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 April 08, 2004
1,250,000 Warrants Exercised

 MBMI RESOURCES INC. (MBR-TSXV) "MBMI" reports that a total of 1,250,000 common shares have been issued pursuant to the exercise of 1,250,000 warrants. Each warrant, originally issued as part of a private placement Unit offering on March 31, 2003, entitled the holder to purchase one common share for $0.15. MBMI has received total proceeds of $187,500.

MBMI also reports that Coniagas Resources Limited has withdrawn from the exploration earn-in as related to MBMI's Squall Lake, Manitoba gold project.

MBMI is a Canadian based mining exploration company focused on the acquisition, exploration and development of mineral properties. The Company has signed an agreement in principal pertaining to the Celestial Nickel laterite project in Palawan, Philippines, and holds the rights to three Canadian projects: the Squall Lake, Manitoba gold project; the Copper Prince property in Sudbury, Ontario; and the McMillan gold mine property in Espanola, Ontario.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

For further information, contact:

David G. Tafel - VP Corporate Development

Tel: 604-683-1991

Email: mbr@mbmiresources.com

Website: www.mbmiresources.com

You can view the Next News Releases item: Wed May 12, 2004, Drill Program Returns 7.91 G/T Gold Over 10.85 Meters

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