RUG Rugby Resources Ltd

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICE OR
FOR DISSEMINATION IN THE UNITED STATES 


Rugby Mining Limited ("Rugby" or the "Company") (TSX VENTURE:RUG), is pleased to
announce that it has closed the non-brokered private placement announced
December 19, 2012 (the "Private Placement"). The Company has issued 10,000,000
units (the "Units") at a price of CAD$0.30 per Unit for gross proceeds of
CAD$3,000,000 (the "Offering"). Each Unit consists of one (1) common share, and
one (1) non-transferable share purchase warrant. Each share purchase warrant
entitles the holder thereof to purchase one (1) additional common share of the
Company for a period of three (3) years, at an exercise price of $0.40 per
common share for the first two (2) years and at an exercise price of $0.55 per
common share in the third (3) year from the closing date of the Offering. 


The Company intends to use the proceeds for its ongoing social and permitting
programs at Comita; exploration expenditures including drilling at Comita and
Mabuhay once the necessary permits are received and for additional working
capital. The Company expects to have the necessary permits to commence drilling
at Comita and Mabuhay late in 2013. In addition, the Company continues to
evaluate new opportunities with drill ready targets.


The Company will pay CAD$21,259 as finder's fees in connection with a portion of
the private placement. 


Three directors and one officer of the Company participated in the Private
Placement. 


All securities issued pursuant to the private placement are subject to a four
month hold period expiring on May 23, 2013.


About Rugby 

Rugby, with a treasury of $5.5 million, is an emerging mineral resource company
focussed on the discovery of large scale gold and copper porphyries and
epithermal gold-silver projects. The management team has a track record in the
successful exploration and development of major resource projects in different
mining jurisdictions. 


Mabuhay Project, Philippines: The Company holds an option to acquire up to 80%
of the Mabuhay project in Surigao Province. The Company considers the project to
have excellent potential for the discovery of both epithermal gold deposits and
gold-copper porphyry systems.


Comita Project, Colombia: Rugby holds an option to earn up to 60% of Comita, an
undrilled large scale porphyry copper-gold project in the western cordillera of
Colombia. The project was recognised during a joint German-Colombian government
sponsored exploration program over 20 years ago. No systematic exploration has
been conducted since that time.


Interceptor Project, Argentina: The Company holds an option to acquire 100% of
the Interceptor copper-gold project in Catamarca Province. The property is near
the Maricunga gold belt in Chile, an established mining district that hosts both
producing gold mines and advanced stage porphyry-type projects.


Hawkwood Project, Australia: Rugby holds an option to acquire 90% of the
Hawkwood project in Queensland. The property, covering 427 km2 is prospective
for gold, copper-gold and iron deposits. In January 2010, the Company entered
into an agreement with Eastern Iron Limited wherein that company can earn an 80%
interest in iron ore targets in the project area. To date Eastern Iron has
conducted several programs, including geophysical surveys and drilling.


For additional information you are invited to visit the Rugby Mining Limited
website at www.rugbymining.com.


RUGBY MINING LIMITED

Paul Joyce, President and CEO 

The securities to be issued in the offering have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "1933 Act") or
any applicable securities laws of any state of the United States and may not be
offered or sold in the United States or to, or for the account or benefit of,
U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the
United States absent registration or an applicable exemption from such
registration requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy any of the securities to be issued
in the offering, nor shall there be any offer or sale of the securities to be
issued in the offering in any jurisdiction, including the United States, in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such jurisdiction.


CAUTIONARY STATEMENT 

Certain of the statements made and information contained herein is
"forward-looking information" within the meaning of the British Columbia,
Alberta and Ontario Securities Acts. This includes statements concerning the
Company's plans at its projects, which involve known and unknown risks,
uncertainties and other factors which may cause the actual results, performance
or achievements of the Company, or industry results, to be materially different
from any future results, performance or achievements expressed or implied by
such forward-looking information. Forward-looking information is subject to a
variety of risks and uncertainties which could cause actual events or results to
differ from those reflected in the forward-looking information, including,
without limitation, the effect on prices of major mineral commodities such as
copper, gold and iron by factors beyond the control of the Company; events which
cannot be accurately predicted such as political and economic instability,
terrorism, environmental factors and changes in government regulations and
taxes; the shortage of personnel with the requisite knowledge and skills to
design and execute exploration programs; difficulties in arranging contracts for
drilling and other exploration services; the Company's dependency on equity
market financings to fund its exploration programs and maintain its mineral
exploration properties in good standing; political risk that a government will
change, interpret or enforce mineral tenure, environmental regulations, taxes or
mineral royalties in a manner that could have an adverse effect on the Company's
assets or financial condition and impair its ability to advance its mineral
exploration projects or raise further funds for exploration; risks associated
with title to resource properties due to the difficulties of determining the
validity of certain claims as well as the potential for problems arising from
the interpretation of laws regarding ownership of mineral properties in the
Philippines and in the sometimes ambiguous conveyancing characteristic of many
resource properties, currency risks associated with foreign operations, the
timing of obtaining permits to conduct exploration activities, the ability to
conclude agreements with local communities and other risks and uncertainties,
including those described in each of the Company's management discussion and
analysis including those contained in its year-end financial statements for the
year ended February 29, 2012 filed with the Canadian Securities Administrators
and available at www.sedar.com. 


In addition, forward-looking information is based on various assumptions
including, without limitation, assumptions associated with exploration results
and costs and the availability of materials and skilled labour. Should one or
more of these risks and uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from those
described in forward-looking statements. Accordingly, readers are advised not to
place undue reliance on forward-looking information. Except as required under
applicable securities legislation, the Company undertakes no obligation to
publicly update or revise forward-looking information, whether as a result of
new information, future events or otherwise. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Rugby Mining Limited
P. Joyce
President
604.688.4941 / Toll-free: 1.855.688.4941
604.688.9532 (FAX)
info@rugbymining.com
www.rugbymining.com

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