Minati Capital Corp. Provides an Update on Its Qualifying Transaction

409 Granville St., Suite 311 Vancouver, BC V6C 1T2

MINATI CAPITAL CORP. PROVIDES AN UPDATE ON ITS QUALIFYING TRANSACTION

December 17, 2010: Vancouver, B.C.: Minati Capital Corp. (TSX-V: MNN.P) (“Minati” or the “Company”) wishes to provide an update on its Qualifying Transaction announced on November 22, 2010, with respect to the option to acquire from Lateegra Gold Corp.(“Lateegra”) of up to a 75% interest in and to the Satterly Lake Property (the “Transaction”).

Change in Management of Resulting Issuer

On closing of the Transaction, the Company will appoint a new director, Robert Findlay, to join the Board.

Robert Findlay

Mr. Findlay is about to complete another CPC Qualifying Transaction with Auric Development Corp. (ARC.P with IPO in July 2008). He worked with Atlas Copco Construction & Mining from 1988 to 2004 serving roles in sales, business development, and management of heavy mining & construction equipment sales and service throughout Canada. Mr. Findlay has since been an independent consultant providing management consulting, corporate finance and business development services to public and private companies. Mr. Findlay has served on the boards of several private and public companies from incorporation to listing on the TSX Venture Exchange (the “Exchange”). Mr. Findlay is an honours graduate from Haileybury School of Mines (1987).

In addition, Robert A. Biagioni, currently a director, will be appointed Chief Financial Officer on the closing of the Transaction. Geoff Balderson will remain President, Chief Executive Officer, Secretary and a director of the Company.

Concurrent Private Placement

Concurrent with the closing of the Transaction, the Company will complete a private placement of up to 9,500,000 units (“Units”), for total gross proceeds of $820,000 (the “Private Placement”), as follows:

The Company will issue up to 8,000,000 Units at a price of $0.065 per Unit for gross proceeds of up to $520,000. Each Unit will consist of one common share (“Share”) and one-half of one warrant (“Warrant”), with each whole Warrant being exercisable into one additional Share (“Warrant Share”) for a period of five years from the date of issuance at an exercise price of $0.15 per Warrant Share.

The Company will also issue up to 1,500,000 Units at a price of $0.20 per Unit for gross proceeds of up to $300,000. Each Unit will consist of one Share and one-half of one Warrant, with each whole Warrant being exercisable into one additional Warrant Share for a period of five years from the date of issuance at an exercise price of $0.30 per Warrant Share. The Company will pay a commission equal to 8% of the gross proceeds raised by the sale of these 1,500,000 Units.

All securities will be subject to a four month hold period. Closing of the Private Placement is subject to the approval of the Exchange.

Grant of Stock Options

On completion of the Transaction and subject to the acceptance of the Exchange, the Company will be granting to certain current directors, the new director (Robert Findlay) and a consultant a total of 970,000 options, such options to be exercisable at a price of $0.20 per Share for a period of five years from the date of grant.

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Additional Terms

In addition to the terms of the option agreement between the Company and Lateegra, the Company has agreed to pay a finder’s fee up to the maximum amount allowable under the policies of the Exchange.

For further information contact:

MINATI CAPITAL CORP.

Geoff Balderson

President and Chief Executive Officer

Tel: (604) 602-0001 Fax: 604.488.0886 Email: [email protected]

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, 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 nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.