TORONTO, December 16th 2008 - Arehada Mining Limited (TSX: AHD), (the "Company") today announced that its wholly owned Chinese operating subsidiary, Arehada Mining Corporation, has obtained a three-month extension from the People's Bank of China for the November repayment. The principal amount of the bank loan was $16,254,000 as at September 30, 2008. The bank loan was established in November 2006 with a five year repayment term with repayment scheduled for November of each year. The repayment of approximately $3 million scheduled for November 20, 2008 has now been extended to February 20, 2009.

"As the company is currently in care and maintenance, we are pleased to receive the bank's co-operation during this difficult time," commented Mr. Steve Fan Wang, Chairman and CEO of Arehada. "We hope to resume operation when market conditions permit."

About Arehada Mining

Arehada Mining Limited is engaged in the exploration, development, extraction and production of zinc, lead and silver in Dongwuzhumuqinqi, located in Inner Mongolia, China. Arehada produces zinc and lead concentrates, which are then sold to smelters in China.

Arehada has completed construction of a zinc processing plant, to produce zinc calcine and sulphuric acid.

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Forward Looking Statements

The above contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, extent of resources actually contained in mineral deposits, actual recoveries achieved in processing ore, technological change, change to regulations affecting the mining industry, risks associated with mining operation in China, environmental and safety regulations risks, and risk associated with failure to obtain required regulatory or third party consent. Forward-looking statements in this release include statements regarding future programs, review completion dates and opportunities. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.

Neither the TSXV or the TSX has in any way passed upon the merits of this press release and has neither approved nor disapproved the contents of this press release.