Kirrin Postpones Private Placement

Kirrin Resources Inc. (TSX VENTURE:KYM) today announced that it is postponing the non-brokered private placement announced on October 20, 2011.

Commenting on the announcement, Kirrin President and CEO, Derek Moran, said: "I believe investors expected this decision. Market conditions are more than unreceptive, one of Kirrin's advisors called them 'brutal'. We marketed the private placement as the first part of financing 10,000 metres of drilling across Kirrin's portfolio of two REE and two uranium projects in Canada. Indications of participation did not give the directors confidence that we could achieve that objective. Accordingly, we are postponing the private placement and subscriptions will be returned." Mr. Moran added that Kirrin would review its plans for 2012 and examine what options were available to maximise shareholder value. He noted that Kirrin had already renegotiated much of its 2012 work obligations under option agreements but acknowledged that a further liability could arise as it was now unlikely that the Company would meet its entire flow-through expenditure obligation during 2011. All continuing commitments and expenditures would be reviewed in order to conserve cash resources.

Kirrin operates two REE properties, Grevet in Quebec and Bottom Brook in Newfoundland, both of which have returned encouraging exploration results with REE grades exceeding 15% TREO, and two uranium projects, in the eastern Athabasca Basin in Saskatchewan and in southeastern Labrador. Kirrin is also conducting due diligence on two new projects, a HREE property in Europe and a further uranium property in the Athabasca Basin in Saskatchewan.

Additional information on Kirrin is available on Kirrin's web site at www.kirrinresources.com and on SEDAR at www.sedar.com.

Kirrin is a Canadian green energy company that explores for rare earth elements and uranium. In addition to its exploration activities, Kirrin utilises its management's broad industry and international experience in the identification of suitable rare earth elements and uranium companies and green energy assets for acquisition, merger, strategic partnership or joint venture. Its strategy is well defined: enhancing shareholder value by combining technical expertise, corporate development skills and professional management. Kirrin's shares trade on the TSX Venture Exchange under the symbol KYM.

Cautionary Statement