Dear Friends & Fellow Shareholders

Despite a very challenging year for world markets, and our sector in particular, Saturn has achieved some major accomplishments in the past twelve months.  Our Karolina coal discovery of 89 continuous meters is one of the thickest coal intercepts ever encountered in Canada and the discovery of a thick 7.5 meter coal seam 1.5 km from our Leif coal discovery are both exploration successes our team is rightly proud of for 2011.  Also, our new partnership with Jameson Resources of Perth, Australia, adds a very important element of coal exploration & development expertise to the Saskatoba coal field.  Lastly, Saturn's historic transaction with our First Nations partners and the founding of Inowending Exploration & Development Corp. is also a highlight of the year. 

As the Saskatoba coal field continue to grow in size and importance and Inowending grows as a unique First Nations owned resource company, our management team looks forward to another year of providing our shareholders with superior returns.

Please enjoy the following research notes which have been published in the last quarter and provide more detail about the above noted accomplishments as well as future milestones:

Nov 30, 2011 -

Nov 9, 2011 -

Nov 1, 2011 -

We wish you a very blessed season and happiness and prosperity in the New Year.

Kind Regards,

Stan Szary

President & CEO

Saturn Minerals Inc.