Mirabela mandates lenders for a US$260m financing for the Santa Rita nickel project


    Ordinary shares outstanding: 126,871,100

    PERTH, Western Australia, Jan. 9 /CNW/ - Mirabela Nickel Limited (TSX:
MNB, ASX: MBN) is pleased to announce that it has mandated BNP Paribas and
Credit Suisse to act as Joint Lead Arrangers of a debt financing facility of
up to US$260M for the construction and commissioning of the Santa Rita nickel
sulphide project.
    Due diligence and detailed documentation is now underway. The facility is
expected to be ready for drawdown by mid 2008.
    The financing is expected to provide the remaining funding required for
development of the Santa Rita Project, including construction costs and
working capital requirements.
    BNPP and Credit Suisse are leaders in emerging market financing and their
teams respectively bring a wealth of experience in mining & metals, financing
projects and Brazil specifically. They are complemented by two of the
strongest commodity derivative groups in the investment banking sector.

    Nick Poll
    Managing Director

For further information:

For further information: Nick Poll, Tel: +61-8-9324-1177, Fax:
+61-8-9324-2171, Email: info@mirabela.com.au

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Mirabela Nickel Ltd.

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