Tiomin Reports Second Quarter Financial Results

TORONTO, ONTARIO, Jul 30 (MARKET WIRE) --
Tiomin Resources Inc. ('Tiomin' or the 'Company') (TSX: TIO) reported its
results today for the second quarter ended June 30, 2009. Tiomin had a
strong cash position at the end of the quarter, with cash and cash
equivalents at $13.8 million. For the second quarter, Tiomin reported a
loss of $2.2 million or $0.00 per share, which was approximately $1.2
million worse than the prior period a year ago primarily due to a $1
million increase in professional fees and $188,000 in foreign exchange
losses.

"We continue to seek a company-making transaction consistent with our
strategy of marrying our strong cash position with producing or near
producing assets or particularly good quality late stage exploration
properties," said Robert Jackson, President and CEO of Tiomin. "The
recent settlement with Jaguar Financial Corp. removes a significant
barrier to a transaction and we are actively reviewing several
alternative deals" continued Mr. Jackson.

Results of Operations

(Expressed in thousands of Canadian dollars except share and per share
data)

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Three Three Six Six
months months months months
ended ended ended & ended &
June 30 June 30 at June 30 at June 30
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2009 2008 2009 2008
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Loss before interest and
amortization 2,029 1,034 3,553 2,112
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Loss before income tax 2,231 1045 3,878 2,018
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Loss per share $ 0.00 $ 0.00 $ 0.00 $ 0.00
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Total assets 56,272 61,268
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Working capital 15,005 24,398
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Mineral properties 9,680 9,680
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Deferred exploration and
development 27,046 27,046
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Share Capital:
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Outstanding (000's) 480,814 445,365
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Warrants (000's) 103,294 98,438
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Options (000's) 39,770 40,444
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Tiomin's consolidated financial statements and management discussion
and analysis (MD&A) for the second quarter ended June 30, 2009 will be
available shortly on the company website at www.tiomin.com and filed on
www.sedar.com.

Cash Flow and Liquidity

At June 30, 2009 the Company had a working capital surplus of
$15,005,000, including $13,834,000 in cash and equivalents, compared to
$19,964,000 in working capital at December 31, 2008. For the quarter
ended June 30, 2009, Tiomin used cash of $1,461,000 and $2,414,000 for
the same period in 2008. For the six months ended June 30, 2009, the
Company used cash of $5,466,000 and $5,699,000 for the same period in
2008.

Kwale Mineral Sands Project, Kenya

Jinchuan and Tiomin continue to work cooperatively to find a way to build
the Kwale project. The Government of Kenya ('GoK') has yet to complete
all the steps to allow the project to proceed and until all these steps
are completed Jinchuan will not sign the definitive agreement, which will
require Tiomin shareholder approval to proceed with the construction of
the Kwale project.

Jinchuan is currently covering most of the costs associated with the
Kwale project and readers should note that if the GoK fails to complete
all the required steps, or if Jinchuan and Tiomin are unable to reach a
definitive agreement based on the MoU signed on July 28, 2008, the Kwale
project may be further impaired which will require an adjustment to the
carrying value of the Kwale assets.

Jaguar Settlement

On July 22nd Tiomin announced that the Company, its current board of
directors, a former director, Freegold Ventures Limited and Kivu Gold
Corp. ('the Respondents') entered into a settlement agreement (the
'Settlement Agreement') with Jaguar Financial Corporation ('Jaguar') to
settle Jaguar's previously announced application to commence a derivative
legal action against the Respondents. Additional information regarding
the Settlement Agreement is included in the July 22nd press release and
the MD&A for Q2 2009 filed on SEDAR.

About Tiomin Resources Inc.

Tiomin Resources Inc. ("Tiomin") (TSX: TIO) is a mining company traded on
The Toronto Stock Exchange with a focus on the exploration and
development of base metals, precious metals, and titanium mineral sands
projects. Tiomin has significant funds available for its projects, a
strong management team, and a very experienced board. Tiomin's strategy
is clear: to create long term value by realizing a return on the
Company's current projects as well as seeking an accretive transaction
that marries Tiomin's cash with producing or near-producing assets.

To find out more about Tiomin Resources Inc., please visit the company
website at www.tiomin.com or review the documents filed on www.sedar.com.

Certain of the information contained in this news release constitute
'forward-looking statements' within the meaning of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements, including
but not limited to those respect to the prices of metals and minerals,
estimated future production, estimated costs of future production and the
Company's sales policy, involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance or
achievements of the Company to be materially different from any forecast
results, performance or achievements expressed or implied by such
forward-looking statements. Such factors include, among others, the
actual prices of copper and gold, the actual results of current
exploration, development and mining activities, changes in project
parameters as plans continue to be evaluated, as well as those factors
disclosed in the Company's documents filed from time to time with the
Ontario Securities Commission.

Contacts:
Tiomin Resources Inc.
Jim O'Neill
VP Corporate Controller and Investor Relations
416-350-3779, ext. 231
joneill@tiomin.com

Tiomin Resources Inc.
Bruce Ramsden
VP Finance and CFO
416-350-3779, ext. 232
bramsden@tiomin.com
www.tiomin.com

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