Statement re RAB Special Sit.

17 Aug 2006 14:30

Thistle Mining Inc.17 August 2006 THISTLE MINING INC. Toronto, August 17, 2006. Alternative Monthly Report filed by RAB SpecialSituations (Master) Fund Limited Thistle Mining Inc. ("Thistle" or the "Company") (AIM:TMG) wishes to announcethat after discussions with RAB Special Situations (Master) Fund Limited ("Special Situations"), it was determined by the Company and Special Situationsthat the Alternative Monthly Report (the "Report") dated and filed by SpecialSituations on SEDAR (www.sedar.com) on August 10, 2006 was filed due to anadministrative error. The Report indicates that, as of August 10, 2006, Special Situations was theholder of warrants to acquire common shares of the Company. Thistle wishes toclarify that the noted warrants had been repudiated and terminated by order ofthe Ontario Superior Court of Justice dated February 4, 2005 as part of therestructuring of the Company under the Companies' Creditors Arrangement Act(Canada), which was completed on June 30, 2005. As of August 10, 2006 SpecialSituations does not hold any common shares or warrants to acquire common sharesof the Company. As at August 17, 2006, Thistle has outstanding 2,882,000 options to purchasecommon shares issued under the Thistle Incentive Share Option Plan and no commonshare purchase warrants. In December 2005, the board of directors resolved toreserve for issuance under the Thistle Incentive Share Option Plan up to 10% ofthe issued and outstanding share capital of the Company to directors, officersand employees. For further information, contact: Andy Graetz, Chief Financial Officer + 27 82 929 5562 or email to agraetz@disselgroup.com This information is provided by RNS The company news service from the London Stock Exchange