News Release - Monday, May 11, 2009
Crowflight Announces First Quarter 2009 Financial Results
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CROWFLIGHT MINERALS INC. ("Crowflight", the "Company") (TSX: CML) today
announces its financial results for the first quarter of 2009.
Crowflight has delivered on its primary milestone for 2009 by becoming
Canada's newest nickel producer. Crowflight successfully brought its
Bucko Lake Nickel Mine into pre-commercial production during the first
quarter of 2009 and continued to expand its resource base in support of
extending the life-of-mine plan.

Complete interim financial statements and related Management's
Discussion and Analysis will be filed under the Company's profile on
www.sedar.com. All amounts are in Canadian dollars unless otherwise
indicated.

Q1 2009 Highlights

During the three months ended March 31, 2009 ("Q1 2009"), Crowflight
achieved the following:

. The Company shipped its first railcar of nickel concentrate to
Xstrata Nickel's smelter in Sudbury, Ontario on February 13, 2009.

. The Company produced approximately 139,000 pounds of pre-commercial
production nickel.

. The Company sold approximately 65,500 pounds of pre-commercial
production nickel at an average nickel price of US$4.46/lb.

. Results from a program of surface and underground drilling completed
on the property from 2007 to 2009 were used to produce an updated
National Instrument (NI) 43-101 compliant Mineral Reserve and Resource
estimate. As a result, the estimated fully diluted Proven and Probable
Reserves at Bucko have increased to 3,708,000 tonnes grading 1.45%
nickel. This represents a 22% increase in contained nickel over the
2007 Bankable Feasibility Study. A forecasted long-term nickel price of
US$6.00 and a 0.81 CAD$:US$ exchange rate was assumed. Mining reserves
were established using a 1.25% nickel marginal cut-off grade. See press
release of March 12, 2009 for further details regarding the reserve
estimate.

. The Company monetized all remaining nickel forward sales and foreign
exchange contracts for net proceeds of $10.1 million. Of this, $7.6
million was used to pay off the outstanding balance of the debt
facility plus accrued interest. Crowflight is now debt-free as a
result.

. Subsequent to quarter end, the Company completed two separate private
placements. The first one consisted of 46,000,000 units (the "Units")
of the Company at a price of $0.17 for each Unit for total gross
proceeds of $7,820,000. The second placement consisted of 29,411,765
units (the "Units") of the Company at a price of $0.17 for each Unit
for total gross proceeds of $5,000,000 with Dumas Contracting Limited.
Each Unit consists of one common share of Crowflight (a "Unit Share")
and one-half of one common share purchase warrant (each full warrant, a
"Warrant"), each full Warrant being exercisable to acquire one common
share of Crowflight at a purchase price of $0.20 for a period of 24
months following the closing date of April 30, 2009. Please see press
releases dated April 15, 17, and 30, 2009 for further details.

Financial Results

For the three months ended March 31, 2009, the Company reported a net
income of $1.5 million or $0.01 per share, compared to a net loss of
$2.8 million or ($0.01) per share in the same period last year. The
results for the first quarter of 2009 include a net realized gain of
$2.1 million on the monetization of all outstanding forward nickel and
currency hedges.

Cash provided by operations for the quarter ended March 31, 2009 was
$8.5 million compared to cash provided by operations of ($0.88) million
in the same period last year. Cash of $10.1 million was generated from
the monetization of the Company's forward nickel and currency
contracts.

Working capital deficit was $9.5 million at March 31, 2009, including
cash and cash equivalents of $1.6 million.

Outlook

Due to commissioning issues in the first quarter, Crowflight has
revised its 2009 guidance from 362,000 tonnes of 1.65% nickel to
recover 9.1 million pounds of payable nickel to 326,000 tonnes of 1.59%
nickel to recover 7.9 million pounds of payable nickel. Average
operating cash cost (after declaration of commercial production)
remains unchanged at US$3.61 per pound at an exchange rate of 1.20 to
1.00 Canadian to the US dollar.

A number of stoping areas have been developed on the 1,000 and 900 foot
levels and a few of them are now available for production mining at
Bucko. In addition, ore has been accessed on the 450 foot level and
expectations are to open up new production on the 450 to 500 foot
horizon in the next few months. Process plant recoveries, throughputs
and concentrate quality are meeting expectations more consistently in
the last month with throughput rates ranging from 800 to over 1,000
tonnes per day. Recent nickel recoveries since the last week of April
have been tracking the grade recovery curve established during the
feasibility study. At the targeted grade of 1.59% nickel, the recovery
should be 77%.

Crowflight expects to declare commercial production at Bucko shortly.

Qualified Person/Quality Control Procedures

This press release and the technical information contained therein has
been prepared and reviewed by Mr. Greg Collins, P.Geo. (APGO/APEGM) and
VP Exploration of Crowflight and Paul Keller, P. Eng. and COO of
Crowflight, both of whom are Qualified Person(s) under the NI 43-101
guidelines.

Crowflight Minerals - Canada's Newest Nickel Producer

Crowflight Minerals Inc. (TSX: CML) is a debt-free Canadian junior
mining company that is producing nickel at the Bucko Lake Nickel Mine
near Wabowden, Manitoba. Crowflight expects to achieve full commercial
production at Bucko in the second quarter of 2009. The Company is also
focused on nickel, copper and Platinum Group Mineral (PGM) projects in
the Thompson Nickel Belt and Sudbury Basin.