Saturn Minerals Inc. Arranges Financing With Loeb Aron & Company Ltd.

Mon May 12, 5:35 PM

Vancouver BC Canada, 5/12/2008 / FSC / - Saturn Minerals Inc. (TSX-V: SMI.V)("Saturn"), wishes to announce that Saturn has arranged a bought deal private placement financing with London-based Loeb Aron & Company Ltd. ("Loeb Aron & Co."). It has been agreed that the non-brokered private placement will consist of the issuance of 562,500 units at $0.32 per unit. Each of the units will consist of one common share and one-half of a non-transferable share purchase warrant ("warrant"). Each whole warrant will entitle the holder to purchase one additional common share of Saturn for a period of two years at a price of $0.35 per share. Saturn has agreed to pay a cash finder's fee to Loeb Aron & Co. of 5.75% of the proceeds raised and brokers warrants exercisable to purchase shares equal to 6.75% of the number of units subscribed for at an exercise price of $0.32 per share for a term of 24 months.

Loeb Aron & Co. is a London based firm specializing in mining finance authorized and regulated by the FSA and a Member of the London Stock Exchange and of Plus Markets.

Completion of this financing is subject to the delivery of definitive subscription agreements and TSX Venture Exchange acceptance. All of the securities issued pursuant to this offering will have a hold period expiring four months after the closing date.

Proceeds of this financing will be used for working capital and general corporate purposes.

ON BEHALF OF THE BOARD OF DIRECTORS s/"Mike Elson" President & Chief Executive Officer

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Contact:

Stan Szary (604) 685-6989 szary@telus.net

Saturn Minerals Inc. 600, 890-West Pender Street Vancouver, B.C. V6C 1J9 Tel: (604) 685-6989 Fax: (604) 687-1327 www.saturnminerals.com

Source: Saturn Minerals Inc. , TSX-V: SMI.V, www.saturnminerals.com

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