NZZ Nitinat Minerals Corporation

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES.


Nitinat Minerals Corporation ("Nitinat" or the "Company") (TSX
VENTURE:NZZ)(FRANKFURT:04U) is pleased to announce that it has entered into an
agreement with Jacob Securities Inc. ("Jacob") by which Jacob will act as agent
for the placement of 10 million units (the "Units") at a price of $0.20 per Unit
in the capital of the Company for gross proceeds of up to $2 million. Each Unit
is comprised of one (1) common share and one half (1/2) common share purchase
warrant (the "Warrant"). Each whole Warrant entitles the holder thereof to
purchase one (1) common share for a period of two (2) years from the date of
issuance. The Warrants are exercisable at a price of $0.25 per common share. 


In connection with the financing the Company will pay Jacob a fee of 6% of the
gross proceeds of the financing. In addition, the Company will issue Jacob
broker warrants (the "Broker Warrants") entitling Jacob to acquire such number
of Units equal to 6% of the aggregate number of Units sold at a price of $0.20
per Broker Warrant for a period of two (2) years from date of issuance.


Proceeds will be used by the Company for the continued exploration of the Jasper
Property and increased investment in Technoton LLC through the Company's wholly
owned subsidiary, Taman Petroleum Corporation. In addition certain amounts of
the proceeds will be used for general working capital purposes.


This update contains "forward looking statements" within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and applicable
Canadian securities legislation. Generally, these forward looking statements can
be identified by the use of forward looking terminology such as "plans",
"anticipated", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or state
that certain actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved". Nitinat is subject to significant
risks and uncertainties which may cause the actual results, performance or
achievements to be materially different from any future results, performance, or
achievements expressed or implied by the forward looking statements contained in
this release. Nitinat cannot assure investors that actual results will be
consistent with these forward looking statements and Nitinat assumes no
obligation to update or revise the forward looking statements contained in this
release to reflect actual events or new circumstances.


This news release does not constitute an offer to sell or a solicitation of an
offer to sell any of the securities in the United States. The securities have
not been and will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") or any state securities laws and
may not be offered or sold within the United States or to U.S. persons unless
registered under the U.S. Securities Act and applicable state securities laws or
an exemption from such registration is available.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Nitinat Minerals Corporation
Robert Maddigan
Director
416.216.0964
www.nitinatminerals.com

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