Playfair Mining Ltd. TSX VENTURE: PLY

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 16, 2007) - Playfair Mining (TSX VENTURE:PLY) is pleased to announce that the company has received a 5 year Class III land use permit from the Mineral Resources Branch, Yukon. The permit allows Playfair to carry out a drill program during the upcoming drill season on the company's wholly owned Risby, Yukon tungsten deposit.

Playfair Mining's Risby property is a large and high-grade tungsten deposit which has historic resources(i) totaling 48.2 million pounds of contained tungsten (this resource, comprising 2,700,000 tonnes grading 0.81% W03, was calculated by Hudson Bay Exploration and Development prior to NI 43-101 and is therefore not compliant). The price of tungsten is approximately $12.00 per pound and it is the goal of Playfair management, during the current period of strong tungsten pricing, to further delineate and expand the Risby deposit through drilling.

Don Moore, CEO of Playfair, states, "Risby is a very important project for Playfair because of the large size and high grade of the deposit. Receiving a permit to drill Risby is obviously an important step within our planning process. We are now working to both advance Playfair's Grey River, Newfoundland tungsten deposit towards production while also working at developing a drill program for Risby. The receipt of drill permits for Risby will allow us to move forward with this process."

Playfair owns four high-grade tungsten deposits, all in Canada and all with significant deposits that pre-date NI 43-101 and are therefore not compliant. All of the historical calculations were carried out by well-established mining companies. These include Risby (Yukon) which has a total of 48.2 million historical pounds of contained tungsten (2,700,000 tonnes grading 0.81% W03), Grey River (Newfoundland) which has a total of 10.1 million historical pounds of contained tungsten (473,000 tonnes grading 0.97% W03), Lened (NWT) which has 18.5 million historical pounds of contained tungsten (737,000 tonnes grading 1.14% W03), and Clea (NWT) which has 5.3 million historical pounds of contained tungsten (257,000 tonnes grading 0.93% W03)(i).

The current price of tungsten is approximately US $12.00 per pound. China supplies the world with approximately 85% of the world tungsten demand but the government of China has dramatically restricted the issuance of tungsten export permits due to rapidly rising internal demand for the metal within China. Due to these Chinese export restrictions and the strong global demand for tungsten, the management of Playfair feels that the company is very well positioned with four high-grade deposits, all located within Canada. The focus of Playfair, during the past year, has been advancing the Grey River deposit towards production.

Playfair's Canadian Tungsten Deposits


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Property       Tonnes  % WO3       Pounds      MTU's   Company
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Grey River    473,000   0.97   10,108,091    458,500   ASARCO 1970
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Risby       2,700,000   0.81   48,214,602  2,187,000   HBED 1982
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Lened         737,000   1.14   18,523,049    840,200   Union Carbide 1986
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Clea          257,000   0.93    5,268,994    239,000   Placer Dome 1980
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(i)Estimates of tungsten resources are historical in nature, predate and are noncompliant with NI 43-101. Playfair is not treating the historical estimates as current mineral resources or reserves. Playfair has not undertaken any independent investigation of the resource estimates nor has it independently analyzed the results of the previous exploration work in order to verify the resources, and therefore the historical estimates should not be relied upon. However, Playfair believes that these historical estimates provide a conceptual indication of the potential of the occurrences and are relevant to ongoing exploration.

Mr. Michael Moore, P. Geo, is the qualified person who has reviewed the technical information contained in this release on behalf of Playfair.

ON BEHALF OF THE BOARD

D. Neil Briggs, President and Director

No Stock Exchange has Approved or Disapproved the Information Contained Herein. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.