MAN

Mantra Mining Inc. (TSX VENTURE:MAN) ("Mantra" or the "Company") announces that
it has closed an agreement with NovaGold Resources Inc. ("NovaGold") and an
affiliate of NovaGold to acquire 100% of NovaGold's interests in five properties
in Alaska totaling approximately 397,680 acres of Alaska State mining claims,
subject to filing of Mining Quitclaim Deeds in Alaska. These include the
Colorado Creek and Tintina gold exploration properties and the Kugruk, Baird and
Omilak polymetallic base metal properties (to view location map - Figure 1
please click on the following link:
http://media3.marketwire.com/docs/0310man.pdf). In consideration for the
acquisition of the five properties, the Company paid to NovaGold an aggregate of
3,125,000 shares of Mantra common stock, representing approximately 7% of the
issued and outstanding common shares.


Raj Chowdhry, President of Mantra Mining said: "We are very pleased to have
closed this transaction with NovaGold. We feel that there is excellent potential
to advance the properties and add value for our shareholders. We are especially
excited about the Tintina properties in the potential of the Kuskokwim gold belt
and the Colorado Creek gold project in particular - this will no doubt be the
focus of our exploration efforts this summer. Meanwhile we will evaluate
strategic alternatives for the base metal assets."


The Colorado Creek property lies in the Tintina Gold Belt in southwest interior
Alaska and consists of 21,560 acres of 100% owned Alaska state claims and 5,320
acres of Alaska state claims under purchase option to acquire 100% interest
subject to 4% NSR. The property, geology and option agreement are described in
more detail in a recently completed National Instrument 43-101 report (see
website or SEDAR for link to full report).


Colorado Creek, Cripple Creek, and the tributaries which drain the property,
have produced at least 265,000 ounces of placer gold (historical, unaudited).
Soil and rock sampling have returned anomalous gold mineralization in structures
cross-cutting quartz-feldspar porphyry dikes and sills hosted by Kuskokwim Group
shale, siltstone, and andesitic volcanic rocks. A 3 kilometer wide zone of
mineralized occurrences, covered by overburden at both ends, extends northeast
for over 4.5 kilometers along the northwest flank of the Cripple Mountains
stock. Historic exploration has identified gold mineralization with locally
abundant disseminated pyrite, arsenopyrite, and some stibnite associated with
silicified and sericite altered quartz porphyry sills.


Colorado Creek shows important geologic similarities with the world class Donlin
Creek gold deposit which lies 200 km to the southwest, where 70 Ma
feldspar-quartz dike and sill complexes intrude Cretaceous Kuskokwim group
shales and siltstones.


The Tintina group of properties consist of five claim blocks totaling
approximately 93,280 acres of 100% owned State of Alaska mining claims situated
135 to 165 kilometers south-southwest of the Donlin Creek gold deposit in
southwest Alaska. These claim blocks have received limited reconnaissance
mapping and sampling; however, anomalous gold mineralization has been identified
and is associated with silicified and altered quartz-feldspar porphyry intrusive
bodies intruding Kuskokwim Group sediments. These early stage exploration
targets show similar general characteristics to Donlin Creek-type
mineralization.


The Kugruk property is located on the Seward Peninsula and consists of 176,640
acres of 100% owned Alaska state claims and 640 acres of leased Alaska state
claims. Exploration work to date has identified copper-iron, lead-zinc-silver,
and gold mineralization in and around the eastern margin of the Kugruk pluton, a
large +/- 94Ma felsic granodiorite intrusive complex intruding Paleozoic
metasediments. Limited drilling in the 1970's encountered a massive
magnetite-chalcopyrite calc-silicate assemblage along the east margin of the
pluton known as the Billiken prospect. Separately and along the Kugruk River,
the Independence Mine underground workings access high grade lead-zinc-silver
replacement zones in marbleized Paleozoic limestone and dolomite along a
northeast trending carbonate-schist contact. Historic mining at this location
dates back to at least 1913. A series of prospects with similar style
lead-zinc-silver replacement mineralization (North and South Mina, Jawbone,
Anugi) persist for approximately 35 kilometers along a northeast trend. East of
this belt of lead-zinc-silver prospects, numerous placer gold prospects,
including the Candle placer district, are sourced in partially loess-covered
schist and carbonate terrane.


