MBMI RESOURCES INC. ("MBMI" or the "Company") (TSX VENTURE:MBR) is pleased to
report on the six-month financial period ended July 31, 2008. Full financial
results may be found at www.sedar.com or the Company's website
(www.mbmiresources.com). A summary of the financial statements and highlights of
the period are as follows:


Highlights

- 65,562 Dry Metric Tonnes ("DMT") of nickel material shipped during the period
for proceeds of approximately US$6.6 million


- Small Scale Mine Operating Permits ("SSMO") extended enabling 200,000
additional DMT to be shipped within next two years from the Alpha property


- Mines Adjudication Board ("MAB") ruling in favour of MBMI and partners

- Subsequent to the end of the period, the Chinese metals market has reopened
and the Company has shipped approximately 80,000 Wet Metric Tonnes ("WMT") of
nickel material to various buyers in China and Japan


- Current finished nickel material inventory of 137,517 WMT ranging in grades
from 1.39% to 2.08% nickel


- Cash flow from nickel material sales continues to fund development activities
for the fiscal year to date without reliance on external financing


Long-Term Supply Agreements:

The Company has entered into negotiations with several major international
strategic partners who wish to secure long-term stable sources of raw material
supply. The negotiation of these long-term "framework" supply agreements is
ongoing. One of the Company's Philippine partners has negotiated several nickel
sales agreements for multiple nickel bearing materials ranging from 1.5% nickel
to greater than 2.3% nickel as pertaining to the Alpha property.


A total of 65,562 DMT was shipped during the period for total proceeds of
approximately US$6.6 million. The Company's proportionate joint venture share of
$3,953,418 was included in the interim statements as a deduction from mineral
properties and deferred exploration costs. Since the end of the period, the
Company has shipped approximately 80,000 WMT of nickel material to various
buyers in China and Japan.


Investment in Mineral Exploration and Development

The Company's share of total expenditures on mineral properties during the six
month period ended July 31, 2008 was $4,948,567. Overall, exploration costs paid
in the six month period are consistent with maintenance of the Alpha property
permits, drilling on the Alpha property, assaying and operation of the lab, as
well as wages for site personnel. Exploration costs also include the development
of an excavation pit, hauling to the stockyard of mineralized nickel material,
as well as crushing, drying, blending and sorting operations necessary for
direct shipping operations. Additional (shipping) expenses relates to the
charter of LCT/barges for the loading of nickel material, net of sub-let
revenues, payments to port authorities, freight and brokerage in respect of the
shipment of nickel material.


Development work in the period focused on development drilling, the construction
of the stockyard facilities, road widening and acquisition of movable and
crushing equipment. Development projects in progress include the building of
surface structures (staff housing), haulage road widening and new mine road
construction, and settling pond construction and maintenance.


Though most costs were incurred in respect of the Alpha property, the Company
also incurred property maintenance payments and accrued option costs for the
Samar and Olympic properties, and made advances in respect of pre-export
financing, exploratory and permitting expenses, secured by the nickel product
stockpiles, for a long-term purchase agreement for nickel material from a
project owned by unrelated interests on Dinagat Island, Philippines.


Full-Scale Mining Application:

During September, 2008, the Company's Philippine partners received a favourable
ruling from their appeal to the MAB of the Philippines Department of Environment
and Natural Resources related to the Alpha Property, Bethlehem Property, and the
two Rio Tuba Properties all located in the Province of Palawan.


The MAB ruling overturns a "status quo order" issued previously by a regional
Panel Of Arbitrators in 2007 (see news release November 27 2007) pursuant to a
challenge initiated by a 'shell company' known as Redmont Consolidated Mines
Corp ("Redmont"). The Company and its Philippine legal counsel maintained that
this challenge had no legal merit and was an attempt by Redmont and its backers
to illegally gain an interest in these projects. This ruling validates the
Philippine corporate ownership structure of MBMI and its Philippine partners and
confirms this structure is consistent with accepted practice in the Philippines
and is in compliance with the requirements of Philippine law.


MBMI's Philippine partners are working closely with the Philippine government to
complete the full-scale mining permit process; applications relating to the
Alpha property and three other Palawan nickel projects are currently advancing
through an approval process.


MBMI Resources Inc. is a Canadian-based mining company focused on the
exploration and development of nickel mineral properties in the Philippines.
MBMI and its Philippine partners have an interest in nine nickel laterite
projects in the Philippines, covering an area greater than 22,000 hectares.
MBMI's objective is to become a major supplier of high-grade nickel products to
primary industrial consumers in Asia.


ON BEHALF OF THE BOARD OF DIRECTORS

Michael T. Mason, President and Director

This news release may contain forward-looking information including but not
limited to comments regarding the timing and content of upcoming financings,
work programs, geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward-looking information includes disclosure
regarding possible future events, or conditions or results of operations that is
based on assumptions about future economic conditions and courses of action, and
therefore, involves inherent risks and uncertainties. Although management has a
reasonable basis for the conclusions drawn, actual results may differ materially
from those currently anticipated in such statements. At this time the Company
has not yet established NI 43-101 compliant mineral resources or mineral
reserves that would support a commercial mining operation.