Nitinat Minerals Announces Non-Brokered Private Placement and Updates $2 Million Financing

TORONTO, ONTARIO--(Marketwired - Aug. 7, 2013) -

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

Nitinat Minerals Corporation (TSX VENTURE:NZZ)(04U.F) ("Nitinat" or the "Corporation") would like to provide an update with respect to its previously announced brokered $2 million private placement.

The Corporation is pleased to announce that it intends to raise gross proceeds of up to $350,000 through a non-brokered private placement of up to 1,750,000 units (the "Units") of the Corporation at a price of $0.20 per Unit. Each Unit is comprised of one (1) common share and one half (1/2) of one 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.

With respect to the proposed brokered private placement of $2 million and further to its press release of July 8, 2013, the Corporation has not issued any securities pursuant to the brokered private placement and no closing date for such placement has been established.

Neither 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.

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.