MNO Meridian Mining UK Societas

Mano River Resources Inc. ("Mano" or "the Company") (TSX VENTURE:MNO)(AIM:MANA) - 

Mano River Resources Inc, the TSX-V and AIM-listed exploration and development
company focused on iron ore, diamonds and gold in west Africa, provides an
update concerning the investment in the Putu Range iron ore project in Liberia.


Further to the announcement on 24 October 2008, Mano and Severstal Resources,
the mining division of OAO Severstal, would like to confirm 'Closing of the
Agreement' on their joint operation of the Putu project. Financial, legal and
technical due diligence is substantially complete and Severstal Resources has
already advanced project funds, as per the facility in the agreement signed on
the 22 May 2008. The amount received by the Company on the 27 October 2008 was
the pre-agreed sum of US$1 million.


Completion of the deal is now formally set for 10 December 2008.

The amounts of the original agreement remain unchanged and on completion
Severstal Resources, through its wholly owned subsidiary, will take up its right
to become a 61.5% shareholder in the Company's iron ore subsidiary by investing
US$30M to advance the Putu iron ore project to a definitive feasibility study.
However, on completion, US$8.3 million will now be released to Mano with the
balance of US$4.2 million to be paid two years from the date of completion on
the 10 December 2010.

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