About Morumbi Resources Inc.

Morumbi Resources Inc. is a publicly traded resource company with a producing light oil property in the McKinley Area of Northwest Alberta and mineral exploration operations in Papua New Guinea ("PNG") – The Popondetta Property; an early stage exploration property directly adjacent to a Vale JV, as well as a number of prospective mineral opportunities on the mineral rich Island of Bougainville. 

The Company's McKinley Property produces light oil from the Cadotte formation.  Morumbi's new 12-33 vertical well is the structurally highest well in the prolific water flood supported Cadotte D Pool, and is well positioned to access significant remaining up dip oil believed to be recoverable from the pool.  Production has continued to improve since being brought on stream in March 2010 but a larger than expected dump flood caused by the collapse of the original horizontal well drilled by prior operators, has made progress slower than originally anticipated.

Morumbi has begun exploration efforts on its Popondetta mineral exploration licenses (EL 1767 and EL 1649) which are surrounded by mineral licenses owned by Goldminex Resources Limited, a publicly traded Australian mineral company ( www.goldminex.com.au ) that has recently entered into a joint venture with Vale S.A., which has the right to earn a 51% interest in these offset licenses by committing to spend $U.S. 20 million (plus repaying $5 million in previous expenditures).  A great deal of exploration work has been completed by Goldminex on their properties adjacent to Morumbi.  Strong indications of mineral prospectivity that have come out of their program provides Morumbi with a great deal of encouragement as to the potential of its land situated in the Popondetta Area of the Owen Stanley Range, PNG.  Our exploration program is in progress with activities under way to refurbish and equip an existing field base camp from which our field exploration activities will be undertaken in the very near future.

Morumbi also continues to make progress in building relationships and establishing joint venture partnerships with various landowner groups on the Island of Bougainville.  In time the Company anticipates, in conjunction with our local partners, to make applications for mineral exploration licenses on its partners traditional lands.  Much work remains to be done but the mineral rich Island of Bougainville offers sufficient potential to warrant continued efforts to establish a significant base on the island.