MEN

MAGNUM ENERGY INC. (the "Company") (TSX VENTURE: MEN) announces that further to its news release of May 28, 2010, the Company has amended the terms of its private placement. The financing will now consist of up to 3,750,000 Class A Voting common shares in the capital of the Company (the "Shares") at a price of $0.40 per Share, for gross proceeds of up to $1,500,000.

All other terms of the private placement remain the same.

ON BEHALF OF THE COMPANY

Richard Nemeth, President

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts: Magnum Energy Inc. Richard Nemeth President & CEO 604.669.3155 rnemeth@magnumenergyinc.com www.magnumenergyinc.com