Rich Minerals Corporation - Rich well prepared to bid in ninth round

    CALGARY, Nov. 1 /CNW/ - Rich Minerals Corporation ("Rich" or the
"Corporation") whose common shares trade on the TSX Venture Exchange (the
"Exchange") under the symbol "RMC" wishes to announce that Mr. Gary Voncina is
no longer Vice President of the Corporation effective July 10, 2007. Mr.
Voncina uses the offices of the Corporation and continues and will continue to
advise the Company with corporate financing and potential deal structuring
solutions in an independent capacity.
    Mr. Voncina's option to purchase 300,000 common shares of the Corporation
at an exercise price of $0.16 is no longer in effect.
    Furthermore, the Corporation is pleased to announce that once again it
has qualified as an on-shore operator to bid on oil and gas concessions being
offered by the ANP in Brazil. Rich is well prepared and is hopeful it will
succeed in its bid attempt and be awarded additional lands for oil and gas
exploration in November.
    Brazil's supreme court (STF) has overturned the injunctions that were
blocking the eighth hydrocarbons exploration licensing round. Rich expects
that news will be forthcoming regarding the concession contracts for the
blocks awarded to Rich Minerals Corporation in the eighth round of bidding
held in November 2006.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

For further information:

For further information: please contact the following officer of the
Corporation: Debra Senger, Rich Minerals Corporation, 4100 - 6A Street N.E.,
Calgary, Alberta, T2E 4B1, Telephone: (403) 531-9100, Facsimile: (403)

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