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Mineral mountain closes over allotment option raises gross proceeds of $6,172,125 in december financings
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Mineral mountain closes over allotment option raises gross proceeds of $6,172,125 in december financings

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  • 1. MINERAL MOUNTAIN RESOURCES LTD. 201-1416 West 8th Avenue Vancouver, B.C. V6H 1E1 T: 604-714-0111 F: 604-714-1119 MMV.TSX-V Not for Distribution to U.S. News Wire Services or for Dissemination in the United StatesNEWS RELEASE December 31, 2010No. 2010-16 Mineral Mountain Closes Over-Allotment Option Raises Gross Proceeds of $6,172,125 in December FinancingsVancouver, British Columbia, December 31, 2010: Mineral Mountain Resources Ltd.(MMV.TSX-V) (“Mineral Mountain” or the “Company”) is pleased to announce that it has closedthe sale of 340,500 flow-through common shares (the “FT Shares”) at $0.65 per FT Share forgross proceeds of $221,325 (the “Offering”) pursuant to the exercise of the over-allotmentoption granted to Industrial Alliance Securities Inc. and Stonecap Securities Inc. in connectionwith the Company’s brokered private placement that closed on December 17, 2010.The Company intends to use the proceeds from the Offering for general explorationexpenditures, which will constitute Canadian exploration expenses (as defined in the IncomeTax Act). In connection with services rendered, the Company paid a cash commission of 7.5%of the gross proceeds of the Offering to Industrial Alliance Securities Inc. The FT Shares issuedin the Offering are subject to a four month hold period.During the month of December 2010, pursuant to the Company’s brokered private placementand non brokered private placement, the Company raised gross proceeds of $6,172,125.MINERAL MOUNTAIN RESOURCES LTD.Nelson W. Baker, President and CEOFor further information, please contactBrad Baker, DirectorTelephone: (604) 714-0111 Email: bbaker@mineralmountain.comKin Communications (604) 684-6730 Email: ir@kincommunications.comNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracy of this release.VAN_LAW 7202351  
  • 2. This release includes certain statements that may be deemed to be “forward-looking statements”. All statements inthis release, other than statements of historical facts, that address events or developments that the Company expectsto occur, including without limitation, the use of proceeds from the Offering, are forward looking statements. Forwardlooking statements are statements that are not historical facts and are generally, but not always, identified by thewords “expects”, “plans”, “could” or “should” occur. Although the Company believes the expectations expressed insuch forward looking statements are based on reasonable assumptions, such statements are not guarantees offuture performance and actual results may differ materially from those in forward looking statements. Factors thatmay cause the actual results to differ materially from those in forward-looking statements include gold prices, resultsof 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 orbusiness conditions. The Company cautions the foregoing list of important factors is not exhaustive. Investors andothers who base themselves on the Company’s forward-looking statements should carefully consider the abovefactors as well as the uncertainties they represent and the risk they entail. The Company believes that theexpectations reflected in those forward-looking statements are reasonable, but no assurance can be given that theseexpectations will prove to be correct. Please see the public filings of the Company at www.sedar.com for furtherinformation.VAN_LAW 7202351