CLINE MINING CORPORATION ANNOUNCES CLOSING OF $57.6 MILLION EQUITY OFFERING

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TORONTO, Nov. 10 /CNW/ - Cline Mining Corporation ("Cline Mining" or the "Company")  (TSX:CMK) is pleased to announce the closing of its previously announced short form prospectus offering of 29,555,000 common shares (the "Common Shares") at a price of $1.95 per Common Share for aggregate gross proceeds of $57,632,250 (which included the exercise of the over-allotment option by the underwriters in full) (the "Offering"). A syndicate of underwriters, co-led by TD Securities Inc. and Jennings Capital Inc. and including Macquarie Capital Markets Canada Ltd. and M Partners Inc., acted as underwriters for the Offering.

PowerOne Capital Markets Limited acted as financial advisor to Cline Mining with respect to the Offering.

The net proceeds of the Offering will be used primarily for funding the Company's working capital and capital expenditures required for the New Elk coal mine, repayment of indebtedness and general and administrative expenses for the 12 months subsequent to the completion of the Offering.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

CLINE MINING CORPORATION
Ken Bates, President and Chief Executive Officer

Forward-Looking Information
This news release may contain forward-looking statements (including "forward-looking information" within the meaning of applicable Canadian securities laws), including the magnitude or quality of mineral deposits, the economic assessment and estimates regarding the mine life of the New Elk coal mine, and the timing and completion of financings. The timing of drilling and work recommended by the NI 43-101 Technical Report is based on current internal expectations, which may prove to be incorrect. Other risk factors are discussed under "Risk Factors" in Cline's Annual Information Form for its 2009 financial year end, and include management's ability to anticipate and manage risk factors. Such forward-looking statements necessarily involve known and unknown risks and uncertainties that are common to junior mineral exploration companies. These risks and uncertainties include, among other things, the Company's need for additional funding to continue its exploration efforts, changes in general economic, market and business conditions, and competition for, among other things, capital and skilled personnel. These statements are not a guarantee of future performance and undue reliance should not be placed on them. The Company undertakes no obligation to update or revise any forward-looking statements except as required by applicable laws. Copies of the Company's public filings under applicable Canadian securities laws are available at www.sedar.com. The Company further cautions that information contained on, or accessible through, this website is current only as of the date of filing such information and may be superseded by subsequent events or filings.

For further information:

Principal Offices:

Toronto Office: 181 Bay Street, Heritage Building, 3^rd Floor, Brookfield Place, Toronto, ON M5J 2T3
Vancouver Office: Suite 2950 - 650 West Georgia Street, Vancouver BC V6B 4N8