NIB Niblack Mineral Development

Niblack Mineral Developments Inc. (TSX VENTURE:NIB) ("Niblack") is pleased to
announce that the TSX Venture Exchange (the "Exchange") has consented to a
reduction of the exercise price of certain of Niblack's outstanding share
purchase warrants ("Warrants") issued as part of the private placement which
closed on December 11, 2009. Warrants to acquire an aggregate of 3,933,700
common shares of Niblack ("Common Shares") currently exercisable at a price of
$0.65 per Common Share, will be re-priced such that they are exercisable at
$0.45 per Common Share.


In connection with the re-pricing, the Exchange has required that the forced
exercise provision of the Warrants also be amended. The Warrants will now expire
on December 11, 2014, unless the closing price of the Common Shares on the
Exchange is greater than $0.5625 for a period of 10 consecutive trading days
(the "Premium Trading Days"), whereupon the Warrants will expire if not
exercised within 30 days following 7 calendar day after the 10th Premium Trading
Day. No notice by Niblack is required to trigger the forced exercise.


An aggregate of 179,140 Warrants held by Insiders of Niblack will not be
repriced and will not be subject to the amended forced exercise provision.


About Niblack Mineral Developments Inc.

Niblack Mineral Development Inc. (TSX VENTURE:NIB) is an exploration and
development company whose principal asset is the Niblack advanced stage
copper-gold-zinc-silver project in southeast Alaska. This project is held by
Niblack Mineral Development Inc. (formerly CBR Gold Corp) and joint venture
partner Heatherdale Resources Limited, a Hunter Dickinson company with the right
to earn a 70% interest in the project. The property comprises a NI 43-101
compliant resource and contiguous land package comprising 3,300 acres with
excellent potential to expand the current resource base.


Niblack Mineral Developments Inc. is a member of the Discovery Group of
companies, for more information on the group visit www.discoveryexp.com.


On behalf of the Board Niblack Mineral Developments Inc.

John Williamson, President, CEO & Director

This release includes certain statements that may be deemed "forward-looking
statements". All statements in this release, other than statements of historical
facts, that address exploration drilling, exploitation activities and events or
developments that the company expects are forward looking statements. Although
the company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results or developments may differ
materially from those in the forward-looking statements. Factors that could
cause actual results to differ materially from those in forward-looking
statements include market prices, exploitation and exploration successes,
continuity of mineralization, uncertainties related to the ability to obtain
necessary permits, licenses and title and delays due to third party opposition,
changes in government policies regarding mining and natural resource exploration
and exploitation, and continued availability of capital and financing, and
general economic, market or business conditions. Investors are cautioned that
any such statements are not guarantees of future performance and actual results
or developments may differ materially from those projected in the
forward-looking statements. For more information on the Company, investors
should review the Company's continuous disclosure filings that are available at
www.sedar.com.

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