NiMin Energy Corp. Announces Strategic Review

NiMin Energy Corp. (TSX: NNN.TO - News)(OTC.BB: NEYYF.PK - News)(OTCQX: NEYYF.PK - News) (the "Company" or "NiMin") today announced that its Board of Directors has approved a broad review of strategic alternatives aimed at maximizing shareholder value. To assist in the review process, NiMin has engaged Macquarie Capital as its financial advisor.

Based on the Company's current reserves, production and operations, the Company has concluded that the common shares of NiMin trade at a substantial discount to the net asset value of its underlying assets. The strategic review will evaluate the Company's current long-term business plan against a range of alternatives that have the potential to maximize shareholder value in the near-term. NiMin expects to consider and evaluate several alternatives, including strategic financing opportunities, asset divestitures, technology licensing agreements, joint ventures and/or a corporate sale, merger or other business combination.

NiMin's Chairman and CEO, Clancy Cottman, said, "Over the last few years, we have witnessed a renaissance of onshore drilling in the United States. This strategic shift to increased onshore exploration and production is a clear affirmation of our business plan and strategy. However, we strongly believe that our current share price does not reflect the value of our assets, and we are therefore conducting a thorough review to determine whether shareholder value can be maximized through alternative methods. NiMin is a great company with a solid portfolio of assets, valuable technology and reliable onshore operations."

Except as required by law, NiMin does not intend to disclose developments with respect to the strategic review process unless and until the Board of Directors has approved a definitive transaction or strategic option. The strategic review process has not been initiated as a result of any particular offer. The Company cautions that there are no guarantees that the strategic alternative review process will result in a transaction or, if a transaction is undertaken, the terms or timing of such transaction. While the process is underway, the Company does not intend or expect to disclose any developments regarding the process until, if ever, a definitive agreement is entered into or the Board determines to terminate the process.

About NiMin Energy Corp.

NiMin is a California-based independent oil and gas exploration and production company focused on the U.S. with principal operations in the Bighorn Basin of Wyoming, the San Joaquin Basin in California and South Louisiana onshore areas.

Cautionary Statements

This news release contains forward-looking statements and information ("forward-looking statements") within the meaning of applicable securities laws, including the implementation of NiMin's strategic plan. Although NiMin believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based upon currently available information to NiMin. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in forward-looking statements. Risks include, but are not limited to: the risks associated with the oil and gas industry (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price, price and exchange rate fluctuation and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. The risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in more detail in our Annual Information Form and other documents available at www.sedar.com and www.sec.gov. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release, and, except as required by applicable law, NiMin does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. NiMin undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of NiMin's financial or operating results or, as applicable, its securities.
Contact:

NiMin Energy Corp. - Investors
Jonathan Wimbish, CFA
Chief Financial Officer
+1 (805) 566-2900
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Sard Verbinnen & Co - Media
Dan Gagnier/Jared Levy
+1 (212) 687-8080