NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Confederation Minerals Ltd. ("Confederation") (TSX VENTURE:CFM) is pleased to
announce that it has entered into an agreement with a syndicate of underwriters
co-led by Cormark Securities Inc. and Fraser Mackenzie Limited and including
Casimir Capital Ltd. (collectively the "Underwriters") pursuant to which the
Underwriters have agreed to purchase 11,950,000 units ("Units"), each Unit to
consist of one common share (a "Common Share") and one half of one common share
purchase warrant (each whole warrant, a "Warrant"), to be issued from treasury
at a price of $0.67 per Unit and 2,500,000 common shares to be issued on a
flow-through basis ("Flow-Through Common Shares") from treasury at a price of
$0.80 per Flow-Through Common Share (the "Offering"). Each Warrant can be
exercised for up to sixteen months following closing of the financing to
purchase one Common Share at an exercise price of $1.00 per Common Share.


Confederation has also granted the Underwriters an option (the "Underwriters'
Option") to purchase up to an additional 1,792,500 Units, for additional gross
proceeds of approximately $1.2 million. The Underwriters' Option is exercisable
in whole or in part up until closing of the Offering.


The Offering is scheduled to close on or about March 3, 2011 and is subject to
certain conditions including, but not limited to, the receipt of all necessary
approvals, including the approval of the TSX Venture Exchange.


Proceeds of the Offering will be used to fund Confederation's exploration
program with gross proceeds from the sale of the Flow-Through Common Shares used
to fund ongoing exploration activities eligible for Canadian Exploration
Expenses which will be renounced in favour of the subscribers of the
Flow-Through Common Shares effective on or before December 31, 2011. The Units
and the Flow-Through Common Shares will be offered in all provinces of Canada on
a private placement basis.


The securities offered have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the United
States absent registration or applicable exemption from the registration
requirements. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful.


Reader Advisory:

This press release contains forward-looking statements and forward-looking
information within the meaning of applicable Canadian securities legislation
(collectively, "forward-looking statements"). Specifically, this press release
contains forward-looking statements relating to the use of proceeds of the
Offering, the renouncing of Canadian exploration expenses, the filing of the
short form prospectus and the closing date of the Offering. The forward-looking
statements are based on certain key expectations and assumptions made by
Confederation Minerals Ltd., including assumptions concerning the timing of
obtaining regulatory approvals and the state of the economy and the exploration
and production business, which expectations and assumptions management of
Confederation Minerals Ltd. believes to be reasonable at this time. Although
Confederation Minerals Ltd. believes that the expectations and assumptions on
which such forward-looking statements and information are based are reasonable
at the date of this press release, undue reliance should not be placed on the
forward-looking statements and information as Confederation Minerals Ltd. can
give no assurance that they will prove to be correct. Since forward-looking
statements address future events and conditions, by their very nature they
involve inherent risks and uncertainties. The closing of the Offering could be
delayed if Confederation Minerals Ltd. is not able to obtain the necessary
regulatory and stock exchange approvals on the timelines it has planned. The
Offering will not be completed at all if these approvals are not obtained or
some other condition to the closing is not satisfied. Accordingly, there is a
risk that the Offering will not be completed within the anticipated time or at
all. Additionally, the intended use of the proceeds of the Offering by
Confederation Minerals Ltd. may change if the board of directors of
Confederation Minerals Ltd. determines that it would be in the best interests of
Confederation Minerals Ltd. to deploy the proceeds for some other purpose. The
forward-looking statements contained in this press release are made as of the
date hereof and Confederation Minerals Ltd. undertakes no obligation to update
publicly or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, unless so required by applicable
securities laws.
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