The Baird property is located in northwest Alaska and consists of 80,560 acres
of 100% owned Alaska state claims and the 9,600 acre Omar claim block where
Mantra is earning a 60% joint venture interest from Teck American Incorporated
(formerly AUR Resources Inc.). The Baird property covers a large area of
copper-zinc-barite occurrences hosted by Paleozoic carbonates. The property lies
100 kilometers southeast of Red Dog, the world's largest zinc producing mine. An
historic drill program conducted by Bear Creek Mining Co. in the 1960's
recovered 6.1 meters of 9.6% copper in one hole, and 36.6 meters grading 3.2%
copper in another (historical and unaudited). In 2006, NovaGold joint ventured
the Omar copper showing from Aur Resources, staked state claims on the other
mineralized areas in the district, and covered the area with an airborne
magnetic and EM survey. In 2007, NovaGold completed an extensive surface
sampling (3,826 soil, rock, talus fine, and stream silt samples) and mapping
(270 square km) program over about 50% of the claim block, which provides early
stage definition of four large copper-zinc mineralized areas ranging from 3 to
10 kilometers in length. These zones contain multi-percent-level copper and zinc
mineralization with some anomalous concentrations of cobalt. At the Deadfall
prospect, an outcropping mineralized horizon channel sample returned 36 meters
grading 6% zinc and 21.7 grams silver per tonne (historical and unaudited).
Recent age dating of mineralization at Omar shows an approximate 360Ma age and
suggests the mineralization occurred as part of the same mid-Paleozoic regional
metallization event that formed the giant synsedimentary Red Dog zinc deposit at
approximately 338Ma.


The Omilak property is located in the eastern Seward Peninsula and consists of
19,680 acres of 100% owned Alaska state claims. The Omalik property covers an
area surrounding the historic Omilak lead-zinc-silver mine which was active
during the late 19th century and produced high grade direct shipping silver ore.
The combination of high silver grades and widespread mineralized gossan
occurrences, combined with an apparent lack of significant contemporary
exploration work attracted NovaGold to stake claims over the area. NovaGold did
not complete any work on the prospect to date.


The information of a scientific or technical nature contained in this news
release has been reviewed and approved by Robert McLeod, P.Geo., a Director of
the Company. Mr. McLeod is a qualified person for the purposes of National
Instrument 43-101.


Granting of Stock Options

The Company wishes to announce that it has granted to employees, officers,
directors, and consultants an aggregate of 2,300,000 stock options under the
Company's Stock Option Plan that was approved at the Company's February 24, 2009
annual general meeting. The options will be exercisable for a period of two
years, at a price of $0.50 per share.


ON BEHALF OF THE BOARD OF DIRECTORS

Raj Chowdhry, C.A., President & CEO

Cautionary Notice: This release contains forward-looking statements regarding
the Company's business or financial condition, including the possible
advancement of properties, potential mineralization, potential exploration and
possible strategic alternatives. Actual results could differ materially from
those described in this news release as a result of factors, including, but not
limited to the following: the timing of and ability to obtain required
financing, the ability to and success in advancing properties and completing
exploration, the ability to complete transactions and other factors described in
the Company's management's discussion and analysis and elsewhere. The Company
cautions that these and similar statements involve risk and uncertainties and
are qualified by important factors, including competitive pressures, unfavorable
changes in regulatory structures, and general risks associated with business and
exploration programs, which could cause actual results to differ materially from
those in the forward looking statement. Forward-looking statements are made in
the context of information available as of the date stated. The Company
undertakes no obligations to update or revise such statements to reflect new
circumstances or unanticipated events as they occur, unless required by
applicable law.

Monster Mining Corp. (TSXV:MAN)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Monster Mining Corp. (TSXV:MAN)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024