CARPINTERIA, CALIFORNIA--(Marketwire - Nov. 16, 2009) -

NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

NiMin Energy Corp. (TSX:NNN) ("NiMin" or the "Corporation") is pleased to announce that its subsidiary, Legacy Energy, Inc. ("Legacy"), has entered into a Purchase and Sale Agreement (the "Agreement") with a US company to acquire certain oil producing assets in the US Rocky Mountain region (the "Assets") for a total purchase price of US$27,000,000, prior to closing adjustments. Upon completion of the acquisition, Legacy will assume operatorship of the Assets. Legacy has paid a US$1,000,000 non-refundable deposit to the seller with the remaining US$26,000,000 due upon closing the purchase. The Agreement contains an effective date of December 1, 2009 for the transfer and conveyance of the Assets and the Corporation anticipates closing the acquisition of the Assets prior to December 31, 2009. The parties shall cooperate with each other to seek and obtain all required consents and approvals necessary for the purchase and sale of the Assets.

Summary Information Relating to NiMin and Legacy

NiMin and its subsidiary, Legacy, are headquartered in Carpinteria, California. NiMin is an independent oil and natural gas company with drilling and production operations in the United States.