NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
(Vancouver, July 12, 2011) - Mineral Mountain Resources Ltd. (TSXV: MMV) (the “Company”) is pleased to announce that in addition to the brokered private placement described in the press release of July 8, 2011, the Company will be concurrently offering a Non-Brokered private placement.
The Non-Brokered private placement will consist of up to 1,000,000 flow-through shares (the “FT Shares”) at a price of C$0.52 per FT share for gross proceeds of up to C$520,000.
The funds raised from the issuance of the FT Shares will be used for general exploration expenditures, which will constitute Canadian exploration expenses (as defined in the Income Tax Act).
Closing of the private placement is subject to receipt of regulatory approvals, including the approval of the TSX Venture Exchange. The securities issued will be subject to a four month hold period under applicable securities laws in Canada.
The Company also announces that pursuant to the Company’s Stock option plan, the Company is granting a total of 100,000 stock options to a consultant of the Company. The option is exercisable at price of $0.50 for a period of three years from the date of grant.
The Company is a British Columbia-based company primarily engaged in the acquisition of mineral resource properties in Canada and the exploration of such properties for minerals. Minerals of interest to the company include precious metals including gold and silver and base metals including zinc, lead and copper.
On Behalf of the Board of Directors of
MINERAL MOUNTAIN RESOURCES LTD.
“Nelson W. Baker”, President and CEO
For further information, please contact
Brad Baker, Vice-President Corporate Development & Director
Telephone: (604) 714-0111
Kin Communications (604) 684-6730
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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, including without limitation, the private placement, 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 may 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