MEN

MAGNUM ENERGY INC. (the "Company") (TSX VENTURE:MEN) is pleased to announce that
it has closed the second and final tranche of its private placement (the
"Private Placement") as announced in a news release dated May 28, 2010 and
amended on June 14, 2010. Pursuant to the second tranche of the Private
Placement, the Company has issued 750,500 Class A Voting common shares (the
"Shares") at a price of $0.40 per Share for gross proceeds of $300,200.


Finder's fees consisting of 6,860 broker warrants (the "Broker Warrants") and
$17,514 in cash were paid in accordance with the policies of the TSX Venture
Exchange. Each Broker Warrant will entitle the holder to purchase one Share of
the Company for a period of twelve months from the date of issuance at a price
of $0.40 per Share.


All securities issued pursuant to the second tranche of the Private Placement
are subject to a hold period expiring on or around November 29, 2010.


ON BEHALF OF THE COMPANY

Richard Nemeth, President

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