Maxim Finskiy Acquires Additional Securities of Etruscan Resources Inc.

MOSCOW, RUSSIA, Jun 01 (MARKET WIRE) --
Maxim Finskiy ("Finskiy") announces that Finskiy has indirectly acquired
in a private placement transaction, for cash consideration of U.S.
$3,000,000 (Cdn.$3,336,000), beneficial ownership of a senior unsecured
convertible promissory note (the "Note") of Etruscan Resources Inc.
("Etruscan") in the principal amount of U.S. $3,000,000, together with
warrants (the "X Warrants") exercisable to purchase an aggregate of
4,630,760 common shares of Etruscan ("Common Shares") at a price of
$0.3602 per share until May 28, 2011 and a second tranche of warrants
(the "Y Warrants"), exercisable commencing November 24, 2009 until May
28, 2011, to purchase up to that number of Common Shares determined by
dividing the Canadian dollar equivalent of U.S.$1,500,000 determined one
business day prior to November 24, 2009 by the volume weighted average
trading price of the Common Shares on the Toronto Stock Exchange for the
five trading days immediately prior to November 24, 2009, which will also
be the exercise price of the Y Warrants. The Note bears interest at the
rate of 10% per annum and is repayable on May 28, 2010. If the Note is
not repaid on or before that date the Canadian dollar equivalent of the
unpaid principal amount of the Note plus accrued and unpaid interest will
be convertible thereafter into Common Shares at a conversion price of
$0.3602 per share.

As a result of the acquisition, Finskiy indirectly owns an aggregate of
26,315,789 Common Shares of Etruscan and 11,521,501 share purchase
warrants (including the X Warrants but excluding the Y Warrants, the
number of which is not determinable at this time). The Common Shares
currently owned by Finskiy represent approximately 16.5% of the issued
and outstanding Common Shares. Assuming the exercise of the warrants
owned by Finskiy (other than the Y warrants) and without giving effect to
the conversion of the Note Finskiy would own 37,837,290 common Shares or
approximately 22.2 % of the outstanding Common Shares. The Common Shares
issuable on exercise of the X warrants alone would represent
approximately 2.9% of the outstanding Common Shares.

Finskiy indirectly owns all the outstanding shares of 2190776 Ontario
Inc. ("Ontarioco"), which directly acquired the Note, X Warrants and Y
Warrants of Etruscan and currently owns all of the securities of Etruscan
beneficially owned by Finskiy.

The Note, X Warrants and Y Warrants were acquired for investment
purposes. Finskiy has not made any determination with respect to future
ownership of, or control over, any additional securities of Etruscan.
Finskiy may in the future acquire, directly or indirectly, additional
Common Shares or other securities of Etruscan in the market or through
private or other transactions, sell all or some portion of the shares of
Etruscan he owns or controls, or enter into derivative or other
transactions with respect to such shares.

Contacts:
LLC Intergeo
Voznesenskiy Pereulok 22, 125993 Moscow, Russia
+7495 725 5837

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