or the
"Company") is pleased to announce that further to the Company's news release
dated December 16, 2011, the Company received the approval of the TSX Venture
Exchange dated December 29, 2011 and closed its previously announced
non-brokered private placement (the "Placement") consisting of 2,500,000
flow-through units (the "FT Units") at a price of $0.20 per FT Unit for a gross
aggregate dollar value of $500,000. 


Each FT Unit consists of one flow-through common share (the "FT Share") and
one-half non flow-through share purchase warrant (the "Warrant"). Each full
Warrant entitles the holder thereof to purchase one non flow-through common
share at a price of $0.25 per share until December 29, 2012. If at any time
after a four-month hold period ending April 30, 2012, the closing price of
Saturn's common shares on the TSX Venture Exchange is greater than $0.35 for any
10 consecutive trading days, the Company may deliver a notice to warrant holders
that the Warrants will expire on the thirty-first (31) day following the date of
such notice and the Warrants may be exercised by the holder during this 31 day
period.


In connection with the Placement the Company paid a finder's fee of $9,800 and
issued 49,000 finder's compensation warrants. Each finder's compensation warrant
entitles the holder thereof to acquire one common share of the Company at a
price of $0.25 until December 29, 2012. 


All securities issued are subject to a four-month hold period ending April 30,
2012. 


Proceeds from the Placement will be applied to Saturn's coal exploration
drilling on the Company's Manitoba coal properties and the drilling of two
shallow exploration wells on the Company's Saskatchewan oil & gas properties.


About Saturn Minerals Inc.

Saturn Minerals Inc. (TSX VENTURE:SMI)(FRANKFURT:SMK) is a junior Canadian
energy & resources company advancing a portfolio of energy and resource assets
in Saskatchewan, Manitoba and British Columbia. The Company has made two
bituminous coal discoveries at its Saskatoba Project since 2009, including one
of the thickest coal seams encountered in Canada at 89 metres thickness. The
Company also has strategic ownership in Inowending Exploration & Development
Corp., a First Nations owned exploration & development company active in
Canada's prairie provinces.


To learn more, visit: www.saturnminerals.com.

On Behalf of the Board of Directors of SATURN MINERALS INC. 

Stan Szary, Chief Executive Officer

Saturn Minerals Inc. (TSXV:SMI)
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