Arena Minerals Closes Private Placement Financing in Full for $1,500,000

TORONTO, ONTARIO--(Marketwired - April 1, 2015) -

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION TO THE UNITED STATES

Arena Minerals Inc. ("Arena" or the "Company") (TSX VENTURE:AN) has closed its previously announced non-brokered private placement financing of units of the Company (the "Units") at a price of $0.10 per Unit for gross proceeds of $1,500,000 (the "Offering"). Each Unit consists of one common share of the Company (a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to acquire one Common Share of the Company at $0.15 until April 1, 2017.

Upon closing of the Offering, Arena has 75,817,386 common shares issued and outstanding. Mr. Ross Beaty participated in the Offering and through his acquisition of 9,000,000 Units, Mr. Beaty became an insider of the Company and now holds approximately 12% of the issued and outstanding common shares of Arena on a non-diluted basis. Assuming full exercise of the Warrants, Mr. Beaty would hold approximately 16% of the Company on a partially diluted basis.

The Common Shares, Warrants and the shares underlying the Warrants will be subject to a statutory hold period expiring on August 2, 2015. Closing of the transaction remains subject to receipt of all regulatory approvals, including the final approval of the TSX Venture Exchange.

The Company intends to use the net proceeds of the Offering to continue development of its Atacama Copper project and Pampas El Peñon properties located in the Antofagasta region of northern Chile, and for general corporate purposes.

In addition, the Company announces that B2Gold Corp. has completed and confirmed its satisfaction regarding its due diligence review in connection with the binding letter agreement entered into between Area and B2Gold, pursuant to which Arena has granted B2Gold the option to acquire up to a 60% interest in the Pampa Paciencia and Cerro Barco properties. (See Press Release dated February 23, 2015 filed on the SEDAR profile of Arena.)

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.

To view the website, please visit www.arenaminerals.com.

In addition to featuring information regarding the Company, its managements and projects, the website also contains the latest corporate news and an email registration allowing subscribers to receive news and updates directly.

About Arena Minerals

Currently Arena Minerals has two properties under option covering approximately 153,000 hectares. All the properties are within the Antofagasta region of Chile, at low altitudes and within producing mining camps. The Company flagship asset is the Atacama Copper Property, consisting of 149,235 hectares of essentially undrilled ground in the heart of Chile's premier copper mining district. In addition the Company has the Pampas El Peñon project, comprising a total of 3,400 hectares which is less than 1 km from Yamana's Agusta Victoria project which forms part of the El Peñon mine complex. On February 11, 2015, the Company reduced its land position with respect to the Pampas El Peñon property to 1,700 hectares of worked claims and 1,700 hectares of greenfield claims. The Pampas El Peñon and Atacama Copper Property properties comprise Arena Minerals highly prospective gold properties within an active mining region.

On behalf of the Board of Directors of

Arena Minerals Inc.

William Randall, President, and CEO

Cautionary Note Regarding Accuracy and Forward-Looking Information:

This news release may contain forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements, projections and estimates relating to the future development of any of the Company's properties, the anticipating timing with respect to the completion of the B2Gold option agreement, the anticipated use of proceeds, the results of the exploration program, future financial or operating performance of the Company, its subsidiaries and its projects, the development of and the anticipated timing with respect to the Atacama project, and the El Peñon project, and the Company's ability to obtain subsequent financing. 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". The statements made herein are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of the Company's interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. Estimates underlying the results set out in this news release arise from work conducted by the previous owners and the Company. 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 to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks described in the annual information form of the Company. 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 informationArena Minerals does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Neither 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.