(Vancouver, November 2, 2012) -- Mineral Mountain Resources Ltd. ("Mineral Mountain" or the "Company") (TSXV: "MMV") (OTCQX: "MNRLF") is pleased to announce a Non-Brokered private placement which will consist of up to 2,000,000 units (the "Units") at a price of C$0.27 per Unit for gross proceeds of up to C$540,000.
Each Unit shall consist of one common share of the Company and one common share purchase Warrant. Each whole Warrant shall be exercisable into one common share of the Company for a period of 24 months from closing at an exercise price of C$0.36 per share in the first year and C$0.45 per share in the second year.
The funds raised from the issuance of the Units will be used for general working capital and for further development of the company's properties.
Closing of the private placement is subject to receipt of regulatory approvals, including the approval of the TSX Venture Exchange. Finder's fee may be payable subject to TSX Venture Exchange guidelines. The securities issued will be subject to a four month hold period under applicable securities laws in Canada.
The Company is a British Columbia-based company primarily engaged in the acquisition of mineral resource properties in Canada and USA 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