November 23, 2011

Edmonton, Alberta – Brilliant Mining Corp. (BLT: TSX-V) (the “Company” or “Brilliant”) is pleased to announce that it has received TSX Venture Exchange (the “TSX-V”) acceptance and has officially changed its name to Brilliant Resources Inc.  Shareholders approved a special resolution to effect the name change of the Company to “Brilliant Resources Inc.” at the Company’s Annual General and Special Meeting held on June 22, 2011.  Since the Company’s acquisition of Ivory Resources Inc. on May 11, 2011, the Company’s business and focus has changed to include exploration and potential development of hydrocarbon resources in addition to base and precious metal resources.

Trading under the new name “Brilliant Resources Inc.” will commence on the TSX-V at the opening of trading on November 24, 2011 under TSX-V symbol “BLT” (CUSIP 109541102; ISIN CA 1095411023). 

About Brilliant Resources Inc.

BRILLIANT RESOURCES INC. (BLT: TSX-V) is a well-funded exploration company in search of resource opportunities worldwide.  Leadership, collaboration and mutual benefit are our guiding principles.  Brilliant is currently pursuing an innovative growth strategy in West and Central Africa, whereby it recently acquired exclusive preferential rights to explore for resources in Equatorial Guinea in exchange for the delivery of a national airborne geophysical survey. Driven by an internationally experienced technical and management team, along with a newly - financed treasury, Brilliant is well-positioned for the discovery and development of high quality mineral and hydrocarbon prospects.

On behalf of the Board of Directors

“John Williamson”

John Williamson, P. Geol.

CEO, President & Director
Brilliant Resources Inc.

For further information about Brilliant Resources Inc. or this news release, please visit our website www.brilliantresources.com or contact:

Brian Budd
Director of Corporate Development
Toll Free: 1-888-331-2269
Tel: 604-697-2861
Email: info@brilliantresources.com

Neither the 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.

Caution concerning forward-looking information

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Brilliant in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Brilliant's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.

Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; fluctuations in foreign exchange rates; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Brilliant disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.

Brilliant CEO, John Williamson, stated, “We consider EG to be a rich geological environment with a clear political mandate to diversify its economy beyond off-shore petroleum by 2020. We are pleased to be a partner of choice for this ground breaking endeavor and look forward to developing a long and fruitful relationship between EG and our investors. After an extended period of data collection, the preliminary results are encouraging and we are now turning our attention to processing the data, prioritizing targets and exercising our exclusive rights in EG in order to commence ground exploration early in 2012.”

Brilliant expects that survey flights will be completed by November of 2011 and the Company will then compile and analyze results to deliver a report to the Government of EG on the geological potential of the country in exchange for exclusive rights to select mineral and/or hydrocarbon targets resulting from the survey for further exploration and development. 

Flight production since January 2011 has averaged between 200 and 300 line kilometres per day due to weather delays typical of the equatorial west-coast rainforest.  With the rainy season coming to a close in EG, daily flight production is expected to improve through completion of the remaining 13,000 line kilometres, which will cover approximately half of the most prospective terrane based on the locations of the known mineral occurrences. 

The territory of Equatorial Guinea includes the islands of Bioko, Annobon, Corisco, Elobey, and Mbane, and the mainland enclave of Rio Muni, which is bordered to the north by Cameroon and to the south and east by Gabon. The total surface area of the country is 28,051 km², with mainland Rio Muni accounting for approximately 26,000 km².  Beyond its oil and gas potential, the Rio Muni offers the wide variety of largely untested mineral potential that is expected on an Archaean cratonic setting with later Pan-African overprinting; with possibilities for gold, diamonds, columbo-tantalite, platinum-group elements, bauxite and base metals.

Brilliant has commenced detailed processing, geological interpretations and target generation for areas over which the survey has been completed.  It will take several months to complete this process due to the sheer scale of the project. However, the initial data quality from the survey appears good, and will improve with additional processing and interpretation. The resulting data sets are many times higher resolution than the historical data and have already shed light on known occurrences as well as identified new areas of potential.

About Equatorial Guinea

The Republic of Equatorial Guinea is the only Spanish-speaking country in Africa, and one of the smallest nations on the continent. In the late-1990s, American companies helped discover the country's oil and natural gas resources, which only within the last five years began contributing to the global energy supply.  The United States has become the largest cumulative bilateral foreign investor in EG, which supplies 17% of US natural gas, with investments estimated at over $12 billion. With its newfound petroleum wealth, Equatorial Guinea is now working to serve as a pillar of stability and security in its region of West Central Africa.

