RFI closes Industrial Minerals Corp Ltd Transaction Facilitating Next Stage Funding for Oregon Resources Corp Through ASX Listing.

HAMILTON, Bermuda -- Resource Finance & Investment Limited ("RFI") (OTCBB:RFIVF) is pleased to report that it has concluded the sale of its wholly owned subsidiary Oregon Resources Corporation (ORC) to Industrial Minerals Corporation Ltd (IDM). The consideration of 100 million shares represents approximately 60% of the issued capital of IDM post the recent capital raisings totalling $A9.6m which were raised as part of the IDM process for listing on the Australian Stock Exchange (ASX). RFI expects the shares of Industrial Minerals Corporation Ltd to be called for trading on November 8th under the symbol "IDM". The sole business of IDM is currently the development of the Oregon minerals sands project with the majority of the funds raised being utilized for the advancement of the project to commercial production.

Cheryl Wilson, Michael Brickell, Dan Smith and Philip Garratt have been appointed to the board of Industrial Minerals Corporation Ltd with Michael Brickell, Philip Garratt and Dan Smith respectively assuming the positions of Deputy Chairman, Chief Executive and Chief Operating Officer.

"This transaction provides RFI with a majority shareholding in IDM and the funding required to advance the ORC project without any additional equity dilution to RFI shareholders. Management is confident that the correct value of IDM will be realized in the coming months as each milestone to commercial production is passed, this value will ultimately be reflected through to RFI shareholders through its ownership" said Michael Brickell, RFI's Chairman.

Complete details on Industrial Minerals Corporation are available at www.industrialmineralscorp.com.au .

Resource Finance and Investment Ltd is involved in the development of industrial minerals and exploration for gold and base metals in North America. Operations and investments are directed through one majority owned and one wholly owned subsidiary and an approximate 31% holding in Cadillac Mining Corp (CXQ-TSXV)

Legal Notice Regarding Forward Looking Statement

This press release contains "forward looking statements" including forward looking statements as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. Statements in this press release which are not purely historical are forward looking statements and include any statements regarding beliefs, expectation or intentions concerning the future. Forward looking statements in this press release include, but are not limited to statements regarding the Corporation's anticipation that the Mineral Claims will prove to be economically viable on a going forward basis, and the Company's anticipation that it can successfully raise the capital necessary to acquire and exploit the Mineral Claims, with or without an equity offering.

It is important to note that the Corporation's actual outcomes may differ materially from those in forward looking statements contained in this press release. Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations and intentions will prove to be accurate. Readers should refer to the risks disclosures in the Company's public filings with the Securities and Exchange Commission.