Planet Mining Provides Update on Change of Business

Vancouver, B.C., March 8, 2013 - Planet Mining Exploration Inc. (TSX-V:PXI.V - News) (the "Company") announces today that the Company continues to take active steps towards completing its previously announced change of business from a junior mineral exploration company to an "investment issuer" (the "COB") pursuant to Policy 5.2 of the TSX Venture Exchange (the "Exchange"). Pursuant to the polices of the Exchange, the Company is required to issue a news release every 30 days following its initial news release, to update the status of the COB.

The COB is subject to shareholder approval which will be sought by the Company at an annual general and special meeting of its shareholders to be held on March 15, 2013 (the "Meeting"). A management information circular dated as at February 8, 2013 (the "Circular") in connection with the Meeting was mailed to shareholders of record as of January 15, 2013.

The Company intends to make filings with the Exchange in accordance with Exchange policies in connection with the reinstatement of trading of the Company's shares and conditional approval of the COB transaction. Trading in the Company's shares will be reinstated upon receipt by the Exchange of what the Exchange determines is satisfactory documentation to effect a resumption of trading.

For further information with respect to the COB reference should be made to the Circular, a copy of which has been filed by the Company on The System for Electronic Document Analysis and Retrieval (SEDAR) and will be available under the Company's profile at www.sedar.com.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

For further information, please contact:

Planet Mining Exploration Inc.

Robert Orr
Investor Relations

Tel: 604-681-0084

BY ORDER OF THE BOARD

Cautionary Statement Regarding "Forward-Looking" Information

Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

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.

Not for distribution to U.S. newswire services or for dissemination in the United States of America.

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