President Teodoro Obiang Nguema Mbasogo is Chairman of the African Union and the capital city Malabo is the home of the Community Parliament of CEMAC, the Economic Community of Central African States. The country hosted the 2011 Summit of the African Union and substantial investment is being made to improve infrastructure and the standard of living throughout the country, including highways, electricity networks, potable water, sanitation, and schools. Infrastructure projects and constitutional reform are part of the government's multi-year Horizon 2020 development plan, put in motion by President Obiang, which strives to make Equatorial Guinea an emergent and sustainable economy by 2020. For more information, visit www.guineaecuatorialpress.com .

About Brilliant Mining Corp.

BRILLIANT MINING CORP. (BLT: TSX-V) is a well-funded exploration company in search of resource opportunities worldwide. Brilliant is currently pursuing an innovative growth strategy in West and Central Africa, whereby it recently acquired exclusive preferential rights to explore for resources in Equatorial Guinea in exchange for the delivery of a national airborne geophysical survey. Driven by an internationally experienced technical and management team, as well as a newly ­financed treasury, Brilliant is well positioned for the discovery and development of high quality mineral and hydrocarbon projects.  

On behalf of the Board of Directors

"John Williamson"       

John Williamson, P. Geol.
CEO, President & Director
Brilliant Mining Corp.

For further information about Brilliant Mining Corp. or this news release, please visit our website www.brilliantmining.com or contact:

Brian Budd                         
Director of Corporate Development                    
Toll Free: 1-888-331-2269
Tel: 604-697-2861                   
Email: info@brilliantmining.com      

Brilliant Mining Corp. is a member of the Discovery Group of Companies, for more information on the group visit www.discoveryexp.com.

Neither the 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.

Caution concerning forward-looking information

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Brilliant in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Brilliant's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.

Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; fluctuations in foreign exchange rates; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Brilliant disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.  

Private Placement

The Company has closed a private placement (the "Private Placement") of an aggregate of 85,185,169 units of the Company (a "Unit") at $0.27 per Unit for gross proceeds of $23,000,000. Each Unit consists of one common share of the Company (a "Common Share") and one Common Share purchase warrant of the Company (a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share (a "Warrant Share") upon the payment of $0.45 per Warrant Share at any time until 24 months following the date of issuance.

Units for Debt Transaction and Share Exchange Agreement

Instead of investment by way of subscribing for Units, certain investors directly advanced funds to Ivory by way of loan pursuant to loan agreements with Ivory. Upon closing of the Transaction, shares in Ivory were issued for forgiveness of such loans and the shares in Ivory were subsequently exchanged for Units.

Pursuant to a Share Exchange Agreement dated May 3, 2011 among Brilliant, BTR Strategic Growth Fund Limited ("BTR"), Salida Strategic Growth Fund ("Salida"), Salida Capital L.P. ("Salida L.P."), Lionhart Trading Company Ltd. ("Lionhart") and Ivory (the "Share Exchange Agreement"), the Company purchased all of the issued and outstanding shares of Ivory in exchange for 740,741 units of the Company issued to BTR, 1,111,111 Units issued to Salida, 3,703,703 Units issued to Salida L.P. and 1,851,851 Units issued to Lionhart (collectively, the "Share Exchange Units"). The Share Exchange Units issued to the shareholders of Ivory reflect the intrinsic value of Ivory in the amount of $2,000,000.

Other Agreements

Pursuant to a Settlement Agreement dated April 28, 2011 among Brilliant, Sillenger Exploration Corp. ("Sillenger") and other parties with respect to securing the rights to the Survey, the Company issued 7,407,407 Units to Sillenger and 3,703,704 Units (the "Development Trust Units") to a trust company which will distribute the Development Trust Units to parties who have assisted with the Transaction.

Pursuant to a Compensation Agreement dated April 8, 2011, the Company issued 740,740 Common Shares at a deemed value of $0.27 per Common Share to an arm's length individual for the individual's assistance in putting the Transaction together.

Pursuant to a separate Compensation Agreement dated April 8, 2011, the Company paid $75,000 to Stonecap Securities Inc. for its assistance in putting the Transaction together.

Pursuant to a Finder's Fee Agreement dated April 8, 2011, the Company paid $150,000 and issued 1,111,111 Common Shares at a deemed value of $0.27 per Common Share to Cornerstone Asset Management L.P. for its assistance in finding and introducing the parties involved in the Transaction.

