VANCOUVER, BRITISH COLUMBIA - Mineral Mountain Resources Ltd. (TSX VENTURE:MMV - News; “Company”) is pleased to report that the TSX Venture Exchange has approved the Option Agreement that the Company has entered into an Option Agreement with Shotgun Exploration (“Shotgun”), a private company based in Atikokan, Ontario, to earn a 75% interest in Shotgun’s 100%-owned Straw Lake Beach Gold Mine, a former gold and silver producer that was forced to shut down early in its mine life due to the lack of power needed to extract the ore from the deeper levels and the onslaught of World War II (see news release dated September 28, 2010). Gold mineralization in the Straw Lake area occurs in four different geological environments supporting a hydrothermal origin The property lies approximately 70 km northeast from Rainy River Resources’ (RR.V-TSX) 5 Moz gold deposit situated in Richardson Township and approximately 100 km northwest from Brett Resources’ (BBR.V-TSX) 6.9 Moz Hammond Reef deposit in the Kenora Mining District.
The Straw Lake Property consists of 4 patented mining claims which cover the mine shaft and 16 unpatented mining claims totalling approximately 1,706 hectares (4,215 acres).
Beginning today, has engaged the services of Grassroots Syndicate Inc., a Winnipeg-based group to provide a 2-man professional prospecting party to begin traversing and rock sampling in the eastern part of the Straw Lake property searching for both new and historical gold showings within the property limits. As well, grid lines are planned for the area straddling the original Straw Lake Beach Gold Mine zone.
About Mineral Mountain
Presently, Mineral Mountain has over $4 million in the treasury. To date, Mineral Mountain has identified three major gold projects that meet the Company’s objectives. In south eastern British Columbia, the Company acquired the 89,000-hectare Kootenay Arc Project because it straddled a geological environment that could host hypogene, sediment hosted precious metal deposits similar to those found in the Carlin Trend of Nevada. To date, several kilometric-scale gold-silver-lead-zinc-copper-arsenic-bismuth-mercury anomalies have been defined by prospecting and systematic soil and stream sediment sampling within the project area. The 90 km2 Golden Harp Main Block option in the emerging Shining Tree mining camp and the Straw Lake Beach Mine Property both are considered to have excellent bulk tonnage and high grade gold potential.
MINERAL MOUNTAIN RESOURCES LTD.
Nelson W. Baker, President and CEO
This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that cause the actual results to differ materially from those in forward-looking statements include gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, continued availability of capital and financing and general economic, market or business conditions. The Company cautions the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company’s forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. Please see the public filings of the Company at www.sedar.com for further information.
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy and accuracy of this news release.
Mineral Mountain Resources Ltd.
(604) 714-1119 (FAX)