CEE Centamin Plc

NOT FOR DISTRIBUTION IN THE UNITED STATES.

Module Resources Incorporated (TSX VENTURE:MLE) announces today that, subject to
regulatory approval, it has closed a non-brokered private placement of
flow-through shares previously announced on December 23, 2009.


The Company issued 450,000 flow-through shares at a subscription price of C$0.10
per share for proceeds of C$45,000. An officer of the Company subscribed for
50,000 shares. The Company had intended to raise C$100,000 in this private
placement. No finder's fees were paid. The securities issued under this private
placement will be subject to a four-month hold period.


The proceeds from the sale of the flow-through shares will be used to incur
Canadian Exploration Expenses ("CEE"), as defined in the Income Tax Act
(Canada). The Company will renounce such CEE to the subscribers effective for
the 2009 tax year. The funds will be used for drilling and grass roots
exploration on the Company's Ladner Gold Property in southern British Columbia.


About Module Resources

Module Resources' Ladner Gold Project includes the Ladner Mine (formerly called
the Carolin Mine that produced approximately 45,000 ounces of gold from
underground operations from 1982 - 84); Emancipation Mine (intermittent small
gold producer from 1916 - 41); Pipestem Mine (intermittent small gold producer
from 1935 - 37); and numerous gold prospects situated along the under-explored
Coquihalla Gold Belt. Based on historical exploration and development work in
1995 - 1996 and historical production records of the Carolin Mine, the Company
believes that there is potential to reopen the mine at some time in the future
if the exploration and development programs are successful and a positive
feasibility study is obtained given a favorable gold price.


On behalf of the board of directors,

Bruce W. Downing, M.Sc., PGeo., Hon.FEC, President & Chief Executive Officer

Caution concerning forward-looking information

This press release contains "forward-looking information" and "forward-looking
statements" within the meaning of applicable securities laws. This information
and statements address future activities, events, plans, developments and
projections. All statements, other than statements of historical fact,
constitute forward-looking statements or forward-looking information. Such
forward-looking information and statements are frequently identified by words
such as "may," "will," "should," "anticipate," "plan," "expect," "believe,"
"estimate," "intend" and similar terminology, and reflect assumptions,
estimates, opinions and analysis made by management of Module in light of its
experience, current conditions, expectations of future developments and other
factors which it believes to be reasonable and relevant. Forward-looking
information and statements involve known and unknown risks and uncertainties
that may cause Module's actual results, performance and achievements to differ
materially from those expressed or implied by the forward-looking information
and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are
not limited to the speculative nature of mineral exploration and development,
including the uncertainty of reserve and resource estimates; operational and
technical difficulties; the availability of suitable financing alternatives;
fluctuations in gold and other commodity prices; changes to and compliance with
applicable laws and regulations, including environmental laws and obtaining
requisite permits; political, economic and other risks; fluctuations in foreign
exchange rates; as well as other risks and uncertainties which are more fully
described in our annual and quarterly Management's Discussion and Analysis and
in other filings made by us with Canadian securities regulatory authorities and
available at www.sedar.com. Module disclaims any obligation to update or revise
any forward-looking information or statements except as may be required by law.

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