Corporate Name Change

Subject to approval by the shareholders of Brilliant, Brilliant will change its name to Brilliant Resources Corp. or such other name as may be deemed appropriate and approved by regulators upon completion of the Transaction. Salida will also appoint two directors to the board, the chair of the Audit Committee and the chair of the Compensation Committee of Brilliant.

Risk Factors

Brilliant operates in the Republic of Equatorial Guinea and, as such, the Company's operations are exposed to various levels of political, economic, regulatory and other such risks and uncertainties such as uncertainty regarding enforceability of contractual rights and judgments; restrictions on foreign exchange and repatriation and governmental regulations that favour or require the awarding of contracts to local contractors or require foreign contractors to employ citizens of, or purchase supplies from, a particular jurisdiction.

An investment in securities of Brilliant involves risk and must be considered speculative.

About Brilliant Mining Corp.

Brilliant Mining Corp. is a two-time TSX-Venture Top 50 award winning resource Company in search of undervalued resource opportunities. Brilliant's internationally experienced technical team and Board of Directors aim to leverage their broad range of expertise to acquire and develop high quality, advanced stage mineral projects.

On behalf of the Board of Directors

"John Williamson"
John Williamson, P. Geol.
CEO, President & Director
Brilliant Mining Corp.

For further information about Brilliant Mining Corp. or this news release, please visit our website www.brilliantmining.com or contact:

Brian Budd
Director of Corporate Development
Toll Free: 1-888-331-2269
Tel: 604-646-4525
Email: info@brilliantmining.com

Brilliant Mining Corp. is a member of the Discovery Group of Companies, for more information on the group visit www.discoveryexp.com.

Closing of Private Placement

Brilliant has closed a private placement of units of Brilliant (the “Units”) at CDN$0.27 per Unit (the “Private Placement”), subject to final TSX-V approval.  Each Unit consists of one common share of Brilliant (a "Common Share") and one Common Share purchase warrant of Brilliant (a "Warrant").  Each Warrant will entitle the holder thereof to acquire one Common Share (a "Warrant Share") upon the payment of CDN$0.45 per Warrant Share at any time until 24 months following the date of issuance.  Insiders of Brilliant have participated in the Private Placement.

The Private Placement was originally for up to 70,370,370 Units for gross proceeds of up to CDN$19,000,000.  The gross proceeds were intended to be used principally to fund an airborne geophysical survey (the “Aerial Survey”) being conducted by Ivory Resources Inc. (“Ivory”) in the Republic of Equatorial Guinea.

Certain investors originally planning to participate in the Private Placement have advanced funds directly to Ivory by way of loans instead.  The loans will be converted into shares of Ivory and subsequently exchanged for Units of Brilliant.  Such investors did not invest in Brilliant by way of the Private Placement.  Irrespective of whether investors participated by way of the Private Placement or by way of loan, there will be Units issued in exchange for $23,000,000 invested by investors as contemplated by the original Memorandum of Understanding as described in the December 2010 News Release.

Update on Acquisition of Ivory Resources Inc.

The TSX-V has conditionally approved Brilliant’s proposed acquisition of Ivory.  The Company is working on various acquisition agreements and should be in a position to close, subject to final TSX-V approval, in the next few weeks.

Ivory, through a wholly-owned subsidiary, has acquired an agreement with the government of the Republic of Equatorial Guinea (the “Government”) whereby Ivory will fund and conduct the Aerial Survey on behalf of the Government.  As compensation for financing the costs of the Aerial Survey, Ivory will have certain preferential rights to choose areas within the survey area (with the exclusion of any reserved areas of the State) to request mining and/or oil concessions for a period beginning from the initiation of the Aerial Survey and ending two months following conclusion of the data acquisition operations.

Once the Aerial Survey has been concluded and the data interpreted, such results will be delivered to the Government at which time Ivory will be in a position to exercise its preferential rights.

Fugro Airborne Survey Corp. (“Fugro”) has been contracted by Ivory to complete the Aerial Survey over the Rio Muni area of Equatorial Guinea defined geographically by the international borders with Gabon, Cameroon and the Atlantic Ocean. The Aerial Survey will consist of acquisition and analysis of magnetic, MEGATEM, and radiometric data along approximately 68,832 line kilometers at a line spacing of 400m. The survey will be conducted utilizing a specially modified Dash 7 aircraft at a nominal height of 120m above ground. It is estimated that the Aerial Survey will take 165 clear flying days to complete.

