CIC earns interests in significant gold concession

For immediate release: 0700hrs 17 November 2010

CIC Mining Resources Ltd

("CIC Mining Resources" or the "Company")

CIC earns interests in significant gold concessions

CIC Mining Resources (AIM: CICR; CNSX: RRR, FSE: 31C), the consulting and advisory firm operating primarily in the mining and energy infrastructure sectors, is pleased to announce that it has entered into an agreement (the "Agreement") with Japanese Eco Energy Group's African subsidiary, Eco Project Company Limited ("Eco Energy") to provide various services with respect to gold exploration concessions in the Twangiza-Namoya gold belt, in the Democratic Republic of Congo (the "DRC").

Eco Energy has four gold exploration concessions (PR5886, PR6565, PR5277 and PR12102) covering a combined area of 1818 square kilometers in the Twangiza-Namoya gold belt located next to the Banro Corporation lease concessions.

Banro Corporation is a Canadian-based gold exploration and development company with four wholly-owned properties, each with mining licences, along the Twangiza-Namoya gold belt in the DRC. Banro Corporation has to date identified 6.72 million ounces of measured and indicated resources, plus inferred resources of 4.46 million ounces.

Under the Agreement, services provided by the Company will include technical, legal, strategic and commercial advice, as well as aiding in the selection of other suitable third party advisers where needed. The Company will also assist in introducing leading Chinese gold miners to build and fund the project.

To fast track Eco Energy's gold leases to production, CIC Mining Resources has already introduced a leading private oxide gold miner in China to fund the exploration and development of the mine, including the necessary infrastructure, and put the four gold concessions into production. The financing arrangement is subject to both parties agreeing and executing definitive documentation.

Under the terms of the Agreement, CIC Mining Resources now holds a 48 per cent interest in Eco Energy and has the exclusive right to facilitate a future public listing.

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Eco Project Company Limited

Eco Energy provides large-scale power generators to Democratic Republic of Congo in return for mineral concessions in gold, iron ore, strategic metals and copper.

CIC Mining Resources Ltd

The Company is a consulting and advisory company, operating primarily in the mining and energy infrastructure sectors. The Company seeks to provide consulting and advisory services to entities operating at various stages of resource development, and the exclusive right to control the public listing process of any client company if the client company is an unlisted company.

Mining and energy infrastructure companies or projects will include those involved in the exploration for, and extraction of, base metals, precious metals, bulk commodities, thermal and metallurgical coals, industrial metals, hydrocarbons, renewables and new technologies, including single-asset as well as diversified natural resources companies.

The core services provided by CIC Mining Resources are: the Advisory Service which provides a range of technical, project management, strategic and commercial services; the Strategic Investment Service which helps companies source investment from industry partners for which the Company will typically receive an equity interest; and Advice on Listings where the Company helps the client realise value by listing on a Stock Exchange. www.cicresources.com

Forward-Looking Statements

This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with the Company's business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect management's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risk Factors" in the Company's Admission Document which can be found at the Company's profile on SEDAR www.sedar.com. The Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

Cautionary Statement

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