VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 6, 2011) -

NOT FOR DISTRIBUTION IN THE UNITED STATES

Module Resources Incorporated (News - Market indicators) ("Module" or the "Company") is pleased to announce that it has reached an agreement in principle with Century Mining Corporation ("Century") on a revised agreement for the purchase by Module of the Carolin Mine and associated Ladner gold properties and accompanying claims, subject to completion of the definitive agreement and approval by the TSX Venture Exchange. The land package comprises 158 mineral claims covering approximately 7,000 hectares (70 sq. kms.). The revised purchase and sale agreement replaces a more restrictive option agreement that Module signed with Century in October 2008.

Terms under the new purchase and sale agreement include:

• Consideration of $5,000,000 in cash plus 3,500,000 common shares of Module, to be paid or issued in installments over four years to Century for complete ownership of the property.
• Module will be given credit for previous cash payments totaling $60,000 in 2008 and 2009 and issuance of 1,000,000 shares in 2009.
• Upon signing of the agreement, Module will have deemed a 10% earned interest and will obtain an additional 40% earned interest upon completing cash payments totaling $2,500,000 by October 31, 2012.
• A 3% NSR royalty to Century, which may be repurchased by Module for $1,500,000 per 1%. The NSR will not apply to potential gold recovery from reclamation and reprocessing of the existing tailings impoundment.
• The back-in and joint venture rights of Century under the existing option agreement will be eliminated.
• Module will replace Century's $200,000 mine permit bond to the BC government by August 31, 2011.

Bruce Downing, President and CEO of Module, commented: "We are very pleased that we have reached an agreement in principle with Century whereby the original option agreement will be replaced by a purchase and sale agreement. Module's ownership of the Carolin Mine and Ladner gold properties will allow us to move forward with financing a major exploration and development program."

For further company and technical information, please visit the company's website at www.moduleresources.com.

The technical information contained in this release has been prepared by Bruce Downing, PGeo., a qualified person who is the president and CEO of the Company.

ON BEHALF OF THE BOARD OF DIRECTORS

Bruce W. Downing, M.Sc., PGeo., Hon.FEC, President & Chief Executive Officer

We seek Safe Harbor.

Caution concerning forward-looking information

This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.