Numine Resources Ltd. Updates Status of Qualifying Transaction to Acquire Sunset Cove Mining Inc.

NUMINE RESOURCES LTD. NEWS RELEASE 1575 Kamloops Street TSX Venture Exchange Vancouver, BC V5K 3W1 Trading Symbol: NMR.P

Numine Resources Ltd. Updates Status of Qualifying Transaction to Acquire Sunset Cove Mining Inc.

May 31, 2010 - Vancouver, BC – Numine Resources Ltd. (“Numine”), a capital pool company as defined under Policy 2.4 of the TSX Venture Exchange (the “Exchange”), wishes to provide an update to its previously announced acquisition of 100% of the outstanding securities of Sunset Cove Mining Inc. (“Sunset Cove”), a private mining company, intended to be Numine’s Qualifying Transaction (the “Transaction”) as that term is defined by the Policies of the Exchange.

About Sunset Cove

Sunset Cove is a private company incorporated under the Canada Business Corporations Act. Sunset Cove has one property under contract, the Carolay Poylmetallic Silver Property (the “Carolay Property”), and others in advanced negotiations.

The Carolay Property is located 320 km east of Trujillo at an altitude of 3,200 meters above sea level. It includes 7 mining rights totaling 2,747 hectares and its main attraction is the Carolay Vein.

An agreement to purchase 90% of the Carolay Property for USD$800,000 over 4 years has been entered into by a Peruvian subsidiary of Sunset Cove. The Carolay Property will be the Resulting Issuer’s principal property.

Sunset Cove is currently conducting a geophysics program on the Carolay Property and has spent approximately US $115,000 on carrying out topographic and MAG surveys, taking Spectometric readings and conducting lines of induced polarization. Details and the results of these efforts will be disclosed in the Technical Report which Sunset Cove has commissioned for the Carolay Property.

The Proposed Transaction

The Transaction will involve Numine acquiring all of the issued and outstanding securities of Sunset Cove by issuing one Numine security for each security of Sunset Cove outstanding. Numine, Sunset Cove and the shareholders of Sunset Cove will enter into a Share Exchange Agreement in connection with the Transaction.

Sunset Cove has recently closed private placements for aggregate gross proceeds of $1.61 million, issuing units at a subscription price of $0.10 per unit. Each unit is comprised of one common share and one warrant with each such warrant entitling the holder to acquire one additional share at an exercise price of $0.15 for 24 months. Sunset Cove is using the net proceeds from these financings to pay for the geophysics program described above and will be using the remainder for the recommended work program on the Carolay Property as well as for general corporate purposes. Sunset Cove currently has an aggregate of 24,100,001 common

• 2 -

shares and 16,100,000 warrants issued and outstanding. All of the warrants were recently issued pursuant to the private placements. Sunset Cove has not granted any incentive stock option awards.

Following the closing of the Transaction (“Closing”), Sunset Cove will become a wholly-owned subsidiary of Numine (upon closing, the “Resulting Issuer”) and, before giving effect to the Private Placement described see below, Sunset Cove shareholders will own approximately 83% of the Resulting Issuer.

The Financing

In addition to the funds raised privately by Sunset Cove since October of 2009, the Resulting Issuer intends to complete a financing concurrently with Closing. Sunset Cove has entered into an engagement letter with BayFront Capital Partners Ltd. (“Bayfront”) to raise a minimum of $3 million and a maximum of $4 million in conjunction with closing of the Transaction (the “Private Placement”). Units will be sold at a price of $0.25 per unit, and each unit will be comprised of one common share and one-half of one warrant, each whole warrant entitling the holder to acquire one additional common share at a purchase price of $0.30 for a 24 month period. Bayfront will receive broker warrants entitling it to acquire units equal to 8% of the amount of units sold in the Private Placement at an exercise price of $0.25 for a 24 month period (the units so acquired will have the same terms as those units sold to subscribers). It is intended that the Private Placement will be effected by way of subscription receipts into Sunset Cove, which upon Closing will result in subscribers obtaining securities of the Resulting Issuer.

The Resulting Issuer may pay finder’s fees on the Private Placement in accordance with the policies of the Exchange, and applicable securities laws.

Management

The current officers and directors of Numine, except Navin Varshney, intend to resign effective as of the Closing. The proposed board of directors of the Resulting Issuer upon Closing will be comprised of Lorne Woods, Marc Blais, Navin Varshney, Jason Mychasiw and André Godbout. The new management team will be lead by Lorne Woods as President and Chief Executive Officer, Marc Blais as Chief Operating Officer and Jacques Arsenault will be appointed as Chief Financial Officer. André Godbout and Alain Blais will also be involved as executive officers with the Resulting Issuer. Brief biographies for all of the above noted individuals were included in Numine’s news release of January 27, 2010. A brief biography of Mr. Mychasiw is included below:

Jason Mychasiw

Jason has been working in the Canadian financial community for the past six years in various positions with TD Commercial Banking and GMP Securities L.P. He started his career in Thunder Bay with TD Commercial Banking after graduating from Lakehead University with Honors in their Bachelor of Commerce program.

After three years he moved to Toronto in the National Accounts Department of the Diversified Industries Group working as an Associate and Analyst. In addition he completed Level III of the

• 3 -

Chartered Financial Analyst program in 2009. He worked for GMP in 2009 as a Mining Analyst in their Investment Banking Group at the headquarters in Toronto.

******************

Completion of the Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange requirements, majority of the minority shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Transaction and has neither approved nor disapproved of the contents of this press release.

For further information, please contact:

Numine Resources Ltd. Sunset Cove Mining Inc.

Navin Varshney, Chief Executive Officer Lorne Woods, President Telephone: (604) 251-6320 Telephone: (416) 900-2884 [email protected] [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.