Petromin Announces Private Placement

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./

VANCOUVER, Dec. 13, 2012 /CNW/ - Petromin Resources Ltd. ("Petromin",or the "Company") announces cancelling of 4,000,000 flow-through units (the "FT Units") at a price of $0.25 per FT Unit. In replacement, the Company will offer up to 8,500,000 FT units at a price of $0.12 per FT Unit. The offering of up to 5,000,000 non-flow-through units ("NFT Units") at a price of $0.10 per NFT Unit remains unchanged from the news announced on November 14, 2012.

Each FT Unit will be comprised of one flow-through common share (a "FTShare") of the Company and one-half of one common share purchase warrant.  Every whole Warrant will be exercisable into a common share (a "Warrant Share") in the capital of the Company at a price of $0.15 per Warrant Share until the close of business on that day that is one year after the date (the "Closing Date") of the Offering.

Subject to the approval of the TSX-Venture Exchange (the "TSX-V"), a finder's fee will be paid by the Company to certain finders, who are arm's length parties, for services rendered in introducing certain investors to the Offering.  The finder's fee will consist of a cash payment of 10% of the proceeds derived from the FT Units sold to purchasers introduced to the Company by the finders.

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities. All securities issued pursuant to the private placements will be subject to a four month hold period.

The proceeds from the Offering will be used to fund the acquisition of additional oil and gas lands and general working capital. The flow-through portion will be used to fund the drilling of additional exploration/development wells.

About Petromin Resources Ltd.

Petromin is progressive international petroleum and natural gas exploration and production Company listed Tier 1 on the TSX Venture Exchange. Petromin was ranked 24th of the Top 100 Fastest Growing Companies in BC by Business in Vancouver in 2009 based on a 704% revenue increase over the previous 4 years.

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.

SOURCE: Petromin Resources Ltd.

PETROMIN RESOURCES LTD.
1120-1090 W. Pender Street
Vancouver, B.C. V6E 2N7
Telephone: [phone]
Fax: [phone]
Attn: Ross Gorrell