KAR Karmin Exploration Inc

Karmin Exploration Inc. (TSX VENTURE:KAR) ("Karmin") announced today that its
shareholders have approved the reverse take-over transaction and related matters
with Ignite Energy Resources Pty Ltd ("Ignite") previously announced on March
19, 2010 (the "Transaction"). The resolution approving the Transaction was
approved by over 98% of the votes cast by Karmin shareholders at the Karmin
special meeting, including over 79% of the votes cast by minority shareholders
as required by applicable securities law. 


Ignite has advised Karmin that approximately 99.3% of the issued and outstanding
ordinary shares of Ignite have been tendered to Karmin's offer and, accordingly,
Karmin has initiated the process of compulsorily acquiring the remaining
ordinary shares of Ignite.


The closing of the Transaction is expected to occur immediately following the
completion of a private placement of ordinary shares by Ignite, provided that
all of the conditions of the Transaction, including the final acceptance of the
TSX Venture Exchange ("TSXV") are satisfied or waived. Karmin intends to update
its shareholders when the closing of the private placement is determined.


Pursuant to the Transaction Karmin expects to acquire all of the issued and
outstanding ordinary shares of Ignite, including the ordinary shares issued
pursuant to the private placement, in exchange for the issuance by Karmin of its
common shares. Each ordinary share of Ignite will be exchanged for one common
share of Karmin. In connection with, and immediately prior to the completion of
the Transaction, Karmin will consolidate its current issued and outstanding
common shares on a 6:1 basis. 


About Karmin

The common shares of Karmin are listed on the TSXV and trade under the symbol
"KAR". The principal business of Karmin is to acquire and explore resource
properties. Karmin's main project is located at Aripuana, Brazil. Karmin owns
30% of the Aripuana zinc project, one of the largest undeveloped zinc projects
in Brazil. Aripuana covers a complete mineralized massive sulphide district,
with five areas of mineralization (Arex, Ambrex, Babacu, Massaranduba and
Mocoto) over a 25 kilometre strike length.


Certain statements included in this news release constitute "forward-looking
information" within the meaning of applicable securities legislation. Such
forward-looking information involves known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
Karmin to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking information.
Assumptions upon which forward-looking information related to the Transaction
are based include, without limitation, that the conditions to the completion of
the Transaction will be satisfied or waived. Many of these assumptions are based
on factors and events that are not within the control of Karmin and may not
prove to be correct. Factors that could cause actual results of Karmin to vary
materially from results anticipated by such forward-looking statements include:
the failure to complete a private placement on terms acceptable to Karmin,
Ignite and the TSXV; the acquisition of the remaining ordinary shares of Ignite
may be prevented or delayed if a shareholder of Ignite applies to an Australian
court for an order against the compulsory acquisition of its shares;; the
inability to obtain or meet conditions imposed by applicable regulatory
requirements relating to the Transaction; and the failure of either Karmin or
Ignite to satisfy the closing conditions set forth in the share exchange
agreement. All forward-looking information in this press release speaks as of
the date of this press release. Karmin does not undertake to update any such
forward-looking information, whether as a result of new information, future
events or otherwise, unless required by applicable law. Additional information
about these assumptions and risks and uncertainties are discussed in Karmin's
public filings with the Canadian Securities Regulators. These filings are also
available at Karmin's website at www.karmin.com.

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