PLY Playfair Mining Ltd

Playfair Mining Ltd. (TSX VENTURE:PLY) is pleased to announce the results of the
updated NI 43-101 compliant Inferred Mineral Resource Estimate on its wholly
owned Risby Tungsten Deposit. The update was completed by PEG Mining Consultants
Inc. of Barrie, Ontario, who combined the 2008 drill results with Playfair's
earlier 2007 resource estimate.


The updated inferred resource reports a 37% increase over the 2007 Wardrop
Engineering resource. The 2009 study reports an inferred resource of 89.4
million pounds tungsten trioxide (8,537,000 tonnes at an average grade of 0.475%
WO3 at a 0.20% WO3 cutoff). The PEG Mining report also indicates an increase in
average deposit grade from 0.462 to 0.475 percent WO3.


Playfair Chairman Don Moore states, "We are elated that the NI 43-101 Compliant
Resource Estimate at Risby is 37% larger than our previous numbers, but even
more exciting is the untested surface gossan zone located an additional 750
metres on-strike to the north of the newly established deposit outline; which
implies that the current resource has significant upside expansion potential."




Inferred Tungsten Resources

             Cut-off Grade                     WO3%
                     % WO3       Tonnes       Grade   WO3 pounds         MTU
----------------------------------------------------------------------------
Wardrop 2007           0.2    6,385,000       0.462   65,043,600   2,950,200
----------------------------------------------------------------------------
PEG 2009               0.2    8,537,000       0.475   89,400,000   4,055,075
----------------------------------------------------------------------------
% change                            34%       2.81%          37%         37%
                               increase    increase     increase    increase
----------------------------------------------------------------------------

numerical rounding errors may occur



A cut-off grade of 0.2% WO3 was chosen based on the open pit cut-off grades for
Cantung in western Canada. The following table shows the 2009 resource
tabulation using various cut-off grades.




----------------------------------------------------------------
----------------------------------------------------------------
WO3%                                                   Contained
Grade Cut-Off                    Tonnes  WO3% Grade   WO3 pounds
----------------------------------------------------------------
greater than 0.4              4,736,400       0.615   64,264,800
----------------------------------------------------------------
greater than 0.3              6,620,275       0.540   78,792,100
----------------------------------------------------------------
greater than 0.2              8,537,000       0.475   89,400,000
----------------------------------------------------------------
----------------------------------------------------------------



The inferred resource estimate reported here was prepared by Pierre Desautels,
P.Geo, of PEG Mining Consultants Inc. ("PEG"), a Qualified Person as defined by
NI 43-101. PEG estimated the inferred resource according to CIM resource
categories in compliance with NI 43-101 guidelines. Data from various sample
types were used to create a three dimensional block model resource for the Upper
and Lower Skarns at Risby. The updated resource estimate added three new holes
to the NI 43-101 compliant resource authored by Mr. Pierre Desautels of Wardrop
(September 25th, 2007). The database now includes a total of 2,410 m of diamond
drilling completed by Playfair (2006 and 2008) and 6,650 m completed previously
by HudBay from 1971 to 1981 plus historic surface sampling.


The 2009 resource estimation was generated using an inverse distance squared
interpolation method with a nearest neighbour model used for validation. For the
treatment of outliers, PEG elected to retain the capping scenario implemented by
Wardrop in 2007. This consisted of no grade capping for the very restricted pass
one search ellipsoid, and then used a capped grade 2.50 WO3% for the subsequent
two passes. The methodology restricted the usage of the high grade outliers to
an area in very close proximity to their location, while preventing high grade
smearing in the remaining areas. The three-dimensional (3D) geological and block
model was updated using GEMS(C) software version 6.21. The block model matrix
size of five by five by two metres was retained to capture the low dip angle of
the deposit and the high/low grade areas of the veins. For 2008, rock densities
were determined for a representative number of samples by Eco Tech Laboratory
(Kamloops, BC) which was validated by field measurements on whole core, using
industry standard methods. A total of 18 determinations done in 2008 have been
added to the deposit database. The 2008 average value 2.92 g/cc obtained from
the measurements corresponded well with the bulk density of 2.91 used by Wardrop
in 2007. All drill holes are diamond drill core and were sampled and assayed at
an average 0.6 metre sample interval. A UV lamp was used to determine the
presence of scheelite prior to logging. New for 2008, a QA/QC program was in
place during the drill program, which included the insertion of tungsten sample
standards at regular intervals.


Playfair's wholly-owned Risby Tungsten deposit is a scheelite-bearing skarn
occurrence. The deposit is located approximately 55 kilometres west of Ross
River, Yukon, Canada and is underlain by lower Paleozoic sedimentary rocks that
have been intruded by Cretaceous age biotite-quartz monzonite. The intrusive
activity has produced skarn mineralization, principally tungsten skarn with
lesser copper and molybdenite metal enrichment. The principle tungsten target is
two tungsten skarn horizons, the upper and lower skarn horizons, both of which
occur close to and paralleling the quartz monzonite contact. 2008 drill holes 50
and 51 (drilled from the same site) are located about 220 metres north and along
strike of the limits of the 2007 Wardrop inferred tungsten resource. These two
holes are significant in that their notable tungsten intercepts demonstrate a
strong lateral or on-strike continuity of tungsten mineralization over a total
estimated strike length now exceeding 750 metres. Importantly, the property has
an untested surface gossan zone located an estimated 750 metres on-strike to the
north of the newly established deposit outline.


Michael Moore, P.Geo, is the Qualified Person who has reviewed the technical
information contained in this News Release on behalf of Playfair. The PEG
technical report will be posted on the Playfair website following receipt of the
final edition.


ON BEHALF OF THE BOARD

D. Neil Briggs, Director

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