/C O R R E C T I O N from Source -- Mirabela Nickel Limited



    In c3048 transmitted on Thursday, April 5, 2007, errors occured in the
    second and twelfth paragraphs. The second paragraph should have read "and
    90 weeks for the SAG mill" and under "Preliminary Capital and Operating
    Costs", "US$0.92" should have read "US$0.93". Corrected copy follows:

    Mirabela Nickel - Santa Rita Mill Order and Project Update

    /NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE OR
    DISTRIBUTION THROUGH ANY U.S. NEWSWIRE SERVICE./

    PERTH, Western Australia, April 5 /CNW/ - Mirabela Nickel Limited
("Mirabela") (TSX: MNB, ASX: MBN) is pleased to announce that the company has
awarded the contract for the purchase of the SAG Mill and Ball Mill for its
Santa Rita nickel sulphide project in Bahia State - Brazil, to Outokumpu
Technology Pty Ltd. The total value of the contract is US$20.96M.
    These two mills are the most substantial part of the long lead time
equipment items for the Santa Rita project and this timely award of the
contract to Outokumpu will significantly de-risk the implementation schedule
for the project. Expected delivery Ex Works is 85 weeks for the Ball mill and
90 weeks for the SAG mill, which is consistent with a schedule for
commissioning of the project in early 2009.
    Key long-lead time insurance spares including girth gears and motors for
both mills have been included in the order.
    The award of the mill purchase is the final step in a detailed evaluation
of the physical ore characteristics at Santa Rita as part of the Bankable
Feasibility Study, and a subsequent tender process and rigorous technical and
commercial evaluation of all proposals by Mirabela with the assistance of GRD
Minproc Ltd.
    Mirabela is very pleased to be working with Outokumpu on the
implementation of and commitment to this significant nickel sulphide project
in Brazil.

    Bankable Feasibility Study

    The Bankable Feasibility Study (BFS) is scheduled for final delivery in
May 2007. The Company believes that it now has adequate encouragement from the
BFS study to proceed with the mill order above.
    Most key technical areas of the study have been completed including
geology and initial resource estimation, flowsheet development, plant and
infrastructure design, tailings storage and management, geotechnical studies,
surface and groundwater management, logistics and infrastructure studies, site
power requirements, and taxation and commercial regime.
    Current BFS activity is focused on the completion of capital and
operating cost estimates, additional metallurgical testwork, finalization of
mine design and scheduling, and an updated resource estimated based on the
significant amount of additional infill drilling completed from October 2006
to present.
    Metallurgical variability testwork at bench-scale is underway to confirm
the expected metallurgical performance along the grade curve and within the
transitional (near surface) weathering zone of the deposit which will form the
basis for early production.
    An additional locked cycle test has returned excellent results for both
recovery and concentrate grade (Table).

    
          Table: Summary of the locked cycle test on representative
                               composite sample
                                (Test GS2763)

    -------------------------------------------------------------------------
    PRODUCT          WEIGHT        NICKEL       IRON         MgO      Fe:Mgo
                   kg      %      %   %dist   %    %dist   %    %dist
    -------------------------------------------------------------------------
    Rec Cleaner
     Con           58.4   2.92  14.9   68.6  26.3   12.7  8.60   1.21   3.06
    Calc'd Head  1998.2  100.0  0.63  100.0  6.07  100.0  20.8  100.0   3.06
    -------------------------------------------------------------------------
    

    Activities necessary for supporting the project construction stage have
commenced. In addition to the award of the mill tender, an additional tender
has been awarded for the detailed plant site geotechnical studies. This work
will commence in April 2007.

    Preliminary Capital and Operating Costs

    A preliminary prospectus has been filed with Securities Commissions in
various provinces with the exception of Quebec. in anticipation of the Company
raising equity for the Santa Rita project. This is accompanied by the release
of an updated 43-101 technical report prepared by RSG Coffey. This report
includes preliminary capital and operating cost estimates for the project.
    The capital estimate is US$223M which includes processing plant,
infrastructure, port faculties, EPCM, commissioning, first fills and spare
parts, and includes a contingency of 10%. The preliminary plant operating cost
is US$6.77 per tonne of ore treated. Mining costs are estimated at US$0.93 per
tonne of material mined or US$1.10 per tonne of material mined if a
consideration is made for the life of mine capital expenditure on an owner
mining fleet.
    These capital and operating cost estimates are of a preliminary nature
(+/- 30% level of accuracy) and will be subject to adjustment upon completion
of the Bankable Feasibility Study (+/-15% level of accuracy).
    Additional information relating to Mirabela is available on the company's
website at: www.mirabela.com.au.

    The information in this report that relates to Exploration Results,
Mineral Resources or Ore Reserves is based on information compiled by Nick
Poll, who is a Member of The Australasia Institute of Mining and Metallurgy.
Nick Poll is employed by Mirabela Nickel Limited.
    Nick Poll has sufficient experience which is relevant to the style of
mineralization and type of deposit under consideration and to the activity
which he is undertaking to qualify as a Competent Person as defined in the
2004 Edition of the 'Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserve' and a Qualified Person within the meaning
of Canadian National Instrument 43-101. Nick Poll consents to the inclusion in
the report of the matters based on his information in the form and context in
which it appears.

    There can be no assurance that the resources at Mirabela's projects will 
be increased as a consequence of the drilling results referred to herein.

    The securities referred to herein have not been registered under the US
Securities Act of 1933 and may not be offered or sold in the United States or
to a US person absent registration or an applicable exemption from
registration.





For further information:

For further information: Nick Poll, CEO and Managing Director,
Telephone: +61 8 9324 1177, Facsimile: +61 8 9324 2171, Email:
info@mirabela.com.au

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Mirabela Nickel Ltd.

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