Mirabela Nickel Ltd is a mineral exploration company with a portfolio of prospective nickel and other base metal targets in Brazil. It is listed on the Australian Securities Exchange (ASX: MBN) and Toronto Stock Exchange (TSX: MNB).

Mirabela's lead project under development is Santa Rita - a disseminated nickel sulphide deposit in the state of Bahia. Production of nickel is targeted to commence in 2009. This is the largest nickel sulphide resource in South America and the largest greenfield nickel sulphide discovery in the world in the last 10 years.

The Company completed a positive bankable feasibility study in June 2007 and recently obtained US$183m in equity financing to develop the project.

It is planned to eventually increase throughput to 4.6 million tpa to produce 18,500 tpa (41 million lb) of nickel in concentrate.

Mining studies indicate a potential mill feed of:

• Measured and Indicated resource – 69.2 million tonnes grading 0.61% Ni (925 million lbs)
• Inferred resource – 6.8 million tonnes grading 0.53% Ni (79 million lbs)
• Indicative strip ratio 7.7:1

This indicates a mine life of 19 years for the Santa Rita project based on four million tonnes per annum throughput.

Brazil boasts a strong mining history, with outstanding geographical potential, excellent infrastructure and a supportive mining environment.