Fugro has commenced the Aerial Survey.  The aircraft and crew has been mobilized to Equatorial Guinea and is stationed in the city of Bata. To date 11,043 line kilometers or approximately 16% of the survey has been completed.

About Brilliant Mining Corp.

Brilliant Mining Corp. is a two-time TSX-Venture Top 50 award winning resource Company in search of undervalued resource opportunities.  Brilliant's internationally experienced technical team and Board of Directors aim to leverage their broad range of expertise to acquire and develop high quality, advanced stage mineral projects.
On behalf of the Board of Directors

“John Williamson”
John Williamson, P. Geol.
CEO, President & Director
Brilliant Mining Corp.

For further information about Brilliant Mining Corp. or this news release, please visit our website www.brilliantmining.com or contact:

Brian Budd
Director of Corporate Development
Toll Free: 1-888-331-2269
Tel: 604-646-4525
Email: info@brilliantmining.com

Brilliant Mining Corp. is a member of the Discovery Group of Companies, for more information on the group visit www.discoveryexp.com.

Caution concerning forward-looking information

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws.  This information and statements address future activities, events, plans, developments and projections.  All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information.  Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Brilliant in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant.  Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Brilliant’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.

Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; fluctuations in foreign exchange rates; as well as other risks and uncertainties  which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com.  Brilliant disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.

Neither the 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.

The proposed acquisition and placement transaction and related payments in aggregate will require the issuance of 101,851,851 common shares at a deemed value of $0.27 and cash payments of $225,000 for total consideration of $27,725,000. Units issued pursuant to the transaction include 92,592,592 warrants in aggregate, exercisable at a price of $0.45 within two years, for proceeds of approximately $41.7 million.

Proceeds of the private placement of up to $19 million are to be used principally to fund the airborne survey and for general working capital and business initiatives. The price per unit (consisting of one share and one warrant) is $0.27 with a warrant exercisable at a price of $0.45 per share within two years. The placement may include Insiders of the Company.

Pursuant to the MOU, the Company intends to acquire Ivory in exchange for $4 million in units of Brilliant at a deemed price of $0.27 per unit, based on cash invested in Ivory by Salida and others.  In addition, the Company has agreed to issue $2 million in units at $0.27 per unit to Salida as to 75% and to Lionhart Trading Company Ltd. as to 25% as part of the acquisition transaction of Ivory.

The Company has agreed to pay to Sillenger Exploration Corp. (OTCQB:SLGX) (OTCBB:SLGX) shares in the Company equal to a value of $2 million and based on a price of $0.27 per share which shares will be subject to escrow provisions.  In addition, the Company has agreed to issue shares of the Company valued at $200,000, which shares shall be subject to a two‑year escrow, to an individual for his efforts in assisting in putting the transaction together.

Cornerstone Capital Partners L.P. will be entitled to a finder’s fee in the amount of $150,000 cash and $300,000 payable in shares of the Company at $0.27 per share and such shares will be subject to a two‑year escrow period. The Company will also pay a finder’s fee of $75,000 cash to another individual.

Each party is to complete its due diligence on the project and a formal agreement is to be entered into with respect to the various matters involved in the transaction in the near future.

The Company has agreed to advance $1.5 million as an initial payment towards the costs of commencing the survey to be carried out by an independent geophysical contractor.  The Company currently has approximately $4 million in cash and approximately $7 million in cash equivalents and marketable securities.

The various agreements are subject to regulatory and shareholder approval.

About Brilliant Mining Corp.

Brilliant Mining Corp. is a two-time TSX-Venture Top 50 award winning resource Company in search of undervalued resource opportunities.  Brilliant's internationally experienced technical team and Board of Directors aim to leverage their broad range of expertise to acquire and develop high quality, advanced stage mineral projects.

On behalf of the Board of Directors

“John Williamson”   

                 
John Williamson, P. Geol.
CEO, President & Director
Brilliant Mining Corp.

For further information about Brilliant Mining Corp. or this news release, please visit our website www.brilliantmining.com or contact:

Brian Budd                         
Director of Corporate Development                    
Toll Free: 1-888-331-2269
Tel: 604-646-4525                   
Email: info@brilliantmining.com      

Brilliant Mining Corp. is a member of the Discovery Group of Companies, for more information on the group visit www.discoveryexp.com.

Neither the 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.