Vancouver, British Columbia -- August 16, 2010 - Astral Mining Corporation (AA.TSXV)("Astral" or the "Company") announces that it has arranged a non-brokered private placement of up to 3,750,000 flow-through units at a price of $0.20 per unit to raise gross proceeds of up to $750,000, of which the MineralFields Group has agreed to purchase up to 2,500,000 flow-through units for gross proceeds of $500,000. Each flow-through unit will consist of one flow-through common share and one transferable share purchase warrant. Each warrant will entitle the holder to purchase one non-flow-through common share of the Company for twenty four months from the closing date, at a price of $0.25 per share in the first 12 months and thereafter at a price of $0.35 per share.

"We are very pleased to be renewing its relationship with MineralFields Group", said Manfred Kurschner, President and CEO of Astral. "This is an important milestone in the growth of Astral and we look forward to working with MineralFields Group as we develop our Jumping Josephine Gold Project in Southern British Columbia."

In connection with the units purchased by the MineralFields Group, the Company will pay a cash finder's fee to First Canadian Securities (r) of 5% (no HST payable) of the gross proceeds raised in the private placement. First Canadian Securities (r) will also receive a finder's option to purchase 250,000 units, which is equal to 10% of the number of units to be purchased in the private placement, exercisable at a price of $0.20 per unit for a term of 24 months from the closing date of the private placement. Each finder's unit will consist of one non-flow-through common share and one non-transferable share purchase warrant having the same terms as the private placement warrant. The Company will also pay due diligence fees on closing of 5% plus HST. 

In connection with the balance of the private placement, the Company may pay finder's fees in cash or securities or a combination of both.

The funds will be used for an immediate second phase drilling program and further exploration of Astral's Jumping Josephine (JJ) gold project in the Rossland mining camp of Southern British Columbia. 

Closing of the private placement is subject to Astral receiving conditional acceptance from the TSX Venture Exchange. The securities issued in connection with this private placement will have a hold period of four months from the date of issuance. 

About MineralFields, Pathway and First Canadian Securities ®

MineralFields Group (a division of Pathway Asset Management), based in Toronto, Montreal, Vancouver and Calgary, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities (r) (a division of Limited Market Dealer Inc.) is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities ®.

About Astral
Astral Mining Corporation is a Canadian company engaged in the exploration and development of precious metal properties in North America. By focusing on exploration in mining-friendly districts, the Company minimizes the political and social risks encountered in many other parts of the world. With a new gold discovery at the Company's Jumping Josephine Gold Project in Southern British Columbia and an experienced technical team and seasoned management, Astral is poised to leverage this expertise into early exploration success. Further details on Astral Mining Corporation and its high-quality portfolio of exploration projects can be found atwww.astralmining.com. 

ON BEHALF OF THE BOARD

"Manfred Kurschner"

Mr. Manfred Kurschner, President & CEO
Astral Mining Corporation 


For further information on Astral please contact Manfred Kurschner, President & CEO, at 604-641-1315, or by email  This e-mail address is being protected from spambots. You need JavaScript enabled to view it , or visit the Company's web site athttp://www.astralmining.com.

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

Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.