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Re: News Release - Thursday, January 10, 2008
Crowflight Secures $55 Million Debt Facility to Complete Bucko
Lake Nickel Mine Development
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CROWFLIGHT MINERALS INC. (Crowflight, the Company) (TSX Venture
Exchange: CML) is pleased to announce that it has obtained an offer for
up to Cdn$55 million in debt finance from RMB Resources Inc. (RMB) of
Lakewood, Colorado. RMB is arranging the finance as Agent for
FirstRand Ireland Plc, the Lender and underwriter of the debt finance
package.

The proposed $55 million facility will be used to finance the remaining
construction and start-up of the Bucko Lake Nickel Mine near Wabowden,
Manitoba. The proposed loan is subject to final approval by the
FirstRand Underwriting Committee among other conditions typical of a
facility of this nature. RMB is a well-known arranger and provider of
mining project finance. FirstRand is one of South Africa's most
prominent financial institutions. Auramet Trading, LLC of Fort Lee,
New Jersey is advising Crowflight on this transaction.

Mike Hoffman, Crowflight's President and CEO commented: "Securing this
debt facility is a critical step in bringing the Bucko Lake Nickel Mine
to fruition. By financing the remainder of this project by a debt
facility, rather than equity, we are utilizing the most capital
efficient means of financing that offers the least amount of dilution.
These funds will enable us to complete construction at Bucko and
commence production as planned by mid-2008."

The debt facility will be divided into three tranches. The first
tranche of $10 million is a secured loan with attaching warrants. The
term of the warrants is 36 months and the exercise price is to be
determined in the context of the market at the time of satisfaction of
certain condition precedents. The proceeds of the warrant conversion
are to be used to pay off the Tranche 1 debt facility.

The second bridge tranche is a $15 million short term secured loan,
which is to be repaid by drawing upon funds from the final tranche, a
senior, secured $45 million debt facility. The senior tranche of $45
million may be drawn once permits for Bucko are in place. In total,
this gives Crowflight access to $55 million to fund the Bucko Lake
Nickel Mine.

In addition, a total of one million warrants will also be issued with
an exercise price to be determined in the context of the market at the
time of satisfaction of certain condition precedents. The term of the
warrants is 24 months.



Crowflight Minerals Inc. (TSX-V: CML) is a Canadian junior mining
exploration and development company focused on nickel, copper and
Platinum Group Mineral ("PGM") projects in the Thompson Nickel Belt and
Sudbury Basin. The Company currently owns and/or has under option
approximately 800 square kilometres of exploration and development
properties in Manitoba and Ontario.

Crowflight's priority is to bring the Bucko Nickel deposit located near
Wabowden, Manitoba into production by mid-2008.

Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the
information in this press release constitutes "forward-looking
information" within the meaning of Canadian securities law. Such
forward-looking information may be identified by words such as "plans",
"proposes", "estimates", "intends", "expects", "believes", "may",
"will" and include without limitation, statements regarding approval
and finalization of the debt facility, the benefits of the facility,
availability of financing, construction and permitting timelines and
costs of timing of production. There can be no assurance that such
statements will prove to be accurate; actual results and future events
could differ materially from such statements. Factors that could cause
actual results to differ materially include, among others, metal
prices, competition, risks inherent in the mining industry, and
regulatory risks. Most of these factors are outside the control of the
Company. Investors are cautioned not to put undue reliance on
forward-looking information. Except as otherwise required by applicable
securities statutes or regulation, the Company expressly disclaims any
intent or obligation to update publicly forward-looking information,
whether as a result of new information, future events or otherwise.

The TSX Venture has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.

Further information is available on the Company's website at or
contact:

Mike Hoffman
President and CEO
Crowflight Minerals
Tel: (416) 861-2964

Heather Colpitts
Manager, Investor and Public Relations
Crowflight Minerals
Tel: (416) 861-5803

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Copyright (c) 2008 CROWFLIGHT MINERALS INC. (CML) All rights reserved.
For more information visit our website at http://www.crowflight.com/
or send mailto:info@crowflight.com
Message sent on Thu Jan 10, 2008 at 7:05:57 AM Pacific Time
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