Nyah Announces Completion of $35.6 Million Financing by Forbes & Manhattan (Coal) Inc.



Nyah Resources Corp. (TSX VENTURE:NRU) ("Nyah", or the "Corporation") is pleased to announce that Forbes & Manhattan (Coal) Inc. ("Forbes Coal") completed its previously announced offering of Special Warrants (the "Special Warrants") led by Canaccord Genuity Corp. for gross proceeds to Forbes Coal of $35.6 million (the "Forbes Coal Financing"). It is expected that each Special Warrant will convert automatically and without any further action on the part of the holder into one common share of Forbes Coal (each an "Underlying Share") immediately prior to the completion of the proposed acquisition of all of the issued and outstanding shares of Forbes Coal by Nyah. Until such time, the Special Warrants and the Underlying Shares will be subject to hold periods pursuant to applicable Canadian securities laws.

As compensation for their services rendered in connection with the Forbes Coal Financing, the Underwriters were paid a cash commission equal to 6% of the gross proceeds thereof and were issued broker warrants exercisable to acquire that number of common shares of Forbes Coal as is equal to 6% of the number of Special Warrants sold under the Forbes Coal Financing at a price of $2.80 per common share for a period of 18 months following the closing of the Proposed Acquisition.

As previously announced, Nyah has entered into a binding letter of intent with Forbes Coal pursuant to which it will acquire all of the issued and outstanding shares of Forbes Coal (the "Proposed Acquisition"). As a result of the Proposed Acquisition, each common share of Forbes Coal (which common shares were consolidated on a 1 for 10 basis effective July 16, 2010) will be exchanged for one common share of Nyah (following completion of the consolidation of the Nyah common shares on a 1 for 40 basis).

The net proceeds from the Forbes Coal Financing will primarily be used to pay the next installment of the purchase price of the Slater Coal Properties described below, which comprises a substantial portion of such price.

Forbes Coal recently entered into an agreement to acquire Slater Coal (Pty) Ltd. ("Slater Coal") and its interests in the South African operating mines known as the Magdalena bituminous mine and the Aviemore anthracite mine (collectively, the "Slater Coal Properties"), located in the Klipriver coalfield, near Dundee, in the KwaZulu Natal Province of South Africa. The Aviemore underground mine, which was closed in early 2009, has recently been re-opened.

About Nyah Resources Inc.

Nyah is a Canadian mineral exploration company listed on the TSX Venture Exchange under the symbol NRU. The Company currently has cash on hand of approximately $1.1 million.

Nyah holds a 100% interest in two separate exploration claim blocks. The Agnew Lake North Uranium Property (the "Property"), which is the most advanced of the Company's claim blocks, consists of seven unpatented mining claims (1,575 ha equals 3,892 acres) located approximately 40 kilometres west of Sudbury, Ontario. The Property encompasses the past producing Agnew Lake Uranium Mine. The Agnew Lake Uranium Mine was operated by Kerr Addison Mines Ltd between 1977 and early 1983 and produced approximately 1.9 million pounds of uranium. The Property has substantial underground infrastructure in place, including a six compartment shaft to a depth of over 980 metres with development on several levels. A decline from surface to the 1,900 foot level was also developed. During the period of operation 2 mineralized zones were developed. In addition to the past producing uranium mine, the Property covers approximately six kilometres of favourable geology possibly containing uranium-mineralized horizons. In addition, the Company holds claim blocks (Agnew Lake South) in the highly prospective Elliot Lake-Blind River uranium district.

As previously announced, Nyah has entered into an agreement with Valencia Ventures Inc. for the sale to Valencia of the Agnew Lake property and surrounding area held by Nyah in consideration of a cash payment of $500,000 and additional payments valued at $500,000 in cash or common shares of Valencia, at the election of Valencia

For further information regarding Nyah, please visit the Company's website at www.nyahresources.com.

Completion of the transaction is subject to a number of conditions, including TSX Venture Exchange acceptance and disinterested shareholder approval. The transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed at all.

Investors are cautioned that, except as disclosed in the Management Information Circular to be prepared in connection with the transaction, any information released or received with respect to the Proposed Acquisition may not be accurate or complete and should not be relied upon. Trading in the securities of Nyah should be considered highly speculative.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has not approved or disapproved of the contents of this news release.

Neither the TSX Venture Exchange, nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), accepts responsibility for the adequacy or accuracy of this release.

This communication does not constitute an offer to purchase or exchange or the solicitation of an offer to sell or exchange any securities of Forbes Coal or an offer to sell or exchange or the solicitation of an offer to buy or exchange any securities of Nyah, nor shall there be any sale or exchange of securities in any jurisdiction (including the United States) in which such offer, solicitation or sale or exchange would be unlawful prior to the registration or qualification under the laws of such jurisdiction. The distribution of this communication may, in some countries, be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions. The solicitation of offers to buy Nyah shares in the United States will only be made pursuant to a prospectus and related offer materials that Nyah expects to send to holders of Forbes Coal securities, subject to the requirements of applicable law. The Nyah shares may not be sold, nor may offers to buy be accepted, in the United States prior to the time the registration statement (if any is filed) becomes effective or an exemption from such requirements is available. No offering of securities shall be made in the United States except (i) by means of a prospectus meeting the requirements of Section 10 of the United States Securities Act of 1933, as amended, which would contain detailed information regarding Nyah and its management, as well as its financial statements, or (ii) pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.

Cautionary Note Regarding Forward-Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the future financial or operating performance of Nyah and Forbes and its projects, statements regarding the prospects for the business of Forbes Coal, statements regarding synergies and financial impact of the proposed transaction, the terms and conditions of the transaction, the benefits of the proposed transaction, the costs of and capital for harvesting projects, harvesting expenditures, timing of future acquisitions of additional properties and applicable licences, requirements for additional capital, government regulation of the mineral exploration industry, environmental risks, acquisition of mining licences, title disputes or claims, limitations of insurance coverage and the timing and possible outcome of pending litigation and regulatory matters. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company (and the company resulting from the successful completion of the proposed transaction) to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, foreign operations, political and social uncertainties; a history of operating losses; delay or failure to receive board or regulatory approvals; timing and availability of external financing on acceptable terms; not realizing on the potential benefits of the proposed transaction; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of mineral products; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and, delays in obtaining governmental approvals or required financing or in the completion of activities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

For more information, please contact

Forbes & Manhattan (Coal) Inc.
Stephan Theron
President and CEO
(416) 